If your eCommerce website is suffering from abandoned shopping carts or lack of customer engagement, a wish list may be the antidote. A wish list allows customers to keep track of the items they want to purchase from your store or share that list with others who want to buy them a gift.
About 72 percent of Millennials do research online before choosing to purchase a product. Once you have them on your website, you can track what they are interested in by having them sign up for a wish list. While the majority of sales are still completed at brick and mortar stores, you can begin to change this by making online shopping as simple and convenient as possible.
There are many reasons why your eCommerce website should have wish lists. Here are six:
1. Navigating a Big Catalog
If you have a wide range of products in your online store, offering the ability for users to save their favorites to a wish list is a smart move. Finding that same product a second time might not be as easy as it sounds if the consumer has to leave and comes back to your site later. However, if he or she can save the item to a wish list, the list will take him right to that item again.
Amazon is an excellent example of a site with so many different items that it can be difficult for consumers to find that exact thing they were once looking for. Fortunately, they also offer the ability to start wish lists. You can make the lists public to share with family and friends for birthday or Christmas, or you can make your list private.
2. Out of Stock Reminders
No matter how well you plan your eCommerce inventory, there will be a product, at some point, that sells out of stock, even though it is still in demand. One of the great things about offering lists on your site is that you can also offer the opportunity for the person to add the item, and you can send a reminder to those people when the item is back in stock.
Because some purchases are impulsive, the person might forget to check back on her own. However, when you email a reminder, she will remember how much she loved that product and be more likely to purchase it
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3. Expands Your Traffic
er the ability for people to start a wish list, you also expand your traffic. The person adds the item to a list and then sends others there to see what he or she wants. This means that instead of just getting the traffic from one person, you get traffic from every person who visits your site. Those visitors might just start wish lists of their own.
Dover Jewelry allows users to add rings to their wish list. This is the perfect feature for a site that sells engagement rings. The potential fiancé may not know what to purchase, but his girlfriend can add the ring styles she likes to a list and allow him to choose from those. The lists can also be utilized for individuals to mark jewelry they’d want to buy.
4. Pushing Sales
There are times when you may have too much inventory or you need to move an item to make room for new inventory. You can also utilize wish lists to inform your customers when an item on their list goes on sale. If they’ve already been thinking about buying the item, getting a notice that the product is discounted might push them to go ahead and make the purchase.
5. Know What Your Customers Want
A great reason to add a wish list feature is that it clues you into what your customers are most interested in purchasing. This can help you plan your inventory and the future products you might offer. Even though a wish list isn’t a purchase, it does show a pattern of what people want.
Sephora offers tons of different beauty products but seems to frequently have the most popular items in stock. One way they gauge which products people want most is by offering a “Loves” list. The consumers can click on a heart to add the item to this list. Not only does this show Sephora what the customer likes, but it also makes shopping super easy for the consumer. She simply goes to her Loves list and adds the items to her shopping cart.
6. Outshine the Competition
Today’s consumer is pretty savvy. Many of them thoroughly research a product before choosing to buy. They may visit your site as well as several competitors seeking the best deal. One way you can get ahead of the competition is by utilizing your wish list to reach out to these people.
For example, send an email and offer free shipping on their first purchase. Or, perhaps you have some additional items that go well with the wish list item and can offer a competitively priced package of products.
Wish Lists Are a Must
When you look at all the benefits of adding wish lists to your eCommerce site, you see that offering this feature for your site visitors is a must. Not only does it allow you to provide a valuable service to consumers, but it also provides you with information that will allow your business to grow more easily.
Don’t limit your customers to just one list either. Model your lists after Amazon and allow customers to add a list to share with family and friends as well as a private list for their use. With a bit of forethought, you can increase your conversions and sell to those more reluctant buyers.