Optimizing the checkout experience is one of the most crucial parts of the job as a retailer, but with ever-changing customer demands and rising expectations, it can be hard to see which way the wind is blowing. The Pandemic and events of last year have amplified the consumer's desire for convenience, immediacy, and simplicity. Never before has the consumer expected so much from online businesses.
Across a multitude of industries, the needs of customers no doubt vary; however, one issue that rears its head throughout the eCommerce world is cart abandonment, and the fact that so much revenue is left behind in abandoned carts is a cause for great concern. The value of products in the average customer’s abandoned carts is $67.67 per week – a figure that eCommerce retailers can ill afford to ignore.
As such, for any business to continue to grow from an eCommerce perspective, it must embrace the changes sought by customers and investigate the innovations that can propel profits upward.
Global Commercial Director, Loqate