Large U.S. retailers over $1 billion saw a nice Prime Day bump on July 15 according to data from Adobe Analytics, with a 64% increase in sales vs. a typical Monday, up from 54% last year. Smaller retailers under $5 million, meanwhile, realized a smaller 30% sales lift, Adobe said. Meanwhile, some checkout glitches recurred this year.
Dramatic changes in retail can be seen through the lens of large and small technology companies. Retailers are facing an urgent need to improve shopping experiences, and no retail technology is more exciting than autonomous checkout. Here are five hurdles that need to be cleared to make any idea a viable market solution.
The shopping cart is a key component in the overall customer journey yet online retailers continue to lose millions in sales to cart abandonment. In our latest MCM CommerceChat podcast, Amitai Sasson, Vice President of Marketing and Development for overstockart.com, talks about how his company did a complete overhaul of its shopping cart page to improve conversion rates.
A site abandonment survey of more than 60,000 ecommerce shoppers by Bizrate Insights found that retailers can reduce abandonment of those customers who visited with the intent to buy, but didn’t complete a purchase, by listening to their problems and their proposed solutions. See more about what the survey revealed and what it means for your business.
It goes without saying that the cross-border ability to reach billions of consumers around the world presents a tremendous opportunity for businesses. However, retailers are faced with pitfalls in the payment process, resulting in more abandoned carts than ever. Here is how retailers looking to go cross-border with their business can avoid these payment headaches in the shopping cart.