If you’re an E-commerce retailer, you must find a way to increase sales and boost your revenue.
Is it that easy to do?
You should have a mentality that differs you from your competitors.
It is essential to catch a customer’s attention in order to improve your progress on E-commerce world.
To accomplish the objective, E-commerce retailers have been using many techniques and one of these techniques is increasing the basket size.
So, what is the average basket size?
How can you boost it?
First, let’s start by answering this question.
Average basket size is simply defined as all the products that one customer decides to purchase in a single transaction.
Average basket size is one of the most crucial KPI for E-commerce businesses to enhance your revenue and boost your sales.
It is important to motivate your customers to buy more products in one checkout, so you can reach your goal and increase the average basket size.
Average basket size can be calculated by this simple formula:
total units sold / number of invoices
If you guys get the point, let’s show 5 useful methods to increase basket size:
- Smart Recommendation
- Free Shipping
- Mobile Optimization
Customers don’t want to spend a lot of time on browsing different products in your store. They just focus on purchasing what they actually need.
At this point, offering smart recommendations allow customers to make the checkout process easier.
By recommending related products based on their past behaviors, purchase and browsing history…
you’ll encourage them to buy more products and make their shopping process easier.
When we think about the smart recommendation, first things that should come up to mind can be explained like these:
- Homepage Recommendation
- Category page Recommendation
- Product page recommendation
- Upselling and Cross-selling
Based on customer’s purchasing history, shopping trends and campaigns that can attract customers, you can offer recommendations to your customers,
like “Selected for You” or “Recommended for You”.
By offering these recommendations, you build more personalized homepages.
It will be easier for the customer to see relevant products for their taste and they will purchase more items on your website.
So, you’ll get higher average basket size and higher revenue.
Category Page Recommendation
Category pages are frequented places in E-commerce websites and attract customers to add more products to their shopping cart.
Like in homepage recommendation, you should track customer’s purchasing and browsing history.
Then, you can offer recommendations like “you recently viewed”, “trending in category” and influence your customers to add more products to their basket.
Product Page Recommendation
Products pages are the most essential parts of your website and they have to be attractive.
From product title to images, price to CTA buttons, they have to attract customers.
If these components are not enough to catch the attention, you should offer recommendations like “You might also like” or “Customers who bought this item also bought” and…
draw customer’s attention in order to add your products to the basket and fill it.
Upselling and Cross-selling
Upselling and cross-selling are the techniques that allow you to sell more products to the same customer with the same choice of purchase.
Cross-selling is a technique that recommending relevant and complementary products to lead your customers to add more items to their basket.
Upselling is also a sales technique that convincing the customer to purchase upgrades which means the expensive version of the same item.
By using these techniques, you’ll increase basket size and boost your revenue.
Product bundling is very effective to sell related products together with a lower price than if the products were purchased one by one.
By making a package deal, you can lower your selling costs and boost your perceived transaction value.
When you make product bundling, be transparent about products’ pricing individually, so customers can compare the separate cost and bundled cost.
In order to increase basket size, you should free shipping under the threshold condition and this threshold should be a little bit more from your average order value.
Offering free shipping is essential because…
44% of the customers abandon their shopping cart due to unexpected shipping costs.
So, if you want to increase your average basket size, free shipping offers with a threshold is a perfect way.
According to Internet Retailer’s research, mobile shoppers convert 160% more on websites that optimized for smartphones.
To give another important statistics, 50.3% of the E-commerce traffic comes from mobile.
Also, Inmar’s 2016 Shopping Behavior Study shows that shoppers are interested more on integrated digital solutions.
Mobile commerce is growing fast and optimizing your website for mobile is an inevitable action.
Most of the coupon users are smartphone users.
So, let your customers enter your website from their smartphones, take advantage of campaigns, add your products to their baskets and make the purchasing easily.
According to According to Econsultancy and Monetate survey, 94% of businesses think that personalization is one of the most essential part of their success.
Also, 59% of the E-commerce customers think that online stores that provide personalization make the shopping process easier and more attractive.
As I mentioned above, personalized recommendations are very effective to attract customers and drive them to buy your products.
Moreover, personalized recommendations, based on the past transaction and shopper’s behavior, encourage shoppers to add more items to their basket.