Can Wishlist feature boost your conversion rates?
Making your e-commerce business run seamlessly is not an easy task. You need to perspire continuously to keep it stand out in the market. In this regards updating your website with latest features and addons is one such area where you should focus. Wishlist feature is one such addition about which we will discuss here and look at how adding it can benefit you in optimizing your conversion rates. Wishlist and its benefits A wishlist is a feature which allows the customer on your website to save the desired list of products in his/her account so that he/she can make a purchase for the same at some later time. The feature is of prime significance as it provides the customer the freedom to purchase at a time that is convenient to them. That too, without browsing again and checking for the details. Let’s see how adding this feature can benefit your website. 1. Middle ground:Adding a wishlist feature can act as a middle ground between purchase and forget. Many a times customers want to purchase a product but due to liquidity crunch or other such reason, could not make the purchase at that moment. The wishlist option allows them to secure the product in their desired list so that they can make the purchase easily whenever they want. 2. Retention:Many times it happens that a customer wants to purchase a product but due to unavailability of the product on the website he/she is unable to make the purchase. Adding the product to the wishlist will allow them to track the status of the product and a make a purchase as and when it is available.
Thus it helps in retaining the customers who otherwise might have moved on. 3. Mobile connect: It is a well-known fact that a majority of traffic on e-commerce websites is driven by mobile and tablet audience. A wishlist feature allows a connect with this audience who browse a wide range of product on their portable device to make a purchase at some later time, as it will allow them to list and save those products in a sequential manner instead of remembering all and then forgetting. 4. Track demand: It allows you and insight into market demand and provides you with information to keep your inventory updated. You can easily track the popular products by analyzing their wishlist density and also keep a track of product which are out of stock. Tools for add-on To add the wishlist feature on your website, you can opt from various extensions and modules available in the market based on your CMS platform. Magento Wishlist extension is one such tool you can opt for in order to make this value addition on your website. Conclusion The importance of relevant addons can’t be bogged down in today's e-commerce market as it can be a determinant link in your conversion rate optimization chain. Wishlist feature is one such relevant addon which you should consider if your aim is to hit the bull’s eye.