Boost sales: 3 strategies to lower cart abandonment

With the holiday shopping season returning, there’s often a spike in online cart abandonment, resulting in numerous potential purchases being left unfinished. This problem affects retailers throughout the year, but its consequences during peak season can greatly influence their profitability. For retailers hoping to make the most of their holiday sales, it is vital to deal with abandoned carts.

Syndigo’s new research indicates that the rate of abandoned e-commerce sales is increasing. The 2024 State of Product Content survey revealed that 50% of consumers abandoned a purchase due to insufficient product information for a confident buying decision, marking an increase of nearly eight percent compared to the previous year.

As holiday deals approach and retailers vie for shoppers’ money, it is crucial for consumers to have access to detailed product information so they can make the best-informed purchasing choices—decisions that will help boost check-out performance rates. Additionally, there are the challenges of maintaining an inventory of desired products and providing prices that are competitive.

Racing past the uncertainties Everyone has experienced second thoughts regarding something in their online shopping cart. Perhaps you were initially fond of the red product but desired to view it in blue prior to clicking “purchase.” Maybe you’re generally a medium in your go-to brand’s clothes, but you want to verify the fit guide to ensure their size hasn’t changed.

Such reservations can jeopardize a sale. Offering a thorough content experience is crucial for establishing customer trust prior to adding an item to their cart, but it holds equal significance in the final moments leading up to the purchase.

Begin now to ensure your product pages are as detailed as possible. It is advisable to have several photographs of each product in all available colors and styles, detailed sizing charts, and a comprehensive inventory of the ingredients and materials utilized in its production.

Does your site accommodate a range of enriched content types, such as videos, 360-degree views, and features that allow customers to “try” on clothes using an uploaded image of themselves? When customers receive all the necessary information for making optimal choices, it increases the likelihood of their purchase completion. Indeed, the State of Product Content 2024 report discovered that enhanced content can boost conversion rates by 39%, and 40% of respondents indicated that they would be more receptive to a purchase, especially with 360-degree views.

Just one last consideration: The quality of content syndication networks can vary widely. Ensure that your network provides brands and manufacturers with the widest possible access to upload their product information to your site easily. This guarantees that you will get their most recent product data and images instantly, ensuring that the materials for that reindeer sweater and the nutrition facts for your customers’ Christmas casseroles are consistent across all your digital channels.

Steer clear of the out-of-stock Grinch When a customer has already added an item to their cart, an out-of-stock error is guaranteed to lose you that sale and undermine the customer’s faith in your brand. During holiday sales, items sell quickly. When customers find out that a product is out of stock after having spent time on your checkout page — time they could have used on another site with a sale — their response might be more than just “frustrated.”

If your inventory management system does not align with your e-commerce platform, consider upgrading to a solution that provides real-time availability insights. A master data management platform that integrates with out-of-stock reports can facilitate quick alerts on sold-out items to initiate replenishment. This prevents customers from wasting time on purchases of non-existent inventory or from becoming frustrated when they do not receive the item due to a lack of stock.

Furthermore, think about adopting a more customer-friendly approach to out-of-stock situations. A lot of shoppers buy items at the last minute, hoping these will arrive by or on Christmas Day. Therefore, make it abundantly clear whether the product can meet that deadline. If not, think about providing motivation to preserve the sale. To prevent negative experiences and ensure customers return year-round, a clear out-of-stock policy is essential.

Adorn the corridors with immediate price reductions Consumers are aware that a more advantageous price could be only a few clicks away on a different merchant’s website. Your aim is to eradicate any hesitation linked to pricing, thereby guaranteeing that customers finalize their purchases without doubting their choices.

If you possess a product information management solution, verify whether you can access a competitor report containing real-time data on competitor deals, ratings, and discounts. Between early November and Christmas, this information can change quickly. Keeping an eye on these rival products allows you to evaluate and improve your market positioning so that you stay competitive while avoiding the need for extra resources.

Want to take a more proactive approach to holiday pricing? By utilizing promotions reports, you can outpace your competitors in securing better discounts. By utilizing these insights based on data, you can gain an understanding of the kinds of deals, discounts, and limited-time offers that will allow for the optimization of your promotional plans, thus enabling you to establish a strategy weeks in advance of the rush.

Master holiday sales from cart to checkout In e-commerce, simplicity is a best practice. Your goal is a user experience that is simple to navigate, featuring clean buttons that are easy to see and minimal touch points between “add to cart” and “purchase.” But you also have to get ready for unforeseen obstacles that may halt a sale and provide customers with a reason to linger on your site even if they move away from the cart.

That is the point at which a more profound insight into product data can assist you in achieving success during the holiday season. As you monitor stock levels and competitor prices, analyze your promotions history to provide tactical markdowns, and make sure your product pages feature captivating content, you’ll reduce the reasons for customers to doubt their purchases while increasing the reasons for them to click “purchase.”