One of the most frustrating problems that most eCommerce retailers are facing these days is shopping cart abandonment. When shoppers add an item or items to a website’s shopping cart and leave before completing the transaction; this process is shopping cart abandonment.
According to statistics by Direct Marketing Association, 65% of customers do not complete their online purchase and left their cart as it is. However, traffic on online shopping websites is increasing, yet the data shows that customers are far less inclined to make a purchase. The abandonment rate is increasing day after day and did not improve since 2009.
Many factors are responsible for this problem, such as due to high-value goods as visitors mostly fill up their basket to make a wishlist. So, how shopping carts abandonment rate can be improved?
Here, we are going to discuss seven ways to reduce shopping cart abandonment and their solutions. But, before that let’s have a look at the statistics of shopping cart abandonment.
Shopping Cart Abandonment Statistics
According to a retail marketing firm Listrak which tracks shopping cart abandonment, the average rate at which customers abandons their shopping cart before making a purchase is 81% at a current time. During the first six months of 2018, the average abandonment rate was 75%.
This data clearly shows that most eCommerce websites lose at least three-quarters of carts before users cross the line and convert. It means that four out of five customers leave their cart before actually buying anything. According to some other eCommerce marketers:
- Travelling sector has one of the highest abandonment rates of any eCommerce vertical, which is almost 85%.
- Completion rates over desktop and tablets are around 135, whereas mobile completion rates stand at just 8.5% (Report)
- According to ibid, the average shopping cart abandonment rates for checkout pages are as high as 87%, and it rises to almost 90% on weekends.
Now, we know how bad things are for eCommerce marketers; let’s have a look at the main reasons behind it, and how to reduce shopping cart abandonment.
How to Reduce Shopping Cart Abandonment
Businesses can make some critical, tactical improvements to their eCommerce online store that can provide a decent boost in their conversion rates. Check out reduce shopping cart abandonment guide, and choose the areas where you can make improvements to improve your conversion rates.
1. High Price and Unexpected Charges
It is a proven fact that shoppers shop online because they believe that they will get a better deal online. Moreover, when they don’t find a perfect deal on your website or if the product price is too high, they will abandon their shopping cart.
Apart from high price, another factor that links with pricing is unexpected charges. When shoppers find an item online, they consider its price first and then decide to purchase it. But, when they reach the checkout page, the overall amount is more than expected due to some extra charges. These charges include – shipping costs, taxes, delivery charges, etc. Additionally, this charge makes the total cost of the product much more than a shopper is expecting.
Well, you cannot cut down your profit on the product price and waive the extra charges. But, this doesn’t mean you have to sacrifice your conversion rates. To convince your customers to make their purchase, you can offer them discount coupons. Also, set realistic expectations from the start so that customers don’t face unexpected charges during checkout.
For example, if you want customers to make a minimum purchase for free shipping, make sure you display that information clearly and prominently on your product pages. By clearly showing the shipping and delivery charges, customers won’t get an unpleasant surprise when they decide to check out.
2. Having to Create a New Account
Every shopper believes that online purchasing is quick and convenient. That’s why they don’t want to go through tons of steps to buy a few things. Having to register for a new account to complete their purchase can frustrate potential customers.
According to a recent study, 22% of shoppers do not complete their purchase when they are asked to create a new user account. Asking your customers to create an account is the second biggest reason behind shopping cart abandonment.
The only solution to solve this problem is that make it as easy as possible for the customers to complete their purchases. Especially, don’t force the first time buyers to register their account before completing their order. However, you can add a guest checkout option or a social media signup option for customers.
A guest checkout option will make it easier for shoppers to complete their purchase without creating an account. With social media signup option, customers can create a new account using their social media accounts. However, offering both these options will provide more convenience to the customers. Offering these options will help you reduce shopping cart abandonment and increase conversion rates.
3. Minimise the Checkout Flow
If the checkout process is time-consuming and complicated, it can be frustrating for the customers, and they might end up abandon your shopping cart. To analyse the flow for your checkout process, calculate the time it takes for a customer to complete the purchase.
Also, if there multiple steps from cart to checkout, most shoppers will end up leaving the process in between. According to stats, if you cannot complete a transaction page between 3-4 seconds, you’re fated.
Try to make the checkout process swift and fast on your website as well as the mobile app. To do so, make sure there are minimum clicks required from adding products to cart to making the final purchase. The checkout process shouldn’t involve multiple pages with separate billing cost, shipping and taxes to displaying return policy.
