The average cart abandonment rate of the eCommerce business is 69.57%.
Shopping cart abandonment is a problem often encountered by online sellers, and it occurs for more than one reason.
Whatever the reason, abandoning the shopping cart is a waste of potential income. Based on a 69.57% abandonment rate, 70 out of 100 online sellers have lost many customers. E-commerce brands Lose $18 billion in sales revenue each year because of cart abandonment.
How to Reduce Cart Abandonment Rate
This article will explain why shoppers abandon shopping carts so you can take the proper measures to improve the situation.
In addition, this article will share the best methods to bring back the getaway shoppers.
Why Do Shoppers Abandon the Purchase?
To answer this question, we should trade shoes with the shoppers. We need to think from the shopper's perspective.
When we have items in our shopping cart, why do we leave a grocery store, restaurant, retail store, or shopping store? What prevents you from paying for the items?
The reasons may vary, but some of them are caused by our eCommerce site layout or checkout process. That is where we can reduce the cart abandonment rate.
Here are the 10 reasons why shopping cart abandonment occurs
● Unexpected interruptions, such as answering a call or being busy with other things, these interruptions may cause the potential customer to leave the checkout.
● The potential customer adds different items into the shopping cart for comparing price. This type of shopper may not intend to buy from you.
● Customers may find that they don't have enough money at checkout.
● When shoppers realize that the product is not a must-have item, they may stop paying.
● Waiting too long for checkout will cause shoppers to leave the store
● Sellers fail to provide the potential customers' preferred payment method.
● The website is not secure. It may lead the shoppers to cancel the payment.
● The online store checkout process is not smooth, such as an error in payment or unexpected shipping fees.
● A complicated checkout process may cause shoppers to leave the store.
● Customers find out that they can't use the coupons. It may cause some of them to cancel the payment.
There are many reasons why online shoppers abandon shopping carts. Confusing information is the main issue whether the problems occur due to customers' behavior or the store design itself.
11 Tips For Reducing Cart Abandonment
Customers like a fast and straightforward shopping experience. They want to enjoy the shopping without hindrance.
Therefore, it is no wonder that 18% of people cancel the payment because the checkout process is too complicated.
The key to reducing the cart abandonment rate is to make things simple and understand why customers abandon shopping carts. That means we need to reduce the number of steps for customers to complete the transaction. Besides, there is no way to avoid shopping cart abandonment.
There are 11 tips for improving the transaction success rate.
● Optimize the checkout process, content, and store design to allow shoppers to make the purchase fluently, thereby optimizing the store's conversion rate.
● Make sure to provide a seamless and enjoyable user experience for your online store.
● Make the store load faster, especially during product browsing and checkout.
● Reduce the checkout form fields. Everyone hates filling in lengthy forms.
● Allow non-registered shoppers to buy from your store because many people are tired of the registration process.
● Don't add too many buttons on the checkout page. It will distract customers. Keep the checkout page simple. It helps the customers to focus on completing a purchase.
● Add as many payment methods as possible, especially the most commonly used payment methods by shoppers.
● Add a payment security badge. In addition, displaying product reviews, ratings, certifications, and approvals on product pages can help us gain shoppers' trust.
● When using the cost calculator, we must avoid unexpected costs appearing to our customers. It is recommended to set free shipping for all products.
● Provide discounts and other benefits. For example, set a pop-up window to attract shoppers to stay when the shoppers exit or decide to go somewhere.
● Your store shopping experience, and checkout settings must be designed based on the principle of serving customers better.
More factors can make the potential customers stop paying for what they add. Still, the tips above can cover most of the reasons for cart abandonment.
Unfortunately, improving the eCommerce conversion rate by reducing the cart abandonment rate to zero is impossible. We only can take some measures to reduce the shopping cart abandonment rate.
Is there a way to bring back the shoppers who have left the site? Here are 3 practical ways to bring back getaway shoppers.
3 Tactics to Reduce Online Shopping Cart Abandonment
Although email marketing is one of the most effective methods, it requires marketers to spend a lot of time designing, writing emails, perfecting the sales funnel, and completing all the necessary work for email marketing.
In addition, although there are many shopping cart abandonment tools, we still need a lot of preparation to make the email work.
Push notification is one of the effective ways to bring back customers. Still, if you send too many messages to them, it will weaken the effect of the push.
Suppose the push notification messages are sent too frequently. In that case, the customers will ignore them and then get tired or annoyed with the notifications. They will turn off the push notification.
If we look at our phone, most of the information is no longer text messages, and receiving text messages can sometimes be refreshing. In addition, we usually associate important messages with text messages- an indispensable communication channel, such as bills, public government announcements, and some content that we must read for payment security.
Interact with getaway customers via text messages. Text messages will be easier to read than email and will not be considered harassment like push notifications.
Are There Any Methods to Improve the Overall Transaction Success Rate?
There are many helpful tips for increasing the eCommerce conversion rate. Reducing the cart abandonment rate is one of the ways.
For example, we can add social proof on product descriptions to promote the products. We can also help people solve problems on social media to gain their trust. As long as we are helpful to our potential customers, they will come to our eCommerce store and buy from us.
Besides, we can improve our copywriting skills to deliver the right messages to our potential customers. We should also promote our products on channels where our target audience is highly active.
The main reason shoppers give up purchases is inconvenience and confusion. If the checkout process is complicated and troublesome, whether shoppers or stores cause it, these issues will significantly increase the probability of abandoning purchases.