Event based approach can be best understood relating to cart abandonments. According to Baymard Institute, a standard cart abandonment rate is 69. 23%. When an item it’s in an users cart is on sale, the user could be happy, but might get afraid that it may go out of stock. This fear makes them panic and encourages them to convert immediately.
Retargeting users who place items of their cart but do not transact can be one of the priority campaigns for ecommerce as possibilities of a sale increases because of the higher intent. Users can be given a heads up if the items are selling fast to create an urgency and/or offered with discounts to encourage immediate purchases. Every year abandon carts make e trade sellers lose around 64. 45% of sales. Now in all fairness to this industry, a huge element of cart abandonments are simply a natural final result of how users browse e trade sites. Many users will be window browsing, evaluating prices, saving items for later, exploring gift alternate options, etc but a number of them just forget they have got an item of their cart or have added something to their wish list.
A faster reminder would work like a charm here. Talking to users with numbers appearing them what number of product are left alarms users and urges them to make a purchase. Retargeting these users an encouraging them to comprehensive a purchase order can help retailers reduce this loss by upto 50%.