As your child wrote their letter to Santa, did you glance at their wish list? Retailers are using wish lists to sneak peeks at their customers’ favorite products and make smart buying choices. This holiday season, you can create a variety of wish lists to capture valuable customer data as you head into the New Year.
E-Commerce Wish Lists
Have you ever visited a website, taken a closer look at a piece of merchandise on a product detail page (PDP), and saw the option to add the product to a wish list? Wish lists make it possible for customers to keep a product on their radar until their ready to complete the purchase. “Wish lists are mutually beneficial (to retailers and customers): they give customers an easy way to remind themselves of a product and help merchants measure product interest beyond a clear-cut sale,” says Big Commerce.
Image courtesy of NCR Retail Online
According to the National Retail Federation’s Holiday Planning Playbook, “Only a quarter of respondents said they used online wish lists and registries from retailers in 2016, but more than six in 10 would like to use more online wish lists in the future.”
Mi9 Retail offers a long list of reasons to use wish lists for your retail business. Here are a few…
Advantages for Customers
- Wish lists can often be shared with family and friends through social media and email, which means customers get exactly what they’re asking for
- Customers can take their wish lists to a retailer’s brick-and-mortar and ask a store associate to help them compile their merchandise or hone in on the products they really want
- Wish lists enhance the in-store experience, so customers remember which products they want to try-on or examine materials and sizing before buying
Advantages for Retailers
- Retailers can use email to follow up with customers who created wish lists and offer them discounts, or inform them of low stock to encourage the purchase
- Retailers can send emails suggesting related product if the item on their wish list isn’t quite what they were looking for
- Some mobile apps make it possible for shoppers to scan barcodes in-store and automatically add merchandise to their wish list
- When family and friends use a wish list to purchase products for your customer, they might become a new customer themselves or pick-up an additional purchase
Now more than ever, wish lists just make sense for omnichannel consumers. “As the number of shoppers using mobile devices to research and order online continues to grow, wish lists will become more relevant to the ecommerce experience,” says Big Commerce. “Of these consumers, 59 percent state they will use their tablet or smartphone to help make direct online purchases.” This means wish lists will help customers keep track of their prospective purchases as they switch between devices and desktops.
DIY: For $10/month, retailers who use Shopify to run their website can launch “Wishlist for Shopify” on their online store. But if you’re a true DIY-er looking to cut costs, encourage your small business shoppers to submit screenshots of their favorite products through your email or social media accounts; save their top picks; and email their wish lists to family or friends on their behalf. Otherwise, equip in-store staff with devices to track customers’ selections so shoppers can email their list to themselves, or choose to share it with others.
Social Wish Lists
At OFFPRICE, we talk a lot about the power of social media for retailers. Another wish list you can definitely take advantage of involves letting your customers direct your buying choices.
DIY: If you’re considering purchasing some new products, share the product on your Instagram or Facebook and ask your loyal shoppers to vote for the color or style they like best.
When you let your shoppers take the wheel, you can be more confident that your merchandise won’t sit on the rack long. When you do purchase a customer choice product, follow up with your shoppers on social or mark it in-store or online a top-choice piece.
Your customers aren’t always shopping for themselves—especially during the holiday season. Now would be the perfect time to send your retail business’ top-selling products out in an email so customers know what to buy friends or family.
DIY: Pair your list with a special promo code, or BOGO offer and sales will flurry in. Select a variety of products by category and price for your list so customers can either purchase that extra small add-on or make a larger purchase if they’d like to spend a higher dollar amount.
Register to attend the OFFPRICE Show February 10-13 in Las Vegas to fulfill your customers’ apparel, footwear, and accessory wish lists.