The Perks Of A Personalized Economy - TechGeek365

The Perks Of A Personalized Economy

finding a profitable ecommerce niche

Personalized shopping experiences are becoming more and more the norm. After all, who doesn’t like being catered to? Who doesn’t like to have all their favorite things right at their fingertips? It’s practically the American dream nowadays and retailers are busy working to improve it.

The perks of a personalized economy is as good for the seller as it is for the consumer. The more seamless and tailored the shopping experience, the more money is spent. Of course retail businesses want that!

Still, despite all the effort expended, businesses are still figuring out how to truly personalize shopping experiences. Data is sifted through as the search for patterns continues on. Luckily, the consumer is giving sellers plenty of information. In fact, sales go up nearly 10 percent for eCommerce stores implementing personalized shopping experiences for their customers. Having products and items suggested they actually want tends to make people spend more money. Now, that’s not terribly surprising, but the rate of increase in sales is impressive. Rather than being a small occasionally seen uptick; this is a noted, consistent increase.

Boons & Benefits

All markets do well with personalized shopping, but some really excel. Anything in the skin care/beauty product family gets a boost because of how personal the purchases are in the first place. A customer buying items for sensitive skin has provided you with a valuable piece of information about their needs.

Observing this makes it easier for you to figure out related products to advertise to them. Cosmetics work the same way. If you’re wondering how to sell makeup online you can use personalized shopping to increase sales. People tend to find and buy a favorite brand when it comes to cosmetics and skin care. Pretty much anything in the health and beauty category follows a similar pattern.

What’s The Downside?

There are some downsides to the personalized economy of course. A sub-par shopping experience can sour them. The pressure to keep things personal and accurate can be demanding. Customers have gotten used their shopping being targeted. If a retailer misses too often, they may risk losing customers.

Shoppers respond quickly to a sales pitch. Too many items they don’t want might make them feel overwhelmed, as if they’re being pressured to buy rather than assisted. When a personalized shopping experience goes well, a shopper feels they got everything they wanted and then some. When it goes wrong, they feel they’ve been scammed.

A Careful Touch

Having everything the see from you tailored to their tastes can also give a shopper the impression your business is at their beck and call. They will come to expect customer service that is as personalized as their shopping experience. Additionally, if you reach out to customers too often with too many emails and marketing messages they will start to get ignored. The trick is to find and maintain a balance between being available but not too pushy. In the age of social media, email marketing, and constant updates, this can be hard to maintain.

Overall, the perks of a personalized economy are good for both the shopper and the seller. As the eCommerce world continues expanding, there could be less focus on mass production. Smaller businesses working on a more individual level look to be the wave of the future. Like anything, eCommerce and this new personalized economy are going to have some growing pains. Regardless, there’s a lot to look forward to. It just depends on consumers to keep buying and retailers to keep improving making everyone happy.

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