IKEA uses this tactic to prevent dead stock and increase customer LTV

IKEA uses this tactic to prevent dead stock and increase customer LTV
Igor Dovgan

Igor Dovgan

May 9 2023

14
3.2k

Customers can create personal collections of products to buy in the future on IKEA's wishlist, which increases customer LTV, drives more traffic and helps prevent deadstocks.

wishlist allows customers to create personalized collections of products they want to buy and save them for future reference, indicating interest in a product without an immediate intent to purchase. An example we can look at is IKEA:

IKEA's wishlist interface
IKEA's wishlist interface

IKEA's wishlist feature allows shoppers to save items that they intend to buy (but not yet) to their wishlist, this can help in increasing customer LTV. Next, the wishlist is also easily shareable. When shoppers click on 'Share these items' to share their wishlist to friends and family, it drives more traffic to the site. In addition, a wishlist allows IKEA to gain a better insight on their customer's demand which can then help prevent deadstocks.

Igor Dovgan

Author

Igor Dovgan

Igor Dovgan a digital marketeer, helps research and writes about tactics  that helps online stores implement tactics to reduce Customer Acquisition Costs.