As quickly as consumers are abandoning carts, retailers are evolving the customer buying experience. Here are five ways that retailers are innovating the buying experience to increase cart conversion and enhance their customer’s overall experience.
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It’s an incredibly dynamic time in the retail industry. Mobile commerce has taken the lead influencing how people buy, users are discovering content in new ways, retailers are experimenting with omni-channel strategies, there’s a race to own the “one-click” transaction, on-demand services have mushroomed, and customers are buying everything from clothes and electronics to appliances and furniture online.
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Online retailers spend significant time optimizing their merchandising, discovery, and their overall site experience in order to maximize purchase competition. Yet nearly 70% of online shopping carts are abandoned. The main culprit of cart abandonment? It’s your shipping experience.
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Online retailers know all too well how expensive it can be shipping products to their customers and it’s getting even pricier. Over the last six months, the big three carriers—FedEx, UPS, and USPS—have made shipping rate increases. This is a concern for both retailers and consumers alike and leads to the bigger question, “What does this mean for online retail?”
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