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March 4, 2016

Shopping Cart Abandonment: More Emails, More Patience

Shopping cart abandonment is the bane of ecommerce, and retailers try all sorts of strategies to re-engage customers who have forsaken an order. A new study by retail marketing company Listrak looked at the top 1,000 internet retailers and their use of shopping cart abandonment (SCA) campaigns . This was the fifth consecutive year that Listrak ran this study, and the main finding was that, although use of SCAs is still growing, it seems to be reaching a plateau -- and well before its use has become widespread.

Here are a few of the interesting highlights of the report:

  • About 1 out of 3 top internet retailers use SCA campaigns.
  • Most Top 1,000 retailers are still only sending a single email message, but the overall ratio is dropping. The number of Top 1,000 retailers sending 4 or more SCA email messages increased in 2015 to 9.5% (up 31.9%).

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  • For the first time since 2001, there was a decline in retailers sending the first retargeting email within 24 hours. In 2014 around 80% sent the message within the first day, but that number dipped to below 60% in 2015.

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  • Retailers are waiting longer to offer discounts and incentives. (Providing  free or discounted shipping, for example, can sometimes entice a customer back that abandoned a cart due to “sticker shock” upon seeing the shipping and handling costs.) While more than two-thirds (75.8%) of retailers provide offers, only 17.3% offer an incentive in the first email.

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  • SCA re-engagement campaigns are still a useful tool. The average open rate for these emails (across verticals) was 24.3%, the click-through rate was 26.9%, and the conversion rate was a whopping 19.7%.

Those interested can download the entire study from Listrak. The numbers here seem to be pretty clear: There is still a lot of money being left on the table when it comes to using SCA re-engagement campaigns. Best practices are gravitating towards more emails (at least four) with discounts and incentives offered later in the sequence.

 

Materialogic has developed an impressive list of innovative services that are designed to help your brands grow quickly and profitably. We take pride in reducing the complexity associated with managing your supply chain, giving you more time to focus on building your brands and your business. For more about customer re-engagement and discounts,Contact Us

Tag(s): Blog , News

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