The winter holidays are fast approaching. This time of year provides a great opportunity for retailers to reach new, and retain existing, customers as many eCommerce sites experience a significant spike in web traffic during November and December. More and more consumers are turning online for their holiday shopping, with nearly $102 billion spent online in the 2014 holiday season.
Although more consumers may be coming to your site, many will leave without making a purchase.
The average online retailer experiences 65% shopping cart abandonment, resulting in nearly $4 trillion worth of merchandise lost each year. Of this 65 percent, only 2% of the abandoned carts are recovered. What can be done to reduce abandonment, and motivate potential customers to make a purchase?
Data-driven, automated cart recovery emails can lead to more conversions. In fact, with our three-part cart recovery campaigns, our clients experience average recovery rates of 15%, more than seven times the industry norm.
We’d like to offer some tips to help you make the most of the spike in holiday website traffic, and recover those abandoned carts!
Tip #1: Combine cart recovery messages with product recommendations. You can pull in dynamic recommendations of items similar to, or often purchased with, the product left in the shopping cart. This is a way to expose your customers to some products they might not have seen before. By doing this, you may be able to lead your customer to purchase the originally abandoned item, or a much larger order.
Tip #2: Your customers are in the gift giving spirit this time of year, and you should be equally as giving to them. Using incentives in your cart recovery emails can be an effective way to entice potential customers to make a purchase. However, you don’t want to give away these gifts too early. We only recommend including a special offer, like a discount or free shipping, in the last email in your cart recovery series. This email is the last in a three-email campaign that FacialCo sends to customers who abandon carts. It is triggered three days after cart abandonment.
Tip #3: Additionally, if you can, make the offer time-sensitive. This shows your customers that it’s their last chance for the deal and this sense of urgency could push them to purchase more quickly.
To learn more about how you can leverage cart recovery this holiday season, download our Cart Recovery case study.