Mastercard's report highlights a $2 trillion opportunity for ecommerce brands that enhance personalization. Although 67% of brands prioritize this strategy, 50% lack allocated resources, relying on fragmented efforts. A centralized team is critical for effective implementation, as brands currently split efforts across various departments. The report also reveals a concerning absence of unified audience strategies, with 57% of brands lacking a cohesive plan for execution and analytics, leading to siloed and inefficient personalization efforts across channels, ultimately hindering customer experience consistency.
Over the next five years, there's a $2 trillion opportunity for ecommerce brands that can effectively implement and scale personalization.
50% of brands worldwide aren't dedicating the resources to make personalization happen, despite 67% saying itâs a top priority.
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