Hyper-Personalization Explainer 2024

How AI-Powered Personalization Is Transforming Digital Retail

Report by Carina Perkins  | UPDATED: May 16, 2024
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Executive Summary
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Table of Contents
Executive Summary
Hyper-personalization tops the retail agenda in 2024
What is hyper-personalization?
For retailers, hyper-personalization has benefits—and potential pitfalls
Sources
Media Gallery
About This Report
Hyper-personalization has long been an ambition for retailers—and the rise of generative AI means 2024 could be the year implementation accelerates across the industry.
Topics
Ecommerce Sales
US
Table of Contents
Executive Summary
Hyper-personalization tops the retail agenda in 2024
What is hyper-personalization?
For retailers, hyper-personalization has benefits—and potential pitfalls
Sources
Media Gallery

Hyper-personalization has long been an ambition for retailers—and the rise of generative AI (genAI) means 2024 could be the year it becomes a norm across the industry. But while supercharged personalization has plenty of potential benefits for retailers and their customers, there are also some challenges and potential pitfalls to overcome.

Key Question: What is hyper-personalization, and how is genAI changing the game for retailers in 2024?

Ecommerce Trends US Digital Retailers Believe Will Affect Their Business the Most in 2024, Dec 2023 (% of respondents)
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Key Stat: Over 70% of US digital retailers believe AI-driven personalization and genAI will affect their business in 2024, according to a December 2023 survey by Bolt—making hyper-personalization as important as omnichannel.

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Table of Contents

  1. Executive Summary
  2. Hyper-personalization tops the retail agenda in 2024
  1. What is hyper-personalization?
  2. For retailers, hyper-personalization has benefits—and potential pitfalls
  1. Sources
  2. Media Gallery

Charts in This Report

Ecommerce Trends US Digital Retailers Believe Will Affect Their Business the Most in 2024, Dec 2023 (% of respondents)The 5 Essential Elements of Hyper-Personalization in Retail
The Benefits of Hyper-Personalization in Retail

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First Published on Mar 4, 2024

authors

Carina Perkins

Contributors

Suzy Davidkhanian
Yoram Wurmser
Principal Analyst