- 24 November 2020 09:00
Catching the apples from an abandoned cart
APAC brands send most cart recovery emails globally as retailers focus on maximising sales opportunities heading into Peak Trading 2020
Ecommerce retailers across Asia Pacific (the APAC) region send the most cart recovery emails, in comparison to their global counterparts, as they look to rescue lost revenue and maximise every online sales opportunity, according to data from dotdigital, the leading omnichannel marketing automation platform.
However, online businesses across the region need to further streamline their re-engagement strategies and tactics in order to capitalise on increased ecommerce revenues, which have been accelerated by COVID-19, with online sales across Australia up 72.5% YOY in July 2020.1
Original research in the Hitting the Mark report, which benchmarks the digital marketing tactics adopted by 100 global ecommerce brands, revealed cart abandonment rates to be the highest they have ever been, at 70% across the ecommerce industry. As a result, inspiring shoppers to follow through with their purchase is more challenging than ever, making every single customer interaction count that much more.
The report shows while brands in Australia, New Zealand, and Singapore are sending the most cart abandonment emails, only 28% arrived within an hour, and only 33% sent more than one. Both tactics are considered to be industry best practice as they generate the highest conversion opportunities. This means brands need to work harder to maximise these lost opportunities and convert them into sales as the retail industry enters the most important peak trading Christmas shopping period on record.
With Australian consumer spending intent still negative, except for the grocery category2, retailers must ensure their marketing tactics are optimised to pursue every revenue opportunity, as Aparna Gray, APAC Head of Marketing at dotdigital, explained:
“It’s great to see the majority of APAC brands have embedded cart abandonment re-targeting strategies into their customer engagement programmes, however there is still work to be done. COVID-19 has elevated customers’ expectations and retailers and brand managers must upgrade their digital assets and constantly explore new ways to deploy them, as they cater for an increasingly discerning and fickle online customer to ensure they aren’t missing out on a large chunk of potential revenue at a time where every purchase counts.”
For more actionable insights on the strategies ecommerce professionals and marketers are utilising globally, and what this means for retailers and business leaders looking to build these capabilities in to their operations, download the full report: Hitting the Mark, Global Ecommerce Benchmark Report 2020
dotdigital’s Hitting the Mark benchmarking report looks at the tactics ecommerce brands should be adopting to overcome key marketing challenges. Spanning across three continents and 12 countries, it scored 100 brands against criteria ranging from email best practice to omnichannel adoption and user experience. Every brand was randomly selected and objectively scored depending on their adoption of these tactics.
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