2011 Abandoned Shopping Cart Email Strategies Report: Email Institute and Multichannel Merchant Unveil Analysis of Abandoned Shopping Cart Marketing Strategies
Examination of Over 100 Retailers Email Programs Reveals That Over Two-Thirds of Retailers Surveyed Do Not Send Abandoned Shopping Cart Remarketing Emails
Dallas, Texas — February 22, 2011 — According to a recent study by Email Institute, Epsilon’s email marketing best practices destination, and Multichannel Merchant, savvy marketers must leverage data on shopping cart abandonment as an opportunity to win back customers with triggered emails. Only 30.7% of retailers surveyed are taking advantage of abandoned shopping carts to reengage with consumers. This represents a significant missed opportunity for over two-thirds of retailers.
The report details the abandoned cart email strategies of over 100 brick-and-mortar and online retailers, based on data collected from November 2010 to January 2011. Email Institute and Multichannel Merchant abandoned shopping carts holding merchandise worth a minimum of $50 and up. The research also includes case studies and best practice tips to help retailers improve or refine their abandoned cart strategies.
In the key findings from the 2011 Abandoned Shopping Cart Email Strategies Report:
- More than two-thirds (69.3%) of retailers surveyed did not send abandoned cart emails, a costly mistake;
- Of the 30.7% of retailers that have sent abandoned cart emails to customers, 45.1% included product images and 16.1% included an incentive to influence customer behavior;
- Time is of the essence and 32.3% of retailers that sent abandoned cart emails mailed them within 72 hours;
- Sometimes more than one message is necessary to break through inbox clutter and 16.1% of retailers that sent abandoned cart emails recognized this and sent multiple messages.
“Abandoned cart emails are perfect opportunity to reach consumers at exactly the right time while they are evaluating your products online. In addition, the cues consumers are giving you about their product interests can be instantly leveraged in follow-up emails that we as marketers know will be relevant,” said Kevin Mabley, senior vice president, Epsilon Strategic & Analytic Consulting Group. “As with all other types of email marketing, testing creative, subject lines, discounts and offers will help marketers get the most out of abandoned cart emails. Abandoned shopping carts are a prime opportunity to engage with customers on a one-to-one basis and marketers must take advantage to remain competitive and nurture the customer relationship from initial product interest all the way though to conversion.”
“Follow-up trigger emails sent to shoppers who failed to complete their online purchase have been proven to salvage what would otherwise be lost sales. That’s why it’s surprising, and sad, to see that fewer than one-third of the retailers surveyed for the report actually use this tool. The data and advice in the report, however, should convince marketers that not only are abandoned cart email programs effective, but they can also be set up fairly easily and inexpensively,” said Sherry Chiger, editor-at-large, Multichannel Merchant.
The 2011 Abandoned Shopping Cart Email Strategies Report, associated case studies and a webinar highlighting the findings of the report can be downloaded at http://www.emailinstitute.com/premium/abandoned-shopping-cart-email-strategies-report.
The 2011 Abandoned Shopping Cart Email Strategies Report is the third component of a four-part research series that documents the customer lifecycle process and email marketing campaigns of brick-and-mortar and online retailers. Part one, the 2010 Customer Registration Best Practices Report, was published in September 2010. Part two, the Welcome Email Strategies Report, was released in November 2010. Both are available for download on http://www.emailinstitute.com. Research on the unsubscribe process will be available in May 2011.