If you’re an online business owner, you know that the key to success is boosting your conversion rate. A wishlist functionality can be a useful tool for converting customers and increasing sales, but what exactly is a wishlist? And how much can it increase your conversion rate?  Let’s break down the basics of wishlist functionality and discuss the benefits it can offer your eCommerce stack.

What is a Wishlist?

A wishlist is essentially an online list of items that shoppers are interested in buying. They can add products from your store to their personal wishlists, which they can access at any time to review or purchase. This allows shoppers to save items until they’re ready to buy and share them with friends and family for gifts. Adding this feature to your store provides convenience for customers and encourages them to purchase more items from you.

Cross-Sell & Upsell

Wishlists are also great tools for cross-selling and upselling products. When customers add items to their lists, they will often see related items that could pair nicely with those items or replace them if they’re out of stock. By suggesting related products, you have the chance to introduce new items to customers who may not have thought about them previously—thus increasing the likelihood of a sale.  Additionally, when customers receive notifications that their desired item is back in stock, they will often make additional purchases while they’re shopping on your site.

Notify Me When In Stock

When a customer adds an item to their wishlist, most stores give them the option to be notified when their desired product comes back in stock. This means that if an item sells out quickly or isn’t available yet due to preorder functions (like upcoming movie releases), customers will still be informed when it becomes available again—and then likely purchase it right away! This ensures that no potential sale goes unmade because of a lack of availability or slow restocking times.

Conclusion

Utilizing a wishlist feature on your eCommerce website has numerous advantages for both you and your customers; it increases convenience by allowing customers easy access to their favorite products so they can buy them whenever they want, increases the visibility of related products for cross-selling/upselling opportunities, and makes sure no potential sale goes unmade due to lack of availability or slow restocking times through notification emails when an item returns in stock. Try adding a wishlist feature today and watch as your conversion rates soar!