With increases in online and mobile shopping, eCommerce retailers are dealing with growing numbers of customers abandoning their shopping carts. On average, online retailers experience a 65 percent rate of shopping cart abandonment, leading to nearly $4 trillion in merchandise lost each year.  According to a recent Omniture study, when a retailer follows up with a customer email after they abandon their shopping cart, about 2% will make a purchase.
Latestinbeauty.com, an online cosmetics retailer based in the UK, was especially affected by this problem. Cosmetics are a high abandonment product, as customers often place multiple desired products into their cart before making a decision about what they will actually buy.
Latestinbeauty.com found a solution through a series of automated emails sent after cart abandonment. The first email is sent hours after the cart is abandoned, the second on two days later, and the last email is sent eight days after the abandonment with a 10% coupon. With this email series, Latestinbeauty.com saw 42% open rates and nearly $50,000 in revenue per year.
To facilitate this process, they used Windsor Circle’s Cart Recovery Solution, which has three components:
- API or Data Feed – Every 30 minutes cart recovery data is pulled from your site, using our API plug-in or enterprise grade data-feed to power timely cart recovery emails.
- Email Platform – Our cart recovery solution sends emails through Mandrill, a leading transactional email platform, ExactTarget, and WhatCounts.
- Set-up & Reporting – Reports are provided through Windsor Circle’s Retention Analytics Suite, which tracks the different cart recovery emails being sent, the number of transactions and revenue generated for each email.
There is also the option of including anti-gaming technology in the cart recovery emails, to ensure that customers are not rewarded for abandoning their carts.
Our recent case study, Global Cart Recovery, provides a detailed account of how Windsor Circle powered Cart Recovery emails work, and highlights the successes that three of our clients have seen using this feature, such as recovery rates seven times the industry norm.