How AI Could Revolutionize Personalization in e-Commerce
According to a 2021 study by McKinsey & Company, 71% of customers expect companies to deliver personalized experiences while 78% choose to pay higher prices for personalized services or custom services. The study revealed that companies with great personalization earn roughly 40% more revenue from personalization-related activities compared to companies with average personalization. The research also found that 75% of customers recently tried a new shopping behavior, indicating that it is getting increasingly hard for brands to gain and retain customer loyalty. Personalization has become very important to customers who, on average, expect some degree of personalization in their interactions…











