From Bob Irish, retirement expert, Palm Beach Research Group: “E-tailers” have a big secret… and knowing it can save you big bucks when you’re shopping online.

It may be hard to believe, but 68.63% of online shopping carts are abandoned before a customer completes a purchase. This phenomenon drives online merchants crazy.

Think about it. A customer has been on the site, chosen some items to buy, and at the last moment, doesn’t pull the trigger. The abandoned cart is a regular reminder of lost revenue. Converting those abandoned carts into sales is a high priority for any large e-tailer. So most have an “abandoned-cart strategy.”

Customers who fail to complete their purchase are sent what are known as abandoned-cart emails. Many of these emails look similar to this:

Chart

It’s just a reminder of what’s been left in the cart with a link back to it.

But the top reasons people abandon their carts have something to do with price. So many e-tailers’ “abandoned-cart” emails will sweeten the pot with a discount. Like this:

Chart

Not bad. A 25% discount. Just for being a little less impulsive.

So the next time you’re about to checkout online, if you don’t need the item immediately, abandon your cart. Good things come to those who wait.

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