Report reveals consumer attitudes on shopping cart abandonment
Durham, N.C. — Marketers are constantly combating shopping cart abandonment, and with good reason: Abandonment rates range from 70%-80%. The good news is that much can be done to reduce abandonment, recapture sales from abandoned shopping carts, and provide a better shopping experience for consumers, according to a new report by Bronto Software and Magento
The study, “Why We Don’t Buy: Consumer Attitudes on Shopping Cart Abandonment,” is based on an Ipsos-conducted survey of the shopping cart behavior of over 1,000 U.S. consumers who made an online purchase within the past twelve months. It shows that consumers often use the shopping cart as a tool for saving items to buy later: Fifty-six percent of consumers who purchase online at least once a month use the shopping cart to store items to buy later.
“Providing options for shoppers to modify carted items, like changing sizes, colors, or quantities, can aid the decision making process for many consumers and increase the likelihood that they’ll buy rather than abandon,” said Jim Davidson, Bronto’s manager of marketing research and the report’s main author. “Many consumers are also using shopping carts as ‘wish lists’ so they can store items to buy later. Marketers who add a wish list option to the shopping experience gain another opportunity to convert shoppers to buyers.”
“The findings in this report point to the need for retailers to improve shopping cart options and flexibility in order to give shoppers more confidence to cart and purchase their items,” said Ryan Thompson, Magento’s director of partnerships. “Another important takeaway is for retailers to provide innovative and fun ways for consumers to browse, consider purchases and update their shopping carts and wish lists.”
In other findings:
- Nearly half of all consumers surveyed find the shopping cart abandonment reminder emails they receive to be helpful versus annoying or intrusive, and 61% report they’re likely to return to a site after receiving such messages.
- Forty percent of consumers will use the online shopping cart to store items to view on a different device. Providing shoppers with a mobile optimized cart experience can help retailers convert potential abandoners into buyers.
- Thirty-five percent of consumers will view online shopping carts on a mobile device while in a store. Is your store staff prepared to help the online customer transition their purchase intent to in-store buying?
SAP announces new customer-centric solution to help retailers improve operations
Dallas — To help retailers better understand and act on consumer behavior in the fast changing retail market place, SAP AG announced the SAP Customer Activity Repository application, a new retail data repository powered by the SAP HANA platform.
The new application is intended to support retailers in becoming more customer-centric by bringing together customer, sales and inventory information from siloed applications. A unified view of the customer shall help retailers drive consistent experiences across all channels and improve business efficiencies, profitability and brand perception. The announcement was made at the SAP Retail Forum North America, being held on Oct. 7 to Oct. 9 in Dallas.
“To present our brand to a growing base of digital natives and active sports enthusiasts, providing information right now is a key differentiator,” said Stephen McDonnold, CIO, PGA Tour Superstore. “Utilizing SAP Customer Activity Repository and SAP HANA will allow us to provide instantaneous inventory availability, targeted promotions and cross-channel fulfillment to our on-the-go consumers.”
Shoppers are demanding more choice and richer content at all times, on any device. To meet demand, retailers must deliver more personalized content, faster and across all channels. SAP Customer Activity Repository aims to empower retailers with consumer insights by consolidating customer interactions from stores, online and mobile channels with insight from social media feedback such as Twitter or Facebook posts. The information shall act as the basis for a “single source of truth” to help retailers optimize branding, marketing, promotions, pricing, merchandising, inventory management processes and more.
“As consumers expand their shopping experiences across multiple purchase channels, retailers have an opportunity to engage more fully and provide more personal interactions,” said Lori Mitchell-Keller, global head, industry business unit retail, SAP. “This is a daunting task, requiring access to multiple databases and tools. With SAP Customer Activity Repository, retailers will have access to powerful consumer insights, be able to centralize critical business data and run reports instantly, and make better business decisions that support both sales and the customer experience.”
SAP HANA is designed to help businesses make smarter, faster decisions through real-time analysis and reporting combined with dramatically accelerated business processes. As the backbone of the new SAP Customer Activity Repository app, it is intended to deliver lightning-fast insight at a user-determined level of detail, helping eliminate the time needed to handle multiple data transactions in the point-of-sale transaction log, other sales channels and reporting systems.
Sport Chalet sets sights on yogis
Specialty retailer Sport Chalet is promoting its yoga apparel and gear to experienced yogis and first-timers alike.
Now that temperatures are getting cooler, some people may be taking their workouts indoors, but yoga is hot and continues experiencing growth. Taking this specific marketing approach positions Sport Chalet to compete with specialty retailers like Athleta and Lululemon — much like Target has done with its recent unveiling of an exclusive collection of fashion-forward lifestyle apparel for men, women and children called C9 by Champion.
"Pairing yourself with the correct gear is important, particularly when the sport requires the use of your body as the weight," said Hallie Moyer, buyer at Sport Chalet. "Yoga relies heavily on balance, so what is under your hands and feet to help support your alignment is critical. At Sport Chalet, we educate our customers on how to select the right equipment to augment their workout of choice, helping yogis hit the mat with confidence."
Founded in 1959 by Norbert Olberz, Sport Chalet has 52 stores in Arizona, California, Nevada and Utah; an online store at www.sportchalet.com; a team sales division; and offers more than 50 specialty services for the sports enthusiast, including online same-day delivery, climbing, backcountry skiing, ski mountaineering, avalanche education, and mountain trekking instruction, car rack installation, snowboard and ski rental and repair, Scuba training and certification, Scuba boat charters, team sales, gait analysis, baseball/softball glove steaming and lacing, racquet stringing, and bicycle tune-up and repair at its store locations.