SOURCE: MyBuys, Inc.

MyBuys, Inc.

June 22, 2010 09:16 ET

New Research Shows Personalized Merchandising Drives Sales for Online Retailers

3rd Annual MyBuys/e-tailing Group Consumer Survey Results Released During Free Webinar, June 29th

REDWOOD CITY, CA--(Marketwire - June 22, 2010) -  MyBuys, the leading provider of personalized recommendations for multi-channel retailers, announced the results of its 3rd annual consumer insights survey will be revealed during a free webinar, June 29, 2010 at 1 p.m. EDT/10 a.m. PDT featuring Lauren Freedman of the e-tailing group and Shaun Schooley, VP of Client Success at MyBuys. 

The e-tailing group was commissioned to survey over 1,000 consumers to gain further insights into how shoppers interacted with personalized merchandising and where they expected to see personalized recommendations. The results indicate more than 50 percent of consumers have come to expect personalized merchandising starting with a personalized home page and that 77 percent of shoppers will make an additional purchase when presented with personalized recommendations.

The latest edition of the report, entitled "Consumer Insights into Multi-Channel Interactions: Practical Tools for Profitable Selling," examines several questions on a historical basis to understand any shifts in the consumer's mind and explores how consumers interact with new mediums such as display advertising and social media.

"For the 3rd year in a row, this data demonstrates the power of personalized product recommendations. Shoppers not only expect retailers to know their preferences and suggest relevant items, but will buy more when personalized interactions occur," said Schooley. "This latest edition takes the study a step further by determining the 'where and when' aspect of how personalized merchandising should be utilized to enhance the shopping experience and increase the lifetime value of every shopper. As the leader in personalization, MyBuys is helping retailers incorporate the findings into their multi-channel strategy to help increase revenue in 2010."

Key findings include:

  • 77 percent of consumers will purchase a recommended product at least once when interacting with personalized recommendations.
  • Shoppers are purchasing more often when they interact with personalized merchandising.
  • 68 percent of shoppers say recommendations play a valuable role beyond shopping, including convenience and time-savings, while also aiding selection.
  • Over 50 percent of consumers have come to expect personalized merchandising, starting with a personalized home page while 1 in 4 consumers look for these tailored experiences at the search results, product, and category pages.
  • 54 percent of shoppers say personalized recommendations that can be purchased directly from an email or ones that redirect you to the product detail page are very influential in making a purchase.

Click here (https://www2.gotomeeting.com/register/133727178) to sign up for the June 29th webinar and to receive a free copy of the report.

About MyBuys
MyBuys is the leading provider of personalization for multi-channel retailers. The company builds deep profiles based on each individual shopper's behavior, then uses a patented portfolio of algorithms and real-time optimization to deliver the most relevant recommendations. MyBuys' clients are increasing engagement by over 100% across all channels, average order value by 45 percent, conversion rates by 90 percent, and boosting overall online revenue 10-30%. Over 250 retailers, including more than 50 of the Internet Retailer Top 500, partner with MyBuys to offer intelligent, personalized recommendations to their shoppers. Based in Redwood City, Calif., MyBuys is a privately held company. Visit them online at www.mybuys.com.

Contact Information

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