With average cart abandonment topping 88% , retailers should find ways to make the process smoother and more appealing while ensuring that the experimentation tools they use on the checkout pages are payment card industry (PCI) standards compliant. Protecting their customers’ data is high on the list for retailers. PCI-compliant experimentation tools are a fairly new option , and with the ability to experiment on your checkout flow retailers can now start to get ahead of the competition. It isn’t just about understanding and experimenting with subscription and pricing models, checkout flow, personalization on your checkout page and maximizing your funnel. Disruptors in the retail space will use experimentation and personalization insights for product development, go-to market and demand forecasting. Quite simply, no retailer wants an inflated supply chain of perishable materials sitting on a shelf. Producing highly accurate demand forecasts that power supply chains and fulfillment operations while still delighting customers is how retailers will beat the competition. Personalize the shopping experience to increase sales According to Swirl Networks , 88% of customers say they’re more likely to shop with retailers that deliver personalized and connected cross-channel experiences. Many call this the “Amazon effect”: Amazon has been so successful in understanding individual buyer preferences and serving product suggestions accordingly that now consumers hold other retailers to this high bar.
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