Let’s be real: Today’s shoppers want it all. Seamless checkouts, personalized offers, easy product discoveries—the list goes on. And the truth of the matter? These expectations are here to stay. 2024 is going to be a true toughie when it comes to acing the retail industry, so you might want to call in a li’l backup.
Fortunately, we teamed up with Rokt to help you make 2024 a total boom. For this article, we're using data from a recent survey from The Harris Poll, commissioned by Rokt, to rewrite the playbook for retailers hungry to engage with their audiences. From combating the “paradox of choice” with relevant content to curbing cart abandonment through streamlined checkouts, we’ve got actionable solutions to the biggest challenges 2024 has to offer.
Ready to elevate your retail game?
_______________________________________________________________
Challenge: 46% of US consumers feel exhausted by how many choices they sort through during online checkouts.
Solution: Combat the “paradox of choice” during the transaction moment by using first-party data to show only the most relevant offers to each customer.
How many times have you been about to buy something online only to throw in the towel at checkout because irrelevant offers clutter the process and cause indecision? More times than you’d like, we’re sure. This paradox of choice is a common hurdle for shoppers and a perpetual thorn in retailers’ sides. The antidote? Leverage first-party data to personalize the shopping transactions.
How’s it done? By leveling up your e-commerce game with Rokt’s ML technology. They leverage first-party data like transaction history and checkout preference to help you deliver relevant and optimized offers, messages, and experiences to all your shoppers.
Instead of exhausting your customers with choices at checkout, Rokt helps you cut through the noise with highly relevant messaging, and exclusive offers.
_______________________________________________________________
Challenge: Up to 30% of consumers will walk away from the cart, brand, or experience when checkout experiences don’t feel relevant.
Solution: Use targeted appeals during checkouts, such as relevant promotions, to foster a feeling of recognition among customers.
The checkout process is everything when you’re playing the relevance game. When shoppers feel seen, heard, and appreciated during the point of purchase, they’ll come back. Think of checkouts as your last chance to leave a good impression—a final opportunity to cultivate a sense of value, excitement, and appreciation among various audience segments. So, how can you ace them?
Give your shoppers targeted appeals to relevant promotions, suggested products, and subscription opt-ins to generate relevance. Shoppers want a li’l something extra when finalizing their purchases. In fact, 64% of US consumers want relevant offers during checkout.
Rokt can help by souping up your transaction process. They use data science to instantly understand your customers during checkout, assess their preferences in real time, and then optimize the transaction by serving the perfect offer or message.
_______________________________________________________________
Challenge: 65% of US consumers are “looking for online shopping experiences to help them buy more of what they actually want.”
Solution: Meet customers where they want by embracing AI tools to streamline and personalize product discovery during checkout for your audience, especially for younger consumers.
Here’s the real deal about artificial intelligence: 88% of Gen Z and 77% of Millennials think AI can improve online checkouts. Younger audiences are begging, pleading for shopping experiences backed by this new tech—and for good reason.
Gen Z and Millennials see AI as an easy aid to help them navigate the labyrinth of price comparisons and discounts, while simultaneously enhancing personalized product discovery during moments of transaction. And get this: 55% of Gen Z and 52% of Millennial shoppers would welcome an AI shopping assistant.
Curious about how AI can help your brand? Well, Rokt is completely built on an AI and ML system that enables brands to target the most qualified audiences and tailor offers to ensure they are superrrr relevant to each individual consumer during checkout, all while enhancing the UX of each partner. Simple, uninterrupted checkout experiences are Rokt’s jam, and they can be yours, too.
_______________________________________________________________
Challenge: 73% of US consumers experience some form of frustration or barrier at checkout.
Solution: Streamline the checkout process by eliminating barriers to purchase.
Shoppers don’t just want personalized checkouts; they also want ‘em easy-peasy with a capital E. In fact, 72% of US consumers want “checkouts that remember who I am,” and 69% want them to “know how I like to pay.” Don’t ignore those numbers—clean up your checkouts.
Start by eliminating the presence of irrelevant ads, incorrect recs, and offers that don’t align with your shoppers’ wants. Ads and offers clog the transaction process when they’re generic and impersonal. Oh, and consider your login and account access workflows. Are they clunky and buggy? Then you’re gonna lose out on sales.
Rokt can help you unlock new revenue streams by showing relevant payment providers during checkout that meet your customers where they need them. That’s right: a fully-native and customizable checkout system that integrates seamlessly with your site. Eaassssy checkouts galore.