Sometimes a high-intent shopper visits an eCommerce website and adds at least one or more products to the shopping cart, but then leaves without completing the purchase. These abandoned carts are considered to be cart abandonment by that individual user. This problem is not caused because of visibility (whether there are ads being served on social media) or offers run in advertisements issue. Instead, it requires careful analysis as to why exactly users leave their cart despite clearly liking what they see online.
Is shopping cart abandonment reduction important for retailers?
One of the most important elements to consider when it comes to a successful business these days is customer experience- regardless of whether you are an online or offline retailer. After seeing retailers like Sears failing at adapting to changing expectations, there have been several eCommerce companies fold in recent years. There’s something about brick-and-mortar stores that just can’t be replicated on the internet – physical experiences aren’t available everywhere despite many websites claiming they are. Cart abandonment reduction can somehow lessen the rejection rates among the buyers and help in completing the buying process.
Reasons behind cart abandonment
- Customers abandon their shopping carts due to extra charges, specifically shipping and taxes. They will only make a purchase if you include free shipping or give them other discounts to offset the burden. In a recent survey, 91% of consumers said they would be more likely to buy from you again and 67% indicated they’d add items in their cart just for free shipping. Sounds like an easy win, right? It’s not always so simple though – understanding what your customers are looking for can help bring success over time.
- Research by Moovweb, a mobile web ecommerce platform, shows that guests checking in and those who are logged in behave identically while shopping online: conversion rates were identical for both groups. The consumers who used guest checkout spent an average of 10% more than those using logins. Yet, giving customers the choice of using a guest checkout remains a valid option. A research study done by Moovweb revealed that people use guest checkouts 1.2x more often than when they’re required to create an account before shopping on their devices.
- Baymard found a long or complicated checkout process to be the third biggest reason for abandoning a shopping cart. An average of thirty percent of US online shoppers have abandoned an order as a result of this. Even slower load times can lead to customers abandoning their cart. It’s not surprising though – according to Baymard’s usability study, sites with as few as 12 form elements (8 if only including form fields) and up to 23 elements still had very high rates of abandonment due to the difficulty in finding information or completing tasks. Leading retailers are moving towards simpler checkout flows like Amazon which has reduced its number of steps from 22 down mostly into 8 before you’re asked for payment info and verification.
- Finalizing your order and paying quickly is the key to avoiding extra costs. It’s important to be aware of what you will owe, so that unexpected charges don’t lead you down a different path than intended.
Want to reduce your cart abandonment?
Here are 4 methods that are recommended to reduce cart abandonment:
- Follow up on abandoned cart sales with checkout recovery emails.
Few ways for undecided shoppers:
- Offer a discount
- Communicate urgency
- To do this send checkout recovery emails. It is essential to capture their email address via onsite displays such as pop ups or flyouts that are activated from the exit intent.
2. Online retailers could simplify their checkout process by using a progress indicator.
3. Incentivizing customers with discounts is another way to increase revenue per email.
4. The idea of offer guest checkout as an option is a great way to provide convenience for shoppers. One example of how this can be implemented would be by having them pre-register before making their purchase, so they don’t have to worry about creating an account on the spot and jumping through hoops after purchasing. Another potential solution is allowing people to login via Facebook, Google or another social media account instead of requiring them create a permanent account in the first place.
Summary – Asking for people to add products in a shopping cart is not the only way of enticing them to buy. In order to avoid cart abandonment, you also have other options which include giving discounts and notifications on delivery times through email or social media posts so that shoppers are always aware of when their item will be delivered, complete with handy tracking information. If they still abandon your website without taking any action even after getting this notification then the rate at which they do it might tell you what implications there may be or what issues must be addressed in order to fix the same. Nimbbl, a 1-Click Checkout provider reduces payment failures in ecommerce. It provides access to leading Buy Now Pay Later apps and simple pre-built integration solutions with multiple payment aggregators.