However, the checkout process also depends on the type of products you’re selling. For example, if you’re selling high-value goods, then multi-page checkout isn’t a big issue because it gives the customers some time to go through every step to build confidence and trust carefully.
If your checkout process is complicated, then we would suggest you conduct a proper A/B testing to achieve an ideal checkout process.
4. Customers Not Ready to Purchase
Some shopping cart abandonment is impossible to reduce and eliminate, and this is the main reason behind it. We all have to admit that sometimes users browse eCommerce stores in their free time to check new products, their pricing, quality, shipping, and special offers.
In reality, they don’t have any intention to buy your product. So, you cannot rule out the probability that your shoppers left their shopping cart because they were not there to buy the product. Some shoppers browse online stores to have a look at the new products and pass their free time.
Well, there is no such solution to reduce shopping cart abandonment, but you can make it better. The whole point of lowering cart abandonment is to recover lost sales. So, if you know your customers are evaluating certain products on price, you can implement a price match guarantee pop-up to ensure customers purchase from you.
Also, it’s always better to give exit points to your shoppers even if they were just there for a random stroll. For example, you can drop them an email regarding the products they were scrolling or added to cart, or you can provide some instant discount on those products. Offering instant discounts or special vouchers can make customers come back to your site and complete the purchase.
5. Concern About Payment Security
Payment security is one of the significant reasons behind shopping cart abandonment. You might have secure payment gateways that guarantee the safety of your customer payment information. But, if your customers are not aware of it, they will not provide their card details and often abandon their carts.
Also, having limited payment options can be a big reason behind shopping cart abandonment. For example, if you accept payment via net banking or credit/debit cards only, then chances are your business will result in higher shopping cart abandonment.
No customer wants to take the risk of their card details get compromised. So, how can you make your customer trust your site? The only solution to this problem is trust seals from trusted vendors, such as PayPal, Norton, SiteLock, McAfee, etc. A trusted seal on your website can increase the conversion rates between 25-30% among new customers, and 15-20% in successful orders.
Displaying trust seal next to the CTA button will not only relieve customer anxiety, but it will also build trust about your brand. Also, prefer using multiple payment options, such as credit/debit cards, EMI, Cash on delivery, payment wallet, etc. Offering these options will make your shopper more comfortable while making the purchasing decision.
6. Not Offering Coupon Codes
Some customers make a purchase only if they find a coupon or promotional offer on the product. If they don’t see an offer or promotional code on a specific product, they will look for the same product elsewhere. Also, even if your website is offering coupon codes, but users are unable to find them, they will leave their shopping cart as it is.
According to Statista, 8% of customers abandoned their shopping carts due to this reason. However, many customers try to find coupons or additional offers from third-party sites. So what can be done to solve this problem?
The best solution to make your customers happy and achieve an edge over your competitors is offering your shoppers promo codes and additional coupons. It motivates your users to shop from your website or app. Also, auto-apply coupons on the products as soon as they enter the cart so that customers don’t have to go through the hassle of finding and applying coupons.
You can provide special offers and deals for new customers on their sign-up; it will encourage them to make their purchase in the first attempt. Offering coupons and special discount provide a flawless shopping experience to the users making them your permanent shoppers.
7. Lack of Customer Support
Lack of customer support can result in higher shopping cart abandonment. You know that the main advantage of shopping offline is that shoppers can ask the shop owner or the sales representative right away in the store in case of an issue.
However, this is not the case when customers are shopping online because websites don’t have a salesman to explain the details of the products. In such cases, a shopper has to rely on the information available on the site. But, sometimes customers need additional information for their satisfaction before the crucial checkout.
Moreover, if your eCommerce store fails to explain that additional information, most shoppers will abandon their shopping cart.
With advanced technologies, providing online customer support has become more accessible than ever. You can introduce a forum where customers can instantly post their queries and get instant customer support for those queries. It would be much better if you could implement live chat on your website to help users with their inquiries in real time.
According to a recent survey by LivePerson, it has revealed that 93% of the online customers state that having live chat support on a website facilitates a relaxed shopping experience. With live chat support, you can engage the customer with your products and motivate them to purchase it. Also, prefer providing support over emails or messages.
Shopping cart abandonment is not a little that eCommerce stores can ignore. If you don’t take action to eliminate this problem, you might end up losing your business with a considerable loss. Mentioned above are seven ways to reduce shopping cart abandonment, test and find in which areas you lack, and then improve them.