NEW YORK (MainStreet) – Most online shoppers have been there: You find a product you like online, you add it to the shopping cart and proceed to checkout… and then, at the last minute, you have second thoughts and close the window, telling yourself you’ll sleep on it and come back later.
It’s the online equivalent of abandoning your shopping cart in the middle of a grocery store, and indeed, e-commerce professionals refer to it as “shopping cart abandonment.” And it’s no small problem for online retailers: In an environment where backing out of a purchase is a simple matter of clicking “X” on a browser window instead of clicking “Buy,” approximately 72% of online shoppers abandon their shopping carts before consummating a purchase. And shopping cart abandonment looks to be on the rise as people get savvier about comparison shopping before making a purchase.
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“This is the number-one area that e-commerce sites are focused on right now,” says Ken Wisnefski of e-commerce marketing firm WebiMax. “When you’re looking at online retail you look at two key components: There’s just getting the user base to the site and involved, but then the big key component is conversion into sales.”
With so much money at stake in solving this problem, you better believe that online retailers are pulling out all the stops to figure out how to make shoppers follow through and make a purchase. Here are some of the tactics they use.