A good majority, 84%, of online shoppers report that personalization influences their purchases and even more, 88%, are more likely to continue shopping on a retailer website that offers a personalized experience.
Those are prime findings of an Elastic study conducted by Wakefield Research that also revealed 53% of shoppers are still prioritizing finding the right product over the lowest price even in the current economic conditions.
Online shoppers demonstrate little patience for irrelevant search results, but personalization remains a powerful tool to keep them connected to their preferred retailers, according to a press release on the survey’s findings.
Additional findings include:
- 78% of online shoppers report encountering roadblocks when searching a retailer’s website.
- 68% of online shoppers have purchased an item they didn’t initially intend to on a retailer’s website when product recommendations were personalized.
- 95% of shoppers report that they are likely to take cost-cutting measures in response to rising prices.
- 52% of shoppers are likely to switch brands during turbulent economic times.
- 84% of shoppers report that personalization already influences their decision to shop with specific brands.
- 42% of shoppers report that targeted promotions and sales notifications were the most influential factor in their decision to purchase from a particular brand.
- 50% of shoppers cited an easy-to-navigate website influencing their purchase decision.
- 41% of online shoppers are willing to share personal information to gain a more personalized experience.
“This research shows that personalized online shopping experiences are no longer an option for retailers: they’re essential, with nearly three in five expecting retail websites to deliver personalized recommendations,” Nathan Richter, senior partner, Wakefield Research, said in the release. “The demand is even higher among Gen Z and Millennials, 73% of whom expect online retailers to provide this experience.”