For online retailers the headache of customers filling their carts, only to abandon their goods before purchasing, is real. As more and more retailers focus their commerce online this is one of the biggest obstacles facing this ever growing sector.
Promising new research
Whilst this has been a growing problem in the e-commerce sector there are glimmers of hope on the horizon and a proactive attitude is paving the way for positive change. In a recent BI intelligence report the following surprisingly positive statistics were revealed:
1. Roughly 63% of almost $4trillion worth of abandoned merchandise is recoverable
2. An abandoned shopping cart does not necessarily mean that sale is lost and gone forever. According to this new study, apparently over three-quarters of customers who have abandoned their online shopping carts intend to come back and make the purchase at a later date.
These optimistic statistics show promise that this problem is not all-consuming. That there is light at the end of the tunnel. So how can we try and prevent mobile checkout abandonment and when it does happens what can we do to ensure the shoppers come back to make the purchase?
‘Buy Now, Pay Later’
Enticing the customer in with an appealing ‘buy now, pay later’ scheme is one in which online retailers are using to increase sales on their sites. Retailers need to provide a shopping experience that is as simple and smooth as possible in order to not loose shoppers at any point from the shopping to the purchasing part of the process.
Providing an easy, quick and most importantly trustworthy service should be the focus of all online retailers. The buy now, pay later is just one way that they can achieve that. However, retailers need to be aware of the potential problems that can arise from this method, which can be read about in more detail here.
Accelerate the checkout process
By investing in the right technology, online retailers can guarantee their online shoppers a fluid, quick and simple purchasing process, which will help boost conversions. Companies such as Jumio do a great job of providing safe identity as a service.
Investing in such technologies can provide you and your customers with the assurance you need to carry out online purchases in a safe and trusted environment.
Email retargeting is becoming one of the most effective ways to close online purchases. By sending an email to a shopper, who has abandoned their cart, within 3 hours, can dramatically increase the likelihood of that sale. The open rates of these emails are as high as 40% with
The open rates of these emails are as high as 40% with click-through rates of 20%. So this method is well worth considering as a method to bring the consumer back to your site, back to their cart and lead them back to the sale.
However you choose to look at it, there are always ways we can continue to strive to improve our online retail purchasing experience. With security, simplicity and a customer-centric approach, we can make waves in overcoming this obstacle in the online retail sector.