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  • Plugging a £12 billion Coronavirus Revenue Gap: Optimising Sales through harmonisation of on and offline media

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    According to econsultancy, the UK retail industry could see a loss of approximately £12bn in 2020, due to the coronavirus pandemic. Prior to COVID-19, a Go Inspire Group study showed that retailers already missed out on approximately £18bn in revenue every year, through online basket abandonment. 

    The research breaks down the opportunity for possible revenue across 13 key retail verticals and identified:

    • how bridging the offline and online worlds presents a huge opportunity for recouping ‘lost’ revenue
    • that combining digitally printed direct mail that is personalised and reflects the online experience, with email abandoned basket reactivation campaigns, more than doubled conversions +(113%).
    • the best time to send physical, mail reminders was within a week of the customer abandoning their basket.
    • how the technology to combine many, small, daily volumes into one, high-volume mailing is allowing retailers to quickly send a handful of letters each day, so they reach the customer promptly, but at an affordable cost. 

    You can download the research in full here or check out Go Inspire’s blog for more tips and advice on converting more abandoned baskets. 

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