Reduce cart abandonment by allowing shoppers to save their cart for later while customizing products.
Customers enter the online store, spend time browsing through product catalogs, add their favorites to the cart, and then, they choose to move away without making any purchases. Well, this happens majorly in many (or all) eCommerce stores.
The average cart abandonment rate is between 65% – 70% and this is a not-so-happy statistic. What can merchants and marketers do, to increase the conversion rate and reduce abandonment of carts? One, introduce product customization and two, level up by adding Save For Later option, so the customers can have an immersive shopping experience whenever they want.
Why Cart Abandonment happens?
Shoppers abandon carts for various reasons — Some are not happy with the service. Some find products too pricey. Some just want to buy later. Take a look at the most common traits of why carts are abandoned.
- Just browsing
- Research for a future possible purchase
- High shipping fees
- Surprise shipping costs
- Confusing checkout procedure
- Pricing discrepancy
- Worries about payment security
- Finding better prices elsewhere
- Unable to apply expected discount
- Store does not accept customers’ preferred payment method
- Being forced to create an account just to buy
- Deciding to put off the purchase for a while
- Unintentional cart abandonment
When the ability to design and decide is in the hands of customers, the bounce rate and cart abandonment are very less. Product customization increases conversions by 33%, and even more if you have Save For Later option integrated along.
What is Save For Later option?
It takes time and effort to buy a product!
Customers browse multiple stores, check prices at many sites, read reviews about the customer experience, and do much more. Finally, they click the Add To Cart button only at the end. Most times, it does not even happen.
But merchants cannot let customers abandon their carts just like that, because every abandoned cart is a loss of sale. Online stores can have save for later option, which enables customers to save their favorite picks for a later buying time.
Should we give this option only to buyers? No, this option can be given to everyone who enters the online store. Some step into just experience and when they like the products, but they cannot purchase it now – online stores can offer Save For Later option so customers can come back and the buying process becomes simpler.
Merchants can reduce cart abandonment by introducing save for later with product customization.
Product Customization With ‘Save For Later’ Option
Let us take a look at how adding this one feature – Save For Later will reduce your online store’s bounce rate and keeps the orders ringing.
1. It takes time
Product customization is all about the experience! The very feel of customers designing something from scratch is exciting and refreshing in the world of online shopping. And it does take to finalize the design of the product.
Customers apply multiple options suiting their tastes, and undo them immediately if they are not satisfied. Save For Later gives them the enjoyable liberty to design the product at ease without any hassles – customers can take the time they want.
2. Product Comparison
Sometimes, the buyers would want to check multiple options like color, text, image, etc. on the same product. For example, few would prefer red, and a few wouldn’t.
So, the Save For Later option assists customers to add items to the cart. After which they can go back to the beginning, and start customizing the same product in different likable ways.
In the end, shoppers can do product comparison and choose what they most admire.
3. Continue Shopping
Save For Later option also lets customers save many items they like and continue shopping for more.
Let’s say, a customer likes a product but also wants to check out other options as well, from the same window the shopper is in. That way, the Save For Later option helps the customer to continue the shopping seamlessly and provides an overall low-effort experience.
The customer can add as many to the cart. When they finally proceed to checkout, they can see all the products they added neatly stacked up, one after one.
4. Bulk Orders
The best thing about the Custom Products Industry is the mass customization it allows. Imagine a whole company using the same accessories with their brand logo printed on the product. Examples: pen, notepad, and so on.
But when it comes to bulk orders for enterprises, there would be more than one decision-makers and the design has to be approved by everyone in the hierarchy. Such circumstances, the Save For Later option becomes handy for everyone to view and pass their comments.
Even if there are changes to be made, they can be made in a jiffy if your online store is integrated with an enterprise-level product customization solution like Productimize.
Save For Later is only going to make customers back to your store, some time or later. Even if customers forget, store owners can plan mail campaigns to make them complete the design and click the buy button.
And this is how adding a simple option will benefit online stores is so many ways one would have not imagined. Why wait? Want Product Customization added to your existing or new online store wit Save For Later option, and many more compelling features? Get in touch with us and let’s get things started.
Thanks for sharing this informative article with us. I have an ecommerce store which is created on Magento framework. The website is hosted on https://www.cloudways.com/en/magento-hosting.php
I will implement the changes on my personal website and will let you how it goes.