I am not sure if you share my same passion for browsing online stores. It’s like taking a walk through your local shopping strip from the comfort of your coach.
A new feature in the latest iVend ecommerce release has sparked some thought in my mind. That feature relates to Exit Offers. A major challenge for online retailers is maximising sales conversions by reducing cart abandonment and potential buyers leaving without making a purchase despite some reasonable browsing time.
A recent study conducted by SaleCycle, found that Australian online retailers experienced a 76.4 per cent average abandonment rate between April and June 2016. This result positions Australian cart abandonment as one of the worst in the world*.
The reasons for cart abandonment could be the result of a wide range of reasons and at some point in time someone will have to leave your website, but how can retailers try and maximise sales, even when the user is about to exit the online store?
Enter iVend Exit Offers.
This new feature in the iVend eCommerce solution offers retailers the ability to try and reduce cart abandonment and maximise sales right up until the point of exit.
Offering a wide range of flexible promotion options, these new features give you a new suite of promotional tools. You can pop up a discount offer as the browser leaves the website as a last ditched attempt to capture a sale. If a buyer makes purchases above a customisable sales value, you can automatically pop up discount offers. You even have the ability to pop up promotions on specific user defined pages so that when a browser leaves that page, a promotion can be automatically displayed.
When you think about it, you are giving your business the best chance to make a sale by keeping the shopper engaged in your store.
Of course there is a fine line between harassing your customer and gently guiding them to a sale as you would in a physical store. Using this functionality in a more strategic fashion may be advisable to avoid negative impacts.
This is just one new functionality release in iVend Retail eCommerce solution, you can find out more about the great additions in our latest eCommerce release here https://knowledge.citixsys.com/knowledge-base/-/knowledge_base/article/3498777.
*http://www.cmo.com.au/article/603733/report-australia-retailers-suffer-worst-cart-abandonment-world/
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