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BizReport : Ecommerce archives : September 30, 2016

Merchants: How to make wishlists work for you

For consumers, the value of a wishlist is simple: it stands as a reminder of products we wish to buy. But, according to one expert, these wishlists can also be put to use by merchants to increase revenue.

by Kristina Knight

Kristina: Most of us know the value of a wishlist from a consumer standpoint. What is the benefit of the wishlist for a retailer?

Berkley Bowen, Cue Connect: With Wishlist technology, retailers gain shopper intelligence and through their ability to share and save items. With the technology's data, retailers can unlock insights from existing shopper behaviors - such as items they're sharing with their friends or saving on their Wishlist - to integrate more personalized touchpoints into their everyday engagement strategies. It truly empowers retailers to build custom experiences and deliver relevant content at the point of sale, leading to higher satisfaction levels, increased site traffic, improved conversion rates, larger basket size and average order value.

Kristina: How can retailers make wishlists actionable?

Berkley: Having an in-depth analytics and reporting of what your customers are talking about, sharing, and saving on their Wishlist, retailers can communicate with their customers like individuals and build custom experiences that deliver relevant content at the point of sale. With this technology, retailers can stay connected to their shoppers within the context of their selections by sending price alerts or offers on the items customers care about or are trending, sending freebies on customer's birthday or pushing out personalized messages based on life events.

Kristina: How can wishlists be used to create better but still anonymized customer profiles?

Berkley: The path-to-purchase is no longer linear, with consumers swimming in a sea of activity from every direction. With Wishlist data, retailers can pull unique insights on each individual customer to build a comprehensive customer profile and map out who each customer really is and really wants. With insight into what they are sharing, talking to their friends about and saving, retailers can create a profile that delivers significant, personalized and individualized content.

Tags: Cue Connect, ecommerce, ecommerce tips, ecommerce trends, ecommerce wishlist, wishlists

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