Seventy percent of online shoppers abandon their carts during checkout (this represents an astounding amount of lost sales!). This from a recent study of more than 1,000 consumers by Splitit, an installment payment solution, and Google Consumer Surveys, which revealed findings that should be directional for retailers struggling with cart abandonment. Retailers should pay close attention to cart abandonment to better capitalize on the surging eCommerce market, expected to see nearly 60% growth in sales by 2022.
A recently released study of over 2,500 students from the University of Mississippi and Purdue University, conducted by MNI Targeted Media, reveals insightful nuggets about both the purchasing behaviors and media consumption habits of the post-millennial generation better known as Generation Z. Advertisers should pay close attention to this group, born between 1995 and 2012, that’s currently a quarter of the U.S. population and is expected to account for 40% of all consumers by 2020. Continue reading “Keep an Eye on Generation Z”
Smaller merchants who sell products with Amazon, craving more leverage, are beginning to join the newly founded Online Merchants Guild. As the threat of states levying back taxes on past sales looms, merchants, likely to be easier targets than Amazon, are hoping that a group such as the Online Merchants Guild will give them the lobbying power they need to thwart such legislation. Continue reading “Online Merchants Guild… The Future of Ecommerce Merchant Sales?”