Price comparison is a common practice for online shoppers, especially when they want to ensure they’re getting the best deal. In fact, 42% of customers abandon their carts to compare prices on other websites. While this is a natural part of the buying process, it can be frustrating for retailers who lose potential sales to competitors. How can online stores retain shoppers, reduce the likelihood of cart abandonment due to price comparison, and create a more attractive buying experience?
When customers shop online, they often feel uncertain about whether they’re getting the best price available. This uncertainty is particularly problematic in competitive industries like electronics, fashion, or home goods, where small price differences can influence the customer’s decision.
If a customer adds items to their cart and then leaves to check prices on competitor websites, there’s a risk they may find a better deal and not return. Even if the price difference is minimal, additional offers like free shipping, discounts, or loyalty points from other stores can sway the shopper to purchase elsewhere.
Moreover, the rise of price comparison websites and apps has made it easier for customers to compare deals across multiple platforms in seconds. For online retailers, the key is to keep shoppers engaged and provide incentives that make staying with them more appealing than shopping around.
42% of customers abandon carts to compare prices on other websites (Source: Consumer Research 2023).
Price-sensitive shoppers are 50% more likely to complete a purchase when offered a time-sensitive discount or promotion (Source: E-commerce Promotions Study 2022).
66% of customers say they would stay loyal to a retailer if offered personalized discounts or rewards (Source: Shopper Loyalty Study 2023).
To retain customers who might abandon their carts due to price comparison, online retailers need to offer competitive pricing and compelling incentives to keep shoppers engaged. Here are several strategies to help prevent cart abandonment:
Display Competitive Pricing and Price Matching
One way to prevent price-driven cart abandonment is to make it clear that your store offers competitive pricing. Consider displaying messages like “We offer the best price” or highlighting limited-time promotions directly on the product page.
If feasible, implement a price-matching policy that reassures customers they won’t find a better deal elsewhere. For example, include a statement on the product page that says, “If you find a lower price on this item, we’ll match it!”
This approach gives customers the confidence to complete their purchase without needing to check competitor sites. However, be sure to clearly outline the conditions of your price-matching policy to avoid confusion or abuse.
Offer Time-Sensitive Discounts
Price-sensitive shoppers respond well to limited-time offers. By creating urgency with a time-sensitive discount or promotion, you can encourage customers to complete their purchase before they leave to compare prices. Displaying countdown timers (e.g., “10% off if you purchase in the next 24 hours”) or offering flash sales can add a sense of urgency that prompts immediate action.
This tactic is particularly effective during sales events like Black Friday or seasonal promotions. However, it can also be used for personalized promotions, such as sending abandoned cart reminders with a discount that expires in a few hours.
Provide Free Shipping or Bundle Offers
Another effective way to retain shoppers is by offering free shipping or bundling additional items at a discount. For example, offering “free shipping on orders over $50” or “buy one, get one 20% off” can give shoppers a reason to complete their purchase without leaving your site.
Shipping costs are often a significant factor in cart abandonment. Research shows that customers are more likely to stay with a retailer that offers free or discounted shipping compared to a store where they have to pay extra. Displaying free shipping thresholds on product pages can encourage customers to add more items to their cart to qualify.
Use Loyalty Programs and Personalized Discounts
Customers are more likely to stay loyal to a store that rewards them for their purchases. By implementing a loyalty program, you can offer incentives such as points, discounts, or exclusive offers for repeat customers. For example, a message like “Earn 10 points for every $1 spent” on the product page can entice customers to complete their purchase to earn rewards.
Personalized discounts based on a customer’s previous shopping behavior can also help prevent abandonment. Sending personalized emails or WhatsApp messages offering a discount on items they viewed or added to their cart can increase the likelihood of conversion.
Showcase Product Value Beyond Price
Sometimes, it’s not just about the price. Customers often look for value in other areas, such as product quality, brand reputation, or unique features. Make sure your product pages highlight the value your product offers—whether it’s superior materials, better customer service, or longer warranties.
Including customer reviews, product comparisons, and testimonials can reassure customers that your product is worth the price, even if it’s slightly higher than competitors.
What should be displayed on the product/checkout page?
Highlight competitive pricing: Include price-matching guarantees or statements that reinforce the idea that your store offers the best price available.
Create urgency: Display time-sensitive discounts or promotions that encourage customers to complete their purchase before leaving.
Offer shipping incentives: If you offer free shipping, clearly display the threshold to qualify for it (e.g., “Free shipping on orders over $50”).
How can you communicate this to customers via WhatsApp?
If a customer abandons their cart due to price comparison, follow up with a personalized WhatsApp message offering a discount or reminder of your price-matching policy. For example:
“Hi [Customer], we noticed you left some items in your cart. We’re offering 10% off if you complete your purchase today! Plus, we guarantee the best price. Click here to finish your order: [link].”
Additionally, consider sending abandoned cart reminders with personalized discount codes that are valid for a limited time to create urgency and encourage return.
Price comparison is a natural part of the shopping process, but by offering competitive pricing, time-sensitive discounts, and personalized incentives, online retailers can reduce cart abandonment and retain customers. By displaying price-matching guarantees, free shipping offers, and showcasing product value beyond price, retailers can give customers the confidence to complete their purchase without seeking out competitors. Using personalized communication through WhatsApp to remind customers of these offers can further enhance conversions and reduce cart abandonment.
What should be displayed on the product/checkout page?
Highlight competitive pricing: Include price-matching guarantees or statements that reinforce the idea that your store offers the best price available.
Create urgency: Display time-sensitive discounts or promotions that encourage customers to complete their purchase before leaving.
Offer shipping incentives: If you offer free shipping, clearly display the threshold to qualify for it (e.g., “Free shipping on orders over $50”).
How can you communicate this to customers via WhatsApp?
If a customer abandons their cart due to price comparison, follow up with a personalized WhatsApp message offering a discount or reminder of your price-matching policy. For example:
“Hi [Customer], we noticed you left some items in your cart. We’re offering 10% off if you complete your purchase today! Plus, we guarantee the best price. Click here to finish your order: [link].”
Additionally, consider sending abandoned cart reminders with personalized discount codes that are valid for a limited time to create urgency and encourage return.
