How Does the Wishlist Feature Help you Retain your Conversion Rate?

wishlist feature

It’s not easy to run an eCommerce website. You have to implement best practices to entice your visitors. Do you ever think about why people shop online? The definite answer is it is convenient and easy for them to shop online while sitting in their homes or offices. People order and get the product at their doorstep. 

Now, an eCommerce store aims to maximize its store performance. They always try to make their eCommerce website convenient and appealing for their customers. For this purpose, they use every trick to get their customers so they can maximize their store revenue. IKONIC the eCommerce specialist in the USA recommends using the wishlist feature in the eCommerce stores. Because it’s a feature that enhances the sales numbers on your eCommerce store. 

Now, let’s explore more about it. 

Wishlist: An eCommerce website feature 

Sometimes visitors come to your website and see the products they are interested in but are not ready to buy just yet. Why not let them make a list of their desired products so they can come later and purchase them? Here, you need a wishlist feature. 

A wishlist feature allows customers to create and save a personalized collection of their desired products for future reference. It shows shoppers’ interest in products without any immediate intent to purchase them. They create a list of desired products with the hope of buying them in the future or get them as a gift. 

Now the question is, what does a wishlist feature do for store owners? 

  • It lowers the cart abandonment rate because customers won’t add products to their cart until they’re ready to buy them. 
  • It improves customers’ experience on your eCommerce website. You are making online shopping easy for them. 

The eCommerce store owners always try their best to give their customers a happy shopping experience. For this purpose, they invented many features. You might be thinking about another feature that appears the same to you, like the wishlist feature. 

Yes, that is the ‘save for later’ feature. If you think that these two are the same, wait for a second!

Today, you will know the difference between the ‘wishlist’ and ‘save for later’ via this blog. 

Difference between ‘Wishlist’ and ‘save for later’

The eCommerce website developers bring two significant differences between ‘wishlist’ and ‘save for later.’ 

  • You need to create an account for signing in for the wishlist feature so you can add items to the list. But, no account is needed for ‘save for later.’ 
  • A user adds products to the wishlist when he can’t purchase them at that moment. Either they can complete their order later or wait for the moment when discounts are given. But, in ‘save for later,’ either you can add products for later purchasing or remove them when not required. You won’t get discounts. So, the primary difference lies here in functionality.

Wishlist Impact on Conversion Rate 

We do not expect to see an eCommerce website without the wishlist feature in this age. It has become a customary law of the eCommerce world. The interesting point is your conversions can be enhanced along with customer experience just by adding a wishlist feature. 

Here are some pointers for you to know how the wishlist feature helps you retain your conversion rate. 

Wishlist for understanding customer buying behavior 

Wishlists are valuable for customers because they help you understand customer buying behavior. When a customer uses the wishlist feature, it tells the eCommerce store owner about his preferences, emotions, and attitudes. By understanding customer buying behavior, you can engage more with your store to build trust. You can increase customer engagement which will boost your conversion rate. 

Wishlists attract a lot of visitors 

You can increase your eCommerce store traffic by sharing your wish lists with others. The surefire way helps to promote your store products and raise branding awareness. 

Do you know what the best thing is? That’s free. 

When more visitors are visiting your site, there is more conversion rate optimization. The feature ultimately becomes a revenue optimization tactic when these visitors become your customers. It is a general rule of thumb that more visitors mean more customers. 

Wishlist as reminder 

You create a wishlist to buy the things you can’t buy right now. Later, these wishlists act as reminders for you. How does it work? Let’s examine it. 

After creating a wishlist, a notification will pop up asking you to save your wishlist if you like. You will be asked to do this simply by using your email address. Trust me, it works better for generating leads than any newsletter. Now visitors know that it is an easier way to shop. They know they can come back to their wishlist after browsing around. The feature ultimately turns those visitors into customers that improve the conversion rate. 

Wishlists as social proof 

An eCommerce store can use a wishlist as social proof. It works when you show your customers a display of how many people added that piece to their wishlist. This social proof attracts customers’ attention and increases buyers’ trust. 

This is the way these wishlists get more reviews, and such eCommerce stores sell better. 

Best Wishlist Plugins In WooCommerce 

The combination of WordPress and WooCommerce gives your eCommerce store unlimited flexibility. If you use WooCommerce for your eCommerce store development, you can access an enormous plugin library. You rely on this plugin library for adding new features to your eCommerce store. One of such features is the wishlist feature. The wishlist comes with valuable features and is highly considered by eCommerce store owners. 

Take an in-depth look at some of the best wishlist plugins for WooCommerce. 

YITH Wishlist Plugin

The plugin is the one of the most popular wishlist plugins in the WordPress world. There is a reason why WooCommerce owners rely on this wishlist plugin for their WordPress plugin needs. YITH Wishlist plugin has over 900,00 active installs. 

By getting this plugin, you can: 

  • Create a custom wishlist
  • Share the wishlist with family or friends. 
  • Spread it across the various social media networks
  • Allows you to add a wishlist shortcode 

TI Wishlist Plugin 

With over 100,00 active installed, this wishlist plugin is good for increasing the number of site visitors. Have a look at its features:

  • You can add a wishlist button 
  • You can remove products from the wishlist automatically 
  • Allows custom wishlist icon 
  • Allow sharing wishlists with various social media networks

WPC Smart Wishlist Plugin

The wishlist plugin gives you all the basics you want for your business. With over 30,000 active installed, this wishlist WooCommerce plugin can be set with a text, link button, text, etc. With its design, you can, 

  • Add extra classes for action link/button 
  • Get a custom wishlist design 
  • Add text for the wishlist button 
  • Choose different categories in the wishlist button 

Conclusion 

The wishlist feature is a novelty for many eCommerce marketers. They think it’s a better option for window shopping but not for marketing. If you are also thinking this way, you will hurt your sales badly. 

Think about it seriously! Talk about this feature with your team and brainstorm ideas for creating a better customer base. You can do much more with it, e.g., boost user experience, lower cart abandonment rate, and reap marketing research advantages. 

Your products can perform so well, too – you cannot know until you try wish lists. Let them help you sell more.

Further reading

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