Posted by Craig Abramson, Director of Marketing, Dydacomp
The beauty of the internet, where shoppers are concerned, is that there are millions of retail outlets at your fingertips. On the flip side, if a product is out of stock on your site, a potential customer may move on to another site if a substitute is not available. According to Forrester Research Inc. 88% of US online shoppers abandoned a cart in 2010. Online retailers are constantly striving to reduce site abandonment, cart abandonment and lost sales and setting up product substitutions are an easy and effective way to do just that.
Best Practices for Substitutions
- Stay in the same price range. Substitutions work best when the price of the alternative selection is very close, if not lower, than the price of the original item.
- Brand matters. If you can offer an alternative in the same brand at a similar price point it’s your best option. If not, a comparable brand is your next best bet. You might also want to consider listing two choices: a same-tier brand in the same price range and an upsell in the same brand as the first choice product.
- Offer a different size or color option. If different sizes or colors are available and listed under a separate SKU, list the variation as an alternate option.
To be continued…