It’s Cyber Monday. A shopper arrives on your site. They want to buy a hot kitchenware item. Maybe they got to your site from an online product search or a clever ad your creative team built. They check out the product, put it into their shopping cart, and then... poof, they’re gone.
What happened? The shopper clicked on a browser extension, saw a “deal” from a competing site, and abandoned you. Of course, that deal might not actually be a good one. Shipping might not be free. The color they want might not be in stock. Recapturing them will be a challenge — if they can even find their way back to your site. Your customer acquisition costs, bounce rates and shopping cart abandonments go up. Your conversion rates go down. It’s a story of lost holiday revenue.
A Rapidly Growing Challenge for Online Retail
Browser extensions range from large coupon provider extensions like Amazon.com and Honey to small, fly-by-night extensions that can completely paper over your site with unauthorized pop-up ads of malicious origin. Coupon extensions are now a multibillion dollar, and growing, global business, as evidenced by PayPal’s $4 billion acquisition of Honey, currently the largest coupon extension provider with 18 million users.
According to Aberdeen Research Group, coupon extensions can reduce e-commerce conversion rates by between 1.88 percent and 7.20 percent. Retailers may be missing out on between $100 billion and $200 billion of transactions based on global e-tail transaction estimates of $4.1 trillion.
Some of the more fly-by-night operations can transform your beautiful site into a blizzard of haphazard online ads, which are populated by content totally unrelated to the items on your site, like porn, cryptocurrency or financial scams. The content is pumped in from ad exchanges that sell cheap — and, in this case, unauthorized — real estate. Shoppers typically don’t understand what they were getting when they added the extension to their browser, and believe these ads come from you, the site owner, a belief that can really damage your brand reputation.
Cyber Monday 2020: Biggest Challenge Yet
The most active online shoppers are the ones most likely to use coupon extensions to compare offers, save money, and be notified of price drops. This will be a big challenge this holiday season when they head online to shop during what's shaping up to be the busiest online shopping day ever.
How to Manage Coupon Extensions: Detect and Block Extensions on the Client-Side
By blocking bad behaviors rather than extensions themselves, your web application can focus on delivering the superior customer experience that your digital and marketing teams have crafted. The most effective way to boost your e-commerce KPIs and elevate the shopping experience for both your loyal and hard-to-acquire new customers is by making sure they can visit your site, find what they want and need, and shop freely — without distractions and interruptions. With the holidays upon us, e-commerce leaders should actively look for solutions that manage coupon extensions so they can continue to focus on driving conversions and growing their online revenue.