Key figures on the state of personalization among businesses worldwide 2023

In 2023, a global survey unveiled that seven out of ten business leaders were ramping up their investments in personalization. While 80 percent acknowledged that personalized experiences led to increased consumer spending, and 62 percent emphasized the favorable impact on customer retention, half of the respondents pinpointed the acquisition of precise data for personalization as a persistent challenge.

Data: access vs. execution

Although business owners have recognized the difficulty of retrieving accurate data for personalized shopper engagement, this may only constitute half of the hurdle. According to a 2023 survey of retailers worldwide, roughly 60 percent of respondents reported having full capability to leverage customer data for personalization, underscoring the challenges in implementation despite data accessibility.

Growing expectations

As e-commerce companies strive to deliver an increasingly personalized shopping experience, consumer attitudes toward personalization are continually evolving. Between 2020 and 2022, the percentage of buyers anticipating companies to understand and address their individual shopping needs surged. By 2023, approximately three-quarters of customers expected better personalization as they provided retailers with more data and as technology advanced.