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Results of Listrak’s Annual Study of the Internet Retailer 1000 Companies’ Shopping Cart Abandonment Practices
Lititz, PA (PRWEB) January 11, 2013
Listrak, an innovator of eCommerce email marketing solutions, today released the results of its 2012 study of the Internet Retailer 1000 companies’ shopping cart abandonment practices. This is the fourth year for Listrak’s annual study, and the results show that 30.1% more companies are adopting best practices for recovering online abandoned shopping carts.
Listrak studied the number of companies that re-engage shoppers after the carts are abandoned, the number of emails the retailers send attempting to recapture the lost sale, the timing of the messages and the use of discounts or special offers in the emails.
The study found that 19% of the Internet Retailer 1000 companies are sending at least one email, up from 14.6% in 2011. The Top 500 companies had a respectable 4.8% increase over last year, with 19.4% reaching out to shoppers, while the Second 500 had a remarkably significant improvement over last year with a 75.7% increase. 18.8% of the Second 500 companies are now sending at least one shopping cart abandonment message, compared to only 10.7% last year.
The study also discovered that more companies are sending a series of messages to re-engage shoppers, instead of relying on a single message. Across the IR1000 companies, there was a 19.5% decrease in the number of retailers only sending one message, a 7.6% increase in the number of retailers sending two messages and an incredible 207% increase in the number of retailers sending three messages.
Online retailers are also sending messages closer to the abandonment time to re-engage shoppers while the sale is still top of mind. 58.7% of the Top 500 companies and 75.3% of the Second 500 companies send the first message within 24 hours of the abandonment, an increase of 14.8% and 5.9% respectively over 2011. The second message in the series is also being sent closer to the first message, with 66.5% of the Top 500 and 77.2% of the Second 500 sending within 48 hours of the first message, an increase of 8% and 43.2% respectively over last year.
The biggest surprise came in the decrease in offers. Many retailers previously relied on special discounts to tempt shoppers into completing the order; however, there was a 17% decrease in offers in the first message, a 5.4% decrease in the second message and a 7.6% decrease in the third message across the IR1000 companies. Retailers are realizing that a simple reminder message is sometimes enough to prompt customers into action.
Ross Kramer, CEO of Listrak, says, “We’re pleased to see more companies are adopting best practices for recovering abandoned carts, but surprised to find that the number of retailers using this tactic is still fewer than 20%. An automated shopping cart abandonment email campaign is the single greatest way to instantly increase online revenue. We expect to see even more companies put these practices into place this year.”
Methodology: Listrak shopped and abandoned 99% of the 1000 companies on the Internet Retailer Top 500 and Second 500 lists, which may be found here. If organizations had more than one brand or site, only one site was shopped. Sites that required a military ID, teacher ID or other exclusive membership were excluded from the study. Items were added to the carts, the checkout process was started and the carts were abandoned before the sale was completed. The same information was provided for each cart – first and last name, email address, mailing address and phone number.
Listrak is an email marketing solutions provider that works with online retailers to drive revenue growth, profitability and increase the lifetime value of customers. Founded in 1999, the company's solution suite boasts analytics technology that enhances campaign performance, shopping cart abandonment solutions that help recoup lost revenue, post purchase solutions to increase lifetime value, seamless integration across multiple platforms, as well as email, mobile, sweepstakes and more. Listrak has more than a decade of email marketing experience and works with leading U.S. online retailers, including Waterford, Ten Thousand Villages, Swell, Vintage Tub and La-Z-Boy. For more information, visit http://www.listrak.com.
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