New Research Aids Retailers with Revenue Recovery Opportunities

Research by Bronto and Demandware provides insights and best practices from top retailers on how to optimize shopping cart abandonment marketing

Aug 11, 2015, 09:15 ET from Bronto Software

DURHAM, N.C., Aug. 11, 2015 /PRNewswire/ -- Bronto Software, the leader in commerce marketing automation, today released the second part of its "Revenue Rescue: Saving Sales When Shoppers Stray" study. This study, conducted jointly with Demandware®, the industry-leading provider of enterprise cloud commerce solutions, provides an audit of the product page abandonment and shopping cart abandonment strategies of more than 100 major U.S. retailers. The report highlights the methods that are helping retailers shift from promotional marketing to customer-centric commerce marketing. Those methods include an evolution of existing shopping cart strategies to rescue potential lost revenue and build long-term customer loyalty.

According to Bronto's "Consumers Tell All" report, Part 3, 40% of online shoppers leave items in a shopping cart to view later, on the same device, a different device or in a brick-and-mortar shop. To keep today's shoppers engaged and buying, this data shows that retailers are going beyond a singular focus on shopping cart abandonment. Retailers are rethinking the way carts are structured, how the checkout process flows and what can be done to reach the shopper who leaves a cart behind.

"The Revenue Rescue research results revealed that 41% of retailers send cart reminders, representing a three-fold increase since 2013," said Jim Davidson, head of research at Bronto Software. "Cart reminder emails give commerce marketers the opportunity to connect with a shopper and provide a helpful customer-centric experience."

The results also showed that customers must navigate an average of 5.5 pages from shopping cart to order confirmation and 10% of retailers still require the shopper to register when ordering. "There is still room for retailers to improve the way the shopping cart looks, feels and operates to facilitate the shopper's desire for a seamless online and in-store experience – and reduce true abandonment," Davidson added.

Additional highlights in this research include:

  • Cart Features and Previews: How retailers give shoppers product-related information or item previews in the shopping cart.
  • Checkout Considerations: What's involved to complete the checkout process. Also, how retailers indicate checkout progress and use order summaries before an order is submitted.
  • Customer Service Information: Tools retailers provide to help customers connect the online and in-store experiences, as well as resolve issues with their orders.
  • Cart Reminders: How retailers use message timing and frequency to achieve results, and what retailers do with subject line and message content personalization.
  • Product Focus: What product-focused attributes retailers include in cart reminders to influence revenue recovery.

The first part of the series, which focuses on product page abandonment, was released in May 2015.

For this study, more than 100 retailers were randomly selected from a set of over 500 brands. The total set of retailers and the sample uses may include clients of Bronto and/or Demandware, but any inclusion is random.

Download "Revenue Rescue: Saving Sales When Shoppers Stray" today.

About Bronto Software

Bronto Software, a NetSuite (NYSE: N) company, provides a cloud-based commerce marketing automation platform to mid-market and enterprise organizations worldwide. Bronto is the number one ranked email marketing provider to the Internet Retailer Top 1000, with a client roster of leading brands, including Armani Exchange, Timex, Samsonite, Theory and Vince Camuto. The Bronto Marketing Platform is deeply integrated with commerce platforms, such as NetSuite, Magento, Demandware and MarketLive. The company is headquartered in Durham, NC, with additional offices in London, Sydney, New York and Los Angeles. For more information, visit bronto.com.

 

SOURCE Bronto Software



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