What's Happening?
During a session at The Drum Live, Marc Allsop, head of EMEA at Rokt, and Lucy Whitear, performance marketing manager at Tails.com, discussed the critical role of relevance in the online checkout process.
They emphasized that irrelevance, once considered neutral, is now damaging to consumer experience. According to Allsop, 62% of shoppers abandon their carts if faced with irrelevant offers. The session highlighted the 'Transaction Moment' as a peak emotional experience for consumers, where the purchase is not just a transaction but an emotional peak. Millennials and Gen Z are particularly driving this trend, valuing the seamlessness and personalization of online shopping.
Why It's Important?
The insights shared underscore the growing importance of personalization and relevance in e-commerce. As consumer expectations rise, businesses that fail to offer relevant experiences risk losing customers. This shift is particularly significant for younger generations who prioritize convenience and control in their shopping experiences. Companies that successfully navigate this landscape by leveraging data to enhance personalization can create loyal, repeat customers, thereby gaining a competitive edge in the market.