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Published on 07/12/2022
5 tips to boost your average basket
In e-commerce, increasing the average basket of your existing customers is much easier than attracting new prospects. This option is the best way to boost your company’s bottom line. Here are our 5 tips to boost the average basket of your customers and therefore your turnover!
1 - Cross-selling
How can you get your customers to spend more? In order to boost the average basket, you can choose a cross-selling approach. This is one of the most powerful techniques: you get your customer to buy more items than expected.
How do you do this? It’s very simple, simply suggest complementary items - for example a laptop bag, a mat and a mouse, to a customer who has just bought a computer.
2 - Bundling
This marketing strategy offers flat-rate discounts to customers who buy several items. Bundling builds customer loyalty, and your customers save money by reducing the unit cost of each item. On your side, the basket growth leads to a net increase of your turnover. How do you set up this bundling? For example, if your customer buys 2 T-shirts, you offer the 3rd.
3 - Countdown sales
How can you create an “emergency feeling” to get your customers to buy more? By launching sales for a set period of time! Your customers will then have to make up their minds quickly, so as not to miss out on a good deal.
For example, around Christmas time, let your customers know how many hours they have left to place an order. If they are quick, they get a discounted price and receive their gifts on time.
4 - Free delivery on orders over a certain amount
Many customers refuse to pay for delivery. Use this opportunity to set a minimum order amount to qualify for free delivery. This trick will force them to buy more! Most of your customers would rather buy one more item than pay for delivery. Good to know: it will be even easier for your customers to get free delivery if you offer them payment in installments. The many advantages of this payment method are detailed in the following section.
5 - BNPL* payment methods to boost your average basket
Which payment method boosts your average shopping basket the most? The “Buy Now Pay Later” option for sure! FLOA meets the needs of consumers by allowing them to “buy now, pay later”. We can see that all demographic categories choose to pay later. More than 1 in 3 French people use this payment solution. According to a recent study by the Kantar** Institute for FLOA, 6 out of 10 European citizens are ready to switch to a different retailer to benefit from payment solutions.
This is quite understandable, as the end customer gets many benefits out of it :
● They benefit from special offers,
● They can treat themselves and their loved ones,
● They can handle unexpected events,
● They can avoid quickly reaching credit card caps, particularly on high-tech products or travel,
● They can balance their finances.
As an e-retailer or merchant, BNPL* has a couple of advantages for you :
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Increase customer loyalty with up to a X2(1)average basket with a successful customer experience;
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Increase your sales, as consumers will be more likely to fill their basket now and pay later.
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So get FLOA up and running for your customers straight away!
These 5 tips are key to boosting your average basket. If the first 4 rely on sales and marketing techniques, the 5th can be implemented in a couple of days. Contact our FLOA sales team for a free demo!
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Want to try out the FLOA solution? Simulate a Buy Now Pay Later purchase on the interface of a real e-commerce site!
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