Online shopping is the most common mobile application for Singaporeans (57 percent), with 61 percent preferring a personalised experience that showcases products matching their individual style and shopping habits. These findings are part of a new research by cloud and big data integration software Talend.
Fifty-two percent of Singapore shoppers are willing to provide their email address, birth date, and clothing preferences for a more personalised shopping experience, Talend said in a press statement on 8 December 2016.
"As the e-commerce sector grows rapidly in Asia, creating an individual customer experience is critical to winning customer loyalty," said Calvin Hoon, Regional Vice President of Sales for Asia, Talend. "However, businesses are facing the challenge of mining readily available customer data to provide a more personalised customer relationship."
"Businesses need to be able to seamlessly integrate data across all consumer touchpoints to gain a 360 degree view of their customer, and ultimately, deliver an experience shaped to individual needs," Hoon advised.
Converting multi-channel customer data into actionable insights a challenge for retailers
A common challenge for retailers in becoming more data-driven is their ability to convert multi-channel customer data into actionable insights.
Data-driven retailers differentiate themselves by their ability to integrate multi-channel data collected into a single view of the shopper. By doing so, they gain visibility into the products demanded by consumers. They can also identify price sensitivity to different items, as well as determine which ecommerce site content is more likely to convert website visitors into paying clients.
It is these insights that allow e-tailers to ensure they are delivering seamless and personalised messages across multiple channels, such as in-store, web, live chat, email, and mobile applications.
"Without the proper tools for managing data, companies will always be one step behind their customers, or one step too late to close a purchase," Hoon warned.
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