Retailers need to embrace the power of personalisation
Feb 8, 2023
We talked in 2021 about the importance of personalisation and convenience. Fast-forward to 2023 and personalisation is playing an even more vital role in keeping retailers and shoppers happy.
Northfork and personalisation
What do we mean by personalisation? Well, with Northfork's tech, retailers can deliver recipe shopping experiences with recipes that are curated to suit shoppers' dietary needs, budgets, preference for organic produce and more. The shopper can rate recipes, which results in the site serving them recipe suggestions that take their favourite meals into account. Northfork's widgets can even take account of recent purchases to serve recipe suggestions to use up store cupboard ingredients, saving the shopper money.
"All of these elements are wins for the consumer," comments Northfork Co-founder and CEO Erik Wallin. "Personalised recipe shopping can save them time and money, while making the weekly shop more enjoyable. It is also a big win for the retailer, as it can increase average basket value and engagement."
The impact of personalisation
Analysis by 84.51° - the data arm of Kroger, the US's largest traditional grocery retailer - shows the impact of personalisation. Online retailers offering a personalised 'build your cart' experience saw ~20-40% incremental sales compared to non-personalised experiences. Data-driven personalised experiences also saw shoppers add one more item to their basket, compared to those shopping without personalisation. Brand engagement, loyalty and optimised sales at checkout are further benefits.
According to 84.51°, personalisation plays a key role across the entire consumer lifecycle, from awareness and consideration through to purchase and retention. The firm found that 59% of consumers were likely to buy a specific brand or shop in a specific store as a result of receiving personalised content.
"Pairing personalised marketing with a personalised online shopping experience is a powerful driver of sales growth," observes Northfork's Erik Wallin. "It can support retailers' relationships with consumer packaged goods firms, by promoting particular brands. It also supports retailers to deliver value for their customers, which is a key area of focus right now."