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nShift releases four strategies to increase conversions and revenue in online and multi-channel retail
LONDON, March 5, 2024 /PRNewswire/ -- Continued ecommerce growth is likely to lead to lower customer loyalty and increased cart-abandonment rates. Brands need to double down on the customer experience to maintain market share, claims nShift, the global leader in parcel delivery management software.
While the ecommerce market continues to grow at pace, companies may be struggling to seize their share of the ever-expanding opportunity.1 According to some studies, ecommerce cart abandonment rates have exceeded 70%, with consumers more willing than ever to shop around for a better deal and experience. This accords with further research that indicates customer loyalty to brands plummeted by 14% over the course of 2023.2
To help online and multi-channel retailers boost their profits, nShift has released a list of four strategies to increase conversions and grow revenue:
Mattias Gredenhag, CTO at nShift said, "Increasing revenue in online retail is not just about products, price, and promotions. Online and multi-channel retailers must deliver a top-rate customer experience. Now more than ever, how products are shipped to shoppers really matters.
"Our range of solutions enables retailers to create an end-to-end delivery experience from checkout to returns. With our library of over 1000 carrier connections, retailers can easily offer a range of delivery options and display them seamlessly at checkout. We make it possible to easily compare performance between carrier companies, helping warehouses make decisions to drive up standards. With nShift, retailers can send relevant, branded communications to customers at each stage of the delivery process. They can offer digital returns that help convert 30% of returns into exchanges."
www.nShift.com
About nShift
nShift is the global leading provider of cloud delivery management solutions enabling frictionless shipment and return of almost one billion shipments across 190 countries annually. nShift's software is used globally by e-commerce, retail, manufacturing and 3PL shippers. The company is headquartered in London and Oslo. It has over 500 employees across offices in Sweden, Finland, Norway, Denmark, United Kingdom, Poland, the Netherlands, Belgium, and Romania.
1 https://baymard.com/lists/cart-abandonment-rate
2 https://emarsys.com/press-release/loyalty-landslide-us-consumers-demand-more-as-brand-loyalty-declines/
3 https://startups.co.uk/news/shoppers-admit-to-abandoning-shopping-carts/
4 https://nshift.com/press/https/nshift.com/nshift-study-finds-cash-conscious-uk-shoppers-prefer-free-delivery-over-speedy-shipments
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