Turning Cart Abandonment into Opportunity with Omnichannel Capabilities
Online shopping is often seen as invincible by retailers, but a recent Usabilla study on the biggest reasons for online cart abandonment shows why many shoppers still prefer shopping in the store and how retailers can use omnichannel capabilities to compete with pure online or offline competitors.
Common online frustrations including too many ads, poorly-structured websites, page loading and payment errors – these are all good reasons that continue to drive customers into physical stores. 40 percent of mobile and desktop users report getting frustrated with too many ads, while a third their biggest frustration as having to re-enter information that should be saved.
The top reason leading to cart abandonment was high shipping costs (58 percent), while an additional 8 percent reported that increased delivery time has led them to abandon their cart. 17 percent reported that a shipping or delivery error that delayed the arrival of a product would cause them to never return to an online store.
Beating Cart Abandonment with In-store Convenience
Shipping is expensive and time-consuming, especially when it comes to unique orders. With an omnichannel-ready solution like Openbravo, retailers can offer flexible fulfillment options at in stores and online, providing retailers and their customers the best of both worlds.
BOPIS / ROPIS capabilities offer the convenience of shopping online, without the shipping costs and delivery delays. Customers can order an item online and pick-up in the most convenient store location for free. Configuring Mobile POS to process omnichannel scenarios like BOPIS on the spot can also further reduce waiting times and lead to higher customer satisfaction.
Discounts also work. 48 percent of shoppers in the Usabilla study say discounts will make them return to an abandoned cart if retailers cannot offer free or expedited shipping. Merchandise management functionalities allow retailers to quickly and intuitively set up discounts and promotions based on the products and locations of cart abandonment. Instead of letting a sale come to a grinding halt, the ability to follow up cart abandonment opens the door for a conversation between retailer and customer. Online customers who are part of a loyalty program can be engaged more directly, with email reminders that suggest BOPIS or offer discounts at their nearest store location.
And finally, logistical costs can be reduced using software such as Openbravo Commerce Cloud which integrates with supply chain management, including advanced warehousing and transport optimization tools. Accessible from any mobile POS, these tools help retailers estimate, prioritize, and plan the most time- and cost-efficient options for the various omnichannel fulfillment scenarios.
To find out how Openbravo Commerce Cloud enables retailers to offer omnichannel fulfillment options seamlessly integrated across channels, you may download our ebook, “Omnichannel Retailing: A Practical Guide”. To find out more about our editions and pricing, click here.