Ecommerce is growing at an unprecedented rate as increasing amounts of shoppers continue to move towards online sales. Yet despite all the time and resources ecommerce brands have invested in to offer customers the most optimal shopping experience, shopping cart abandonment continues to pose a major challenge.

In 2017, retail e-commerce sales worldwide amounted to 2.3 trillion US dollars and e-retail revenues are projected to grow to 4.88 trillion US dollars in 2021. In 2018, 69.23 percent of online retail orders were abandoned, i.e. not converted into a purchase. Companies lose $8 trillion in sales revenue each year from cart abandonment.

Every shopper represents an opportunity, and with online retail sales expected to reach $4.88 trillion by 2021, dramatically reducing cart abandonments has become a primary goal for online retailers.

Organizations that succeed with reducing cart abandonments are the ones who effectively tailor and deliver personalized experiences at each stage of the journey: before a customer has abandoned their cart, as a customer is displaying abandonment intent, and after the abandonment has taken place.

Cart abandonment, rather than being seen as a rejection of a site’s value proposition, presents a unique opportunity to successfully re-engage customers on a personal level.

In our session we will discuss the most powerful and effective strategies to apply throughout the three stages of the customer journey, empowering you to maximize conversions, recover sales and reduce abandonments.