The startup aims to eliminate abandoned carts

Looking for the perfect half-zip for a holiday date. You click on something you like and save it to your cart. But you’re sure there has to be something better somewhere – maybe a lower price, a shade of burgundy with a little more red. So you make a mental note to review the basket once you’ve done some more sleuthing.

Then life steps in, and you put your search for a sweater on the back burner. Do this enough times on enough websites and, if you’re like the millions of buyers who have enthusiastically plunged head first into digital commerce, you’ll be leaving carts on the internet full of items waiting. of payment.

For retailers looking to make a sale, this can be frustrating – think about all the potential conversions out there. And if you’re shopping online because you’re looking for an easier way to save time and money, tracking down every find you’ve gone into receivership can turn out to be anything but seamless at the end of the day.

Bobby Ghoshal, co-founder and CEO of Carrot, said current solutions to the problem aren’t working for anyone. Merchants bombard buyers with emails and ads to try and get them to come back and complete the transaction (which consumers have learned to ignore). And customers need to keep track of tabs and tabs in purchase history.

“It’s strange to me that shopping is still site-wide,” Ghoshal told Karen Webster in an interview with PYMNTS TV. “It should be web-wide. The Web is a big mall.

Carrot, which launched earlier this month, is a browser extension that allows users to save, organize, and share their open carts on various e-commerce websites. While Carrot’s idea came to Ghoshal in a time of shopping frustration, the expansion also has benefits for merchants – allowing them to increase sharing capabilities, potentially reduce cart abandonments and always keep the cash register just a click away.

“You can close these tabs and come back to them a week later,” Ghoshal said. “And all of those products that you’ve added to shopping carts on the web all exist in that feed. It’s an easier way to get those products back and an easier way to get back to those products.

Keep track

It’s a new twist in the world of browser extensions, which typically focus on directing shoppers to the best deals, without simplifying the checkout experience once they find them.

During the first installation, Carrot analyzes a user’s browser history to identify the retail sites they have visited and automatically retrieves any shopping carts they have left. After that, it continues to track the buyer on the internet and automatically detects when an item is added to a cart, prompting the user to add a note to further invest them in the shopping experience. Users can also save items through Carrot without adding them to a shopping cart.

“Carrot is about conservation; it’s about collecting, ”Ghoshal told Webster, noting that this is a“ completely different mindset ”from other retail browsing extensions that focus on coupons or cash back. .

Users can also build different collections of items for birthdays, weddings and other life events that they can share with their friends and family. Ghoshal said Carrot has even seen people create collections around items to buy when they get paid next time or during a certain season. This feature also opens the door for creators and influencers who could potentially monetize products they like and recommend to others.

“You can literally forget that Carrot exists, and it would still work on your behalf and help you collect these products,” he noted.

And as merchants grapple with Apple’s recent privacy changes and prepare for a cookie-free future – two steps that will make it harder to keep track of users on the internet – Carrot offers a simpler way for sites of electronic commerce to remain at the forefront of consumers. Wherever they go, Carrot stays at the top of the browser, reminding shoppers where they’ve been.

“We love the affiliate model,” Ghoshal said. “We also think it’s going to be huge in the future due to issues with first-party cookies, iOS 15, and increasing costs from Facebook. There are all kinds of issues right now in the ad space, and I think people will look to our model.

See also: Poshmark sales penalized by Apple privacy changes

More features to come

Ghoshal said Carrot is also testing a feature that allows Carrot to notify consumers when a price drops at multiple retailers, which it could one day roll out on a larger scale.

“It’s one of the superpowers of what we’ve built,” he said. “We have the product, we know you want it, it’s stored there, it’s stored in this list. We are now making sure that we can reliably get this product drop or price drop notification to you. This is quite a difficult problem to solve in any store on the web.

PYMNTS research found that 84% of consumers have searched online for discounts or sales in the past 12 months, and 11% do so multiple times a day.

Related news: 73 million American consumers already live in the connected economy

“We’re trying to find those magical moments where Carrot is almost invisible, and at the right time we lift our heads and say, ‘Hey, that thing you want is now available for a better price,’ Ghoshal said.

Carrot is also testing product availability notifications, although it hasn’t launched them yet, and plans to start sending out a weekend email to invite consumers to complete their purchases without having to open a tab. browser or check out Carrot.

“I hope that next year, the next holiday season, hundreds of thousands, if not millions, of people will buy in a very different way – in a much more thoughtful and transparent way,” Ghoshal said.



On: It’s almost time for the holiday shopping season, and nearly 90% of US consumers plan to do at least some of their purchases online, up 13% from 2020. The 2021 Holiday Shopping Outlook, PYMNTS surveyed over 3,600 consumers to learn more about what drives online sales this holiday season and the impact of product availability and personalized rewards on merchant preferences.

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