Abandoned Cart Recovery
See also:
Abandoned cart recovery involves strategies to encourage customers to complete purchases they left in their online shopping carts.
Definition and Purpose:
Abandoned cart recovery refers to the tactics used by ecommerce businesses to regain lost sales when customers leave the website without completing their purchase. This can include sending follow-up emails, offering discounts, or providing reminders to customers.
Techniques for Recovery:
Common strategies include personalized email campaigns, limited-time offers, or retargeting ads that remind customers of the items left in their carts. These tactics aim to re-engage customers and convince them to finalize their purchase.
Importance for Business:
Recovering abandoned carts is crucial as it directly impacts the bottom line by converting potential lost sales into revenue. Effective abandoned cart recovery can significantly boost conversion rates and improve customer retention.