The Power of Cart Recovery During Retail Holidays

Maximizing the value of online shoppers with abandoned cart campaigns

When big retail holidays roll around, shopping interest peaks – customers know to expect enticing sales on their favorite product and take advantage of it, especially online. Why customers increasingly prefer online shopping vs in-store: 

  1. Convenience: Online shopping provides convenience – being able to shop from anywhere makes purchasing easier and doesn’t restrict customers to shopping near them. This is particularly valuable for customers who are trying to avoid busy stores during peak retail holidays. In just a few clicks, a customer can order what they want, confirm payment and track shipping without leaving their home. 
  1. Variety: Online shopping often provides customers with more options than in-store, increasing the likelihood of getting your favorite product during a big sale when demand is higher than usual.
  1. Price comparison: This is very common during holiday sales. With retailers competing for customer attention more than usual, customer options can be vast. Because of the convenience of online shopping, customers can take the time to vet different retailers to find the best deal on the product they love.  

With all of this in mind, it’s important that structure is in place to take advantage of this increase in web traffic and implement abandoned cart campaigns. 

“Your cart recovery strategy is crucial to maximizing customer lifetime values and boosting revenue,” says Daniel Aversa, SVP of Marketing at AIQ. “Over 70% of lapsed buyers intend to complete their purchase, and a simple reminder is all they need.”

The impact of abandoned cart campaigns: 

  1. Revenue Recovery
  2. Conversion Rate Improvement 
  3. Personalization
  4. Re-engagement
  5. Data Utilization 

By leveraging AIQ’s recapturing tools to maximize the value of online shoppers, retailers are able to deploy effective abandoned cart campaigns that garner significant results.

1000x your ROI converting abandoned carts with AIQ:

  • Over 700,000 abandoned orders recovered by AIQ
  • 38% average open rate
  • 34% average conversion rate

Strategic abandoned cart campaigns should include these key pillars to optimize its success: 

  1. Cart Recovery Campaigns: Send a series of cart recovery emails to customers who have abandoned their carts. The first email can be sent within a few hours of abandonment, reminding the customer of their unfinished purchase. Subsequent emails can offer discounts or incentives to complete the purchase.
  2. Personalization: Personalize your abandoned cart emails based on the items left in the cart. Include images and details of the products to remind customers what they’re missing out on.
  3. Incentives: Offer time-limited discounts or free shipping to encourage customers to complete their purchase. Make sure to highlight these incentives in your emails.
  4. Ease of Purchase: Make it easy for customers to complete their purchase from the email itself. Include a clear call-to-action that takes them directly to their cart.
  5. Customer Support: Offer assistance in case the customer had trouble with the checkout process. This could be through live chat support, a customer service hotline, or an FAQ section in your email.
  6. Feedback: Ask for feedback to understand why the customer abandoned their cart. This can help you improve your checkout process and prevent future cart abandonment.

In summary, abandoned cart campaigns can be a powerful tool for retailers to increase their sales, especially during the retail holidays when the volume of online shopping is typically higher. Increase conversion rates, recover valuable revenue, and re-engage customers through a personalized approach with AIQ’s Abandoned Cart Campaigns.