A deal for Build.com to acquire web-only small appliances merchant Living Direct has been in active negotiation, sources tell Internet Retailer.
Consumers say customized product suggestions help them make better choices.
Consumers want—and many expect—personalized product recommendations, according to a new report and survey from personalization technology vendor MyBuys Inc. and research firm The E-Tailing Group Inc.
In a survey of 1,021 consumers who have shopped online four or more times in the past year and spent more than $250 online, 39% of respondents say they find it very or somewhat valuable if the retailer offers specific product recommendations tailored to their personal tastes and shopping histories. 56% report purchasing additional products based on merchant recommendations at least occasionally and 21% say they do so either some of the time or all the time.
“In order to optimize the customer experience it is essential to understand consumer shopping behavior and deliver a consistent, targeted experience across all channels and marketing vehicles,” MyBuys and the E-tailing Group say in a report titled “Consumer Insights into Multi-channel Interactions: Practical Tools for Profitable Selling.”
59% of shoppers expect merchants to recommend similar products, as well as related items on a product page. Those suggestions can have a big payoff, as 76% of shoppers say they upgrade their product selections as a result of a product recommendation at least once in a while.
Even after a shopper makes a purchase, recommendations can help lead to another purchase, the report found. 46% of consumers said they always or sometimes buy a product as a result of post-order recommendations.
“The customer has spoken and they are ready to receive personalized merchandising,” the report says.