A new survey from NectarOM, a marketing personalization platform based in Dallas, found that 83% of customers expect a personalized retail experience and highlights the need for retailers to adapt to a digitally evolving customer base. The survey findings, conducted in partnership with Texas A&M’s Mays Business School, were unveiled at the institution’s 2017 Retailing Summit held on Oct. 12-13.
Among the major highlights:
- The 2017 NectarOM Marketing Personalization Survey found that almost all retailers, 88%, saw personalization as a top priority to meet evolving customer expectations.
- Although 83% of customers expect a personalized retail experience – in store, in app and long after they leave the store – only 44% of marketers have allocated sufficient budget and resources to implementing a personalized technology solution.
- Many marketers are still at the beginning of their personalization journey; 11% have fully implemented a technology solution, 33% are executing a proof of concept, and 33% indicated personalization will be an initiative for 2018.
“The personalization expectations of customers continue to evolve,” said CEO and Founder of NectarOM, Amrit Kirpalani. “This survey reinforces our thesis that a personalized experience is essential to winning the hearts and minds of customers.”
With the 2017 holiday season a few weeks away, the above survey findings are also supported by the National Retail Federation, which suggests in its annual retail forecast that “personalized recommendations” and other digital technologies can more effectively guide customers toward making gift purchases this holiday season.