RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce archives : October 04, 2016

Expert: How to turn wishlists into marketing gold

Wishlists may serve as reminders for customers, but for merchants, wishlists can be used to better personalize the shopping experience or to re-engage lapsed shoppers. One expert explains.

by Kristina Knight

Kristina: Do you see wishlist tech changing the e-commerce space?

Berkley Bowen, Cue Connect: According to a study by SaleCycle, digital shopping cart abandonment is at a worldwide high, with nearly 75% of shoppers failing to carry-through with a purchase. This indicates that consumers are going through the entire e-commerce process and adding items to their shopping cart they aren't ready to purchase. Once they leave the site, the data is lost forever. By providing consumers with an opportunity to save items that they're interested in, retailers can go one step further in curating the shopping process, by sending price alerts and personalized discounts, which can convert more sales and lead to stronger customer connections.

Kristina: Are wishlists something that are only valuable in the digital space or can these lists be made valuable in brick-and-mortar stores, too?

Berkley: Through highly timely and relevant shopper alerts, Wishlist technology can addresses the challenges presented by the increased fragmentation of retailers' online and physical presence. Using beacon technology, Wishlists can deliver timely and relevant location-based mobile alerts. These notifications prompt customers to their mobile app by flagging items on their Wishlist when they enter - or are in close proximity to - their store. Notifying nearby shoppers about when an item they've been waiting to buy goes on sale, or is almost out of stock, or about special offers to entice them to make the purchase before time runs out. With proximity marketing technology, a shopper's path to purchase can begin online and stay connected around items they are interested in all the way through to their local retail store.

Kristina: How can a retailer take wishlists from simple lists for customer reference into a valuable piece of marketing tech?

Berkley: While the "Wishlist" function of e-commerce sites have remained somewhat stagnant as massive transformations in other areas of the industry have taken place, it's now the Wishlist's time to shine. Newer Wishlist solutions are dynamic and differentiated by aligning with existing customer behaviors, rather than attempting to modify them. It fits with the way consumers already shop to help them make better, more informed decisions throughout the entire customer journey. Having a place to organize items that customers are interested in from multiple websites is the future of Wishlist technology. This also provides in-depth insights to retailers, allowing them to break down siloes and benefit from a mountain of customer data readily available to them.

Tags: Cue Connect, ecommerce, ecommerce lists, ecommerce wishlists, wishlist tech

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.