Fun Fact Friday & Retail News This Week - Abandoned Cart? Think Again!

March 17, 2016

FUN FACT OF THE WEEK

Your cart is not abandoned! 45% of buyers who make a purchase after creating a cart online, ended up buying through a channel - primarily stores.

If you don't have you online and offline customer data updated and connected, you are missing a BIG picture of your customers and loising out on key opporunities for personlalized interactions. AgilOne did a study of our clients transaction data and it revealed:45% of the orders (or transactions) made within the 30 days following a cart creation online, were made through a different channel (mostly retail but it can be call center etc.)

Breaking it down for you - if 1,000 people put things in a cart, 45% of that 1,000 (450) will eventually purchase those items/something within 30 days in a retail store/not-online. If you DO have your customer data fused together, you can understand their browsing, preferred purchase channel, items bought and more! It's all mapped out - how your customers to engage with your entire brand. Combine that knowledge with predictive analytics, and you open up for amazing personalized campaigns that return big results.

HOT TOPICS TRENDING THIS WEEK

1. iMedia: 3 tips for retailers to maximize online success

Over the past year, consumer behavior continued to evolve, with shoppers spending more time researching and purchasing online and across multiple devices than they had in years past. In fact, 67 percent of consumers moved across smartphones, tablets, and desktop computers when shopping online. To keep on top of this shifting buyer behavior, retail marketers should pull out all the stops to ensure their customers are experiencing a truly connected retail experience. Here are three things retail marketers should keep in mind for a successful 2016:

  1. Embrace mobile
  2. Connect SKUs with marketing touch-points
  3. Optimize promotions and offers

2. Business 2 Community: The Ultimate Guide to Email Marketing for Retail

email marketing is the 2nd most effective ecommerce marketing channel, second only to search. With the advancement in technology and the proliferation of so much data, never before have retailers had such an opportunity to take the effectiveness of their email marketing strategies to new heights.

In fact, in a survey by StrongView and Selligent, the area in which marketers plan to increase spend is email. 6 in 10 respondents reported planning to increase their email marketing spending this year, the broadest consensus of all of the channels measured.


3. IoT Business News: Connected Retail Market Worth $53.75 Billion By 2022

The global connected retail market size is expected to reach USD 53.75 billion by 2022 according to a new report by Grand View Research, Inc. Increasing adoption of Internet of Things (IoT) across retail sector is expected to drive theconnected retail market over the forecast period. IoT offers retailers opportunities in three important areas, the supply chain, customer experience, and new channels & revenue streams.


eMarketer estimates that this year, 44.5% of all US retailers will use mobile coupons for marketing purposes, up from 40.5% that did so in 2015. We estimate that 104.8 million adults will use a mobile device to redeem a coupon or code at least once this year—or 82.1% of adult digital coupon users in the US.


 5. Small Biz Trends - 5 Tools to Grow Online Retail Sales

Using productivity tools for retail operations is always advantageous. But tools alone can’t make your business a success unless you know future retail trends and tips. So, keep exploring the awesomeness of online retail tools, and give “New Shopper Experience” to your customers.

  1. Point of Sale (POS) Software
  2. Ecommerce Websites/Shopping Carts
  3. Retail Accounting Software
  4. CRM Software to Grow Online Retail Sales
  5. Retail Marketing Automation Tool

Please feel free to leave comments below to share in this theme. We want to hear from you!