Shopping cart abandonment is a frustrating reality that virtually all eommerce companies face in their online checkout lines. On average, 75.6% of all online retail purchases are abandoned before customers click “complete.” Keep reading for more information on shopping cart abandonment, or jump to our infographic and discover 9 ways to stop cart abandonment in its tracks.
By definition, cart abandonment is when a customer gets all the way to the shopping cart checkout in your online store, but never fulfills the purchase. This loss of sale is a harder pill to swallow than say, when an online shopper bookmarks a few purchases but never comes back, because the first customer actually intended to buy your product only to change their mind right before the sale went through.
There are many reasons shoppers abandon their shopping carts, and some of them are uncontrollable. But there are other factors that play a big role in the psychology behind shopping cart abandonment that you can control.
Here are some steps you can take before, during, and after the loss of sale to reduce shopping cart abandonment and even get your customer to return back to their shopping cart checkout aisle to complete a purchase:
1. Improve your customer journey: Your ecommerce site should pay special attention to your customer journey to make sure that from browsing to checkout, everything is as streamlined, simple, and speedy as it can possibly be. Having an organized and user-friendly webpage, especially during checkout, lessens stress and anxiety as your customers shop. Also, reducing your page load times will help keep conversions high.
2. Be transparent about costs: Sixty percent of shoppers abandon their carts after extra costs such as taxes and shipping fees are factored in. Consider this when deciding if and when you’ll offer free shipping to your shoppers. You’ll also want to be as transparent as possible about taxes and fees. A good way to avoid annoyance and irritation is to state all costs from the outset. You can also try bundling extra shipping costs into the product price, that way you can offer “free shipping” to customers at a price you can afford.
3. Accept mobile wallets: Increase mobile conversions by allowing customers to utilize a one-click checkout on your site. Accepting multiple payment options such as Apple Pay and Google Pay make one-click checkouts possible, because the customers preferred shipping, billing, and payment info is already securely stored. Additionally, allowing users to checkout as guests rather than having to register for an account will improve your conversation rates by reducing form-fields and simplifying the process.
4. Remind abandoned cart shoppers what they lost: After you’ve lost the sale, you need to act fast — you can get the customer to come back with a good marketing strategy in place. As a customer abandons checkout, have an exit-intent pop up appear, asking them if they are sure they want to leave. If your potential customer still cancels the sale, send them an email reminder about your product, or place the product as an ad on their social media pages. You’ll want to strike 3 to 12 hours after the lost sale for best results.
The reality is that you’ll likely never achieve a 100% conversion rate in your checkout lines, but there are plenty of steps you can take to minimize shopping cart abandonment in your online store. Check out this visual with 9 tips and tricks and learn how successful ecommerce companies like Amazon are battling shopping cart abandonment on their websites.