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Shopping Cart Abandonment To Jump

Posted by Michael Bloch in ecommerce (Saturday September 8, 2012 )

Are you noticing your cart abandonment rate is increasing since Labor Day? You’re probably not alone.

According to SeeWhy, between now and Cyber Monday (November 26), consumers will change how they shop online and be a lot more cautious in parting with their cash.

SeeWhy arrives at this conclusion based on previous trends and analysis of more than a billion dollars worth of ecommerce transactions for each of the last two years.

In 2011, the shopping cart abandonment rate hit 89.2% on November 23rd, after steadily increasing from around Labor Day.

The reason? The company says folks will be putting off purchases in anticipation of upcoming holiday deals.

I think another reason may be many families in the USA have recently outlaid a ton of cash on back to school purchases and are giving their credit cards a rest for a while.

SeeWhy says now is the time to be encouraging people to sign up for store email newsletters. Use the lure of first notification of holiday shopping deals; because when people are on your list they are also easier to sell to before this time.

The company says between now and the holiday shopping frenzy, free shipping is also very important and states companies often experience up to a 30% increase in average order value when offering a minimum order free shipping offer. Setting a minimum order value can help pay for the promotion.

Another important strategy for turning abandonments to sales is follow up – reminding people they still have items in their cart and offering reasons or sweeteners to have them go ahead with the sale.

Cart abandonment is the bane of ecommerce. While abandonment rates can be high at the best of times; there are many ways to minimize the problem – and it doesn’t have to be expensive or particularly time-consuming. Small tweaks here and there can make a major difference.

Pick up some more tips on reducing shopping cart abandonment.



 

 
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