What is a wish list?
A wish list is a personalized collection of items that a customer wants to purchase in the future. In an e-commerce site, wishlists allow customers to save their desired products for future reference without an immediate purchase.
Why are wish lists important for your business?
Wishlists are now a popular and important part of any e-commerce business. It improves the customer experience while shopping at your site. Many customers browsing online stores do not have the intention of purchasing immediately but prefer to have some time for considerations. This is when a wish list can help to save their favorite items.
In fact, a wishlist creates a win-win situation for both customers and retailers. For shop owners, wishlists can provide important data about their customers. Some of the benefits are:
- Provide insights about the well-loved items and customers’ desires, which greatly save resources in researching customers’ needs. Based on the data, businesses can develop suitable marketing strategies, such as create a discount on popular products
- Encourage customers to complete their purchase by sending messages/notifications
- Enable customers to add the sold-out items to their lists, so that when the product is restocked, they can get notified
- Help business owners with inventory management, for example, to produce a larger quantity of products that are popular
- Serve as a way of gifting, as the wish list can be sent to family or friends before special days or holidays
What are some of the wish list’s features in e-commerce sites?
- Allow customers to create multiple wish lists and name them
- Include the ‘Share’ feature so that the wish lists can be sent to other people
- Build push notifications when items on the wish lists are out-of-stock, restocked, or on sales