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21/08/2009 -
These days, for both consumers and businesses, every penny counts.The two do not often work together - retail stores need every last item of every sale to keep profit margins healthy, while consumers have to be very careful about ticket prices and checkout totals, leading many to abandon their purchases before checkout.
The Associated Press reported that an increasing number of consumers are abandoning items in their shopping carts before they check out, leaving retail stores without the sale and even hurt by the cost of paying workers to restock items.
Burt P. Flickinger III, a retail consultant, told the news provider that in 25 percent of shoppers' trips to the store, they are abandoning at least one item - this is compared to the 15 to 20 percent seen in the recession of the early 1990s and the 10 percent seen in non-recession years.
Retail stores can help prevent shopping cart abandonment by making the checkout process easier, faster and more transparent, leaving customers more satisfied with their experience - and thereby willing to spend more money with the store - and giving them less opportunity to change their mind.
An easy way to make the checkout process faster and more efficient is by accepting all types of credit cards and having up-to-date, modern point-of-sale terminals.
Customers will appreciate the improved checkout process, and merchants will appreciate the improved sales.
