E-commerce companies are placing their bets on website personalization to continue their success following the industry’s acceleration during the COVID-19 crisis. According to research published today by Yieldify, 74% of eCommerce sites have now adopted website personalization, with this number expected to reach over 90% by the end of 2021.
The report, “Personalization after COVID-19”, investigated eCommerce use of personalization technologies following the industry’s recent growth. Based on research conducted with over 400 US and UK eCommerce leaders in July of this year, it found that in terms of personalization, websites are leagues ahead of channels such as SMS (42% personalized) and mobile app (56% personalized).
The research also found that post-COVID, the motivation for adopting personalization sits firmly with retention, cited by 59% of eCommerce leaders as their top reason for pursuing a website personalization strategy. This was ahead of both conversion (55%) and acquisition (45%), reflecting the shift in priorities as eCommerce sites experience more traffic than ever as a result of COVID-19.
Waleed Al-Atraqchi, Chief Executive Officer at Yieldify, commented: “Times of change can cause many businesses to lose sight of long-term innovation in favor of immediate fire-fighting – this report shows that for the eCommerce industry, this is certainly not the case. Instead, we’re seeing an industry that understands the importance of sustainable growth and the pathway to get there.”
In addition to showing the eCommerce industry’s drive for personalization, the report also highlighted the challenges it faces in fulfilling those ambitions. The biggest issue was one of resource, with 37% citing a ‘lack of expertise’ as their main impediment, followed by the limited functionality of tools (36%) and a lack of time (35%).
The report also explored where the eCommerce industry is heading next with regards to personalization, finding the market at a surprising level of readiness for incoming increases to privacy and data restrictions. 85% expressed a good level of understanding of what’s to come, with 79% of those surveyed actually expecting new privacy regulations to have a positive impact on their personalization programs.
More information about Yieldify and today’s report can be found at yieldify.com.