Shopping cart abandonment has been a growing concern for businesses and marketers for quite some time now. Bronto Software and Magento partnered with Ipsos to survey online shoppers about their interactions with shopping carts, cart abandonment and post-abandonment reminder emails. The study revealed some interesting insights about shoppers’ behavior in all these areas. We will highlight some of their findings, and also talk about the impact of personalization, responsive website design and relationship building with customers.
We are entering an era of pervasive commerce, where every interaction with a consumer in the physical world or online is an opportunity to inform, educate, and buy or sell products and services. It’s no wonder then that brands and retailers are concerned when they get their consumer to the last step of engagement and subsequently lose them. Why does the shopper not complete the transaction?
According to the study mentioned above, 56% of shoppers who purchase online at least once a month use the cart to store items to buy later. Also, 82% of frequent shoppers will always or occasionally build wish lists. Nearly 1 in 5 frequent shoppers use a mobile device to view items in shopping carts, but may not complete the transaction. However, considering the growing usage of smartphones, brands and retailers have to make sure that mobile shopping is integrated into their omni-channel strategy.
Speaking of omni-channel, we believe that ensuring seamlessness across all points of contact is critical to tackling shopping cart abandonment. Your prices, assortment, inventory, and promotions must be coordinated across all channels. What if a shopper finds a better price on a different website? What if they find a variation of the item that you don’t even carry? These are questions to consider in the age of pervasive commerce.
Here is where personalization and customization becomes essential. By the time shoppers makes it to the cart, brands and retailers have a lot of tailored information about their preferences. This can be used in a variety of ways like retargeting and reminder emails. 59% of frequent shoppers find reminder emails helpful. That’s relationship building gold!
Instead of just sending a reminder about items in the shopping cart, businesses could add interesting content to the email that is perhaps not even related to the products in the cart, but still engaging enough. They could also suggest related products that might better serve the need of the customer. For this, they need to have deep and rich information not only about the consumers, but also about their products. Only then can they ensure matching the right product to the right customer. The key here is to build a trusting relationship. In the age of pervasive commerce, only those businesses that can delight and “wow” customers will be able to thrive.
Responsive website design is another important piece of the seamless experience. It is a design technology which ensures that your website optimizes itself to the multiple screens that a shopper uses. It is a critical part of the overall customer experience. Shopping cart abandonment is just one cog of the customer experience wheel. Brands and retailers need to ensure that all the other parts are well-oiled to make sure that the machine operates smoothly.