Analyzing the Impact of Wish-list Abandonment on Sales Conversion Rates in the E-commerce Fashion Industry of Colombo, Sri Lanka.

Abstract

"The present study searches into the unexplored domain of “Analyzing the Impact of Wish-list Abandonment on Sales Conversion Rates in the E-commerce Fashion Industry of Colombo, Sri Lanka.” With an emphasis on brands that do not maintain the wish-list feature, this research fills a crucial gap in the existing literature, as no prior research has been conducted on this topic. The study adopts a mixed-method research approach, combining 100 survey responses from consumers and insights gathered from interviews with 4 leading Fashion brand executives from Colombo, Sri Lanka. The research investigates the potential implications of wish-list abandonment on sales conversion rates in the dynamic E-commerce Fashion landscape of Colombo, Sri Lanka. It seeks to understand the factors influencing customers’ decision to abandon their wish-lists and explores how this phenomenon impacts E-commerce Fashion brands’ overall sales and customer engagement. The theoretical frameworks employed in this study encompass the Theory of Planned Behavior (TPB), which aids in comprehending customers’ intentions and behaviours related to wish-list usage, and the Technology Acceptance Model (TAM), which sheds light on customers’ perceptions of the wish-list feature and its significance in their shopping experience. Key findings from the survey responses and interviews reveal the challenges faced by Fashion brands due to wish-list abandonment, such as reduced sales conversion, decreased customer engagement, and missed opportunities for personalised marketing. Additionally, the study highlights the significance of personalised remarketing and timely promotions as effective strategies to address wish-list abandonment issues and enhance customer retention. In conclusion, this research brings to light the significant impact of wish-list abandonment on sales conversion rates in the E-commerce Fashion Industry of Colombo, Sri Lanka. The insights obtained from both consumers and brand executives provide valuable guidance for E-commerce Fashion brands to optimise their strategies, enhance customer experiences, and ultimately drive sales growth. The study’s novel approach and unique focus on brands without a wish-list feature offer a promising avenue for future research in the realm of E-commerce and Consumer Behaviour."