Today’s economy looks drastically different than it did a handful of years ago. When the COVID-19 pandemic started to spread around the globe with incredible quickness, a series of events was set into motion that would forever change the landscape of our markets. Many businesses shut their doors for good, while others transitioned to a mobile friendly and remote work environment. This also included transitioning many operations to a remote setting.
In turn, with everything running remotely, a huge wave of consumer activity transitioned to an online space. E-commerce has been around for a while already, and there’s a reason that behemoth companies like Amazon have found such unprecedented success with modern consumers. It’s a combination of convenience, technology, and properly serving the needs of modern consumers.
With such a large portion of sales coming from one online source or another, it’s important to understand the fundamentals of a successful e-commerce operation. One thing that many e-commerce brands struggle with is abandoned shopping carts.
The following tips will help any modern organization reduce the number of abandoned shopping carts left by consumers in their online store.
“Many factors are driving [e-commerce] growth, including logistics, mobile device ownership and marketplace expansion. For investors, this means the e-commerce boom will likely continue, offering opportunities for gains across multiple businesses, regions and verticals—and at a time when recent stock valuations don’t necessarily reflect that growth.”
– Morgan Stanely –