London, Feb. 13, 2024 / PRNewswire / – A recent study has shown that the rate of shopping cart abandonment has reached 70% globally. In response, nShift, one of the leading companies in the delivery management software industry, has just unveiled a new ROI calculator. The purpose of this tool is to help retailers analyze their return on investment in the checkout process, especially as it pertains to delivery options.
As this article from LinkedIn elucidates, the average cart abandonment rate stands at around 70%, leading to substantial lost revenue for retailers across the globe. Costing businesses some £32bn, this has become a significant problem that brands have to face in their operations. By indicating that offering various delivery options, ecommerce firms can boost their conversion rates by 20%, nShift wants to underscore the importance of a clearly defined checkout process.
To combat this, nShift has launched a product which provides a suite of shipping and delivery options to online retailers. The tool also includes a newly developed calculator that forecasts potential gains based on the deployment of nShift Checkout. This instrument offers estimates for the yearly return on investment, net incremental annual revenue, increase in average cart value, and additional annual revenue from value-added services.
The product’s development involved Sean Sherwin-Smith, Product Director Post-Purchase, nShift. He explained that creating a seamless customer experience is paramount to achieving success in ecommerce. Offering a diverse range of shipping alternatives, coupled with easy return and tracking processes is of paramount importance. As a result, the tool is designed to help businesses gauge the potential impact of an intuitive checkout experiences powered by a wide array of shipping and delivery options that cater to modern consumer expectations. It truly promises to revolutionize the e-retail scene.
Enabling a variety of delivery options and integrating seamlessly with digital retail platforms, nShift Checkout offers a customizable and intuitive checkout experience. It uses visual elements to clearly indicate different options – for instance, a visual cue such as a green leaf for green shipping options. This creates a streamlined and user-friendly checkout process that provides a diverse selection of shipping alternatives in a clear and easily navigable manner.
For more information about nShift and the latest developments, visit their website: http://www.nshift.com
About nShift
nShift is a global leader in cloud delivery management solutions. The company manages nearly 1 billion shipments annually, catering to close to 190 countries. Their software is relied upon by ecommerce firms, retail brands, manufacturers and third-party logistics providers across the globe. With its headquarters in London and Oslo, the company operates across 9 offices in Sweden, Finland, Norway, Denmark, the United Kingdom, Poland, the Netherlands, Belgium, and Romania.
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