Turbo Remarketing by E-Commerce Start-ups: Converting Abandoned Carts into Sales
Purpose: “Turbo Remarketing by E-commerce Start-ups: Converting Abandoned Carts into Sales” aims to analyze effective remarketing strategies for e-commerce startups to recapture lost sales from customers abandoning their shopping carts. The research targets new or young businesses in the online retail space, focusing on winning back customers who add items but don't complete the purchase. Design/Methodology/Approach: The study gathered data from 398 individuals in South India through online questionnaires targeting those who encountered cart abandonment on new e-commerce sites. Using convenience and snowball sampling methods, the final dataset included 386 responses after excluding outliers. This data collection, from January to April 2024, ensured the quality and validity of the research findings. Findings: The study reveals that email, display, social media, search engine, and video remarketing strategies significantly impact brand attachment, accounting for 86.2% of variance. Brand attachment also positively impacts cart abandonment recovery, accounting for 38.4%. These strategies, including targeted messages and advertisements, are crucial for recovering abandoned products, enhancing sales performance, and reinforcing strategic remarketing efforts in the digital marketplace. Practical Implications: The study highlights the significance of online strategies like email, display ads, and social media in enhancing brand attachment and preventing cart abandonment in e-commerce, highlighting factors like high shipping costs, checkout processes, and technical glitches. Originality/Value: "Turbo" remarketing techniques for startups, focusing on new technologies, personalization methods, and campaign triggers. It will also explore startup-specific strategies, analyzing real-world data to identify trends and correlations between remarketing tactics and abandoned cart recovery. The study will also explore the importance of brand attachment and common abandonment reasons, such as high shipping costs and unclear return policies.