Cart upsell is a technique commonly used in online retail to encourage customers to add additional items or upgrade their existing selections while they’re in the process of checking out. This feature is now available for all AIQ Ecommerce users, giving retailers the ability to optimize their online shopping experience with strategic product recommendations based on three primary data sources: purchase history, brands, and price.
AIQ Ecommerce Cart Upsell Data Sources:
- Purchase History: Populates product suggestions based on the customer’s previous ten orders.
- Brands: Select up to five brands, with the option to prioritize selections, showcasing certain brands first.
- Price: Set a price range for products to upsell. Pricing is pre-discount, therefore discounted items will only upsell if they fall into the price range established prior to being placed on sale.
Users can implement any combination of the three data sources, with prioritization tools available when more than one is in use. This is so retailers can be more strategic with their upselling efforts. By giving users the flexibility to leverage more than one data source, retailers can effectively maximize their upselling opportunities while still being able to prioritize one product recommendation over the other.
This feature ultimately benefits both the retailer and the customer by increasing average order value, maximizing revenue, moving inventory more efficiently, and improving the customer experience with enhanced product discovery. Let’s break it down.
The Benefits of Cart Upsell
- Increase Average Order Value (AOV): Giving customers recommendations at checkout entices shoppers to add more items to their cart, increasing AOV.
- Improve Customer Experience: Upselling gives customers the opportunity to learn about products they may not have known about, discover new drops from popular brands, or be reminded of products they enjoyed from previous purchases. This has the potential to increase customer satisfaction as it connects customers to more products.
- Maximize Revenue from Existing Traffic: New customer acquisition is an expensive part of retail. Upselling to shoppers actively in the check out process is a cost-effective way to increase revenue without having to invest heavily into acquiring new traffic.
- Move Inventory Efficiently: Upselling is a prime opportunity to strategically highlight products that need a push. Whether it’s an item that’s overstocked, or a product about to expire, upselling is a great strategy to help move inventory more efficiently.
- Enhance Product Discovery: Strategic upselling increases visibility on products, generating awareness for items that shoppers may have missed if they’re not navigating through your entire menu.
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