As research finds cart-abandonment rates reach 70%, nShift has launched a new ROI calculator to help retailers calculate their return on checkout investment
LONDON, Feb. 13, 2024 /PRNewswire/ — Online retailers risk losing revenue and customers as the proportion of online shopping carts abandoned at checkout continues to rise. nShift, the global leader in delivery management software, has launched a new “Return on Investment calculator” to help retailers project the bottom-line impact of an improved checkout experience with more delivery options.
According to recent statistics, the average cart-abandonment rate is around 70%. This means that more than two-thirds of potential sales are left unrealized, costing retailers some £32bn globally.
According to nShift, by offering and clearly badging a range of delivery options, ecommerce companies can increase conversions by 20% – leading to higher revenues.
To help retailers quantify the gains they could make from an improved checkout experience, nShift has developed the Checkout ROI Calculator. Based on four simple parameters, it can give retailers an idea of the increased revenue gains that can be made by deploying nShift Checkout. It provides estimates on:
- yearly return on investment
- net incremental annual revenue
- increase in average cart value and the additional annual revenue from enabling new value-added services
Sean Sherwin-Smith, Product Director Post-Purchase, nShift said, “In order to succeed in ecommerce, businesses need to provide a great customer experience. This includes offering a wide range of delivery options, providing clear and concise tracking information, and making it easy for customers to return items.
“Too many carts are abandoned at checkout for lack of delivery options. With our new ROI tool, retailers can explore the bottom-line impact of an intuitive checkout experience with the shipping and delivery options that today’s customers expect.”
nShift Checkout fully integrates with web shops to seamlessly display a range of delivery options. By using visual cues to clearly badge different options – such as displaying a green leaf for lower-emissions deliveries – retailers can create a checkout experience that gives shoppers the shipping solutions they seek, in a way that is clear and easy to navigate.
For more information, please visit www.nshift.com
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.