Up to 72% of digital shopping carts are abandoned, according to research from Listrak. A key factor influencing whether shoppers convert or abandon their purchases is price.
Olerti is a cloud-based application designed to re-engage consumers with their shopping carts by allowing them to set price alerts for specific products. If original prices are reduced to shoppers’ initial target, they will receive an SMS or email alert notifying them that the target has been reached. The alert includes a product detail page link to motivate shoppers to complete their transaction.
With the solution, retailers can collect a plethora of data regarding the price points customers are interested in. By allowing shoppers to set their own price tags, companies can learn which products consumers perceive as overpriced.
“This newly developed solution is truly a catalyst for improving conversion rates and boosting sales,” said Ripal Patel, Chief Strategist and Co-Founder of Olerti. “Many e-Commerce companies always struggle with lower conversion rates and higher cart abandonment rates.”
Olteri is built on the Microsoft Azure Platform and can be integrated into virtually every e-Commerce portal.