Abandonment Pays!: Tip-of-the-Day #97


Do you ever visit a favorite site, go so far as to add several items to your cart, then get distracted (or lazy) and leave? Good for you! Multichannel Merchant, a website dedicated to helping businesses learn the ins and outs of good merchandising just published an article walking businesses through "Best Practices for Abandoned Carts".

Your non-committal shopping ways may trigger the retailer's system to e-mail you a discount coupon of up to 20% off your purchase! It's hard to predict when this will work, so don't try unless you're willing to miss out on a purchase. But that said, retailers realize that overall, abandoned shopping cart e-mails lift total sales by 1.5% to 3%. A little less than three percent may not sound like much, but when you consider it’s an across-the-board improvement of total sales, from a single new initiative, it’s mind-blowing. Who wouldn’t like a 3% lift without paying a nickel more for advertising?

Thus, you the consumer, should not feel at all badly for taking advantage of this very calculated move on the part of the retailer. So what if you're doing the same thing? Everybody wins!

Note: I know for a fact that if you're shopping at Roxio and you leave the site with an item in your shopping cart you'll instantly get a "come back and save" coupon. Pretty smart, huh?

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