The moment a customer walks into a random or favorite retail store, there’s someone ready to help. It’s almost the same experience today when shopping online, except getting concierge services. However, retailers have joined the revolution to take a personalized merchandising approach to innovating e-commerce and digital marketing. With a goal to replicate personalized shopping experiences and tailor online services to build consumer confidence. Retailers strive to give each consumer relatable concierge services similar to that experienced when shopping locally. While e-commerce is a far cry from replacing physical stores (Brick and Mortar), it’s certainly found success in retail.
As retailers continue developing smarter e-commerce personalization strategies to increase website sales conversion. They’re ever eager to learn each consumer needs and tailor services to meet them. It’s not necessarily the easiest project, unlike face-to-face shopping where a retailer can read into gestures and facial expressions. Face-to-face shopping also capitalizes on salesperson intuition to customize each consumer’s journey. Then again, e-commerce management is already demanding, so, adding personalization certainly makes everything even more complicated. With customer support duties, product catalog management and order processing, time isn’t a luxury with e-commerce retail.
It’s crucial that a retailer takes well-thought-out, systematic approach to personalized e-commerce merchandising with an emphasis on PDM (Product Data Management). Every retailer has heart set on increasing sales. What makes this journey particularly challenging is that one delegate AI (Artificial Intelligence) technology to handle personalization. It strives to humanize the process by exploiting the full spectrum of machine learning and predictive merchandising. With this approach, master data management or PDM is an essential ingredient to develop and execute e-commerce personalization effectively. However, retail cannot fully reap the rewards of e-commerce personalization without having a solid personalized merchandising strategy. The fact that both elements work in unison is no surprise.
Personalized retail merchandising represents an extension of e-commerce personalization. It’s focused on learning what each consumer really likes from analyzing lifestyle choices, experiences, activities, etc. After gathering enough data to create meaningful consumer experiences, retailers can finally suggest useful products. The biggest challenge online retail has faced with personalization throughout the years is misunderstanding their audience.
Retail success using personalized online merchandising hinges on having the correct interpretation of customer personas. Once this is learned, personalizing his or her shopping journey based on persona becomes easier. Customers prefer shopping through certain channels based on their product interests. If e-commerce is to realize success personalizing recommendations, prioritizing an effective channel strategy that emphasizes favorite customer products make sense.