- Customers often abandon their shopping carts because of extra shipping costs that they were not aware of while browsing the item.
- Certain eCommerce sites require visitors to first create an account and then complete their checkout process. Many customers get irked by the absence of a guest checkout and abandon cart instead.
- Adding on to the previous point, customers also lose interest in completing a transaction if the checkout process is too lengthy or complex. For example, having to add separate billing and shipping addresses complicates the process unnecessarily and leads to an increased cart abandonment rate.
- Website performance too plays an important role in increasing cart abandonment rate. If the site speed is slow or it crashes often, the customer is more likely to leave the transaction incomplete.
- If your eCommerce site doesn’t have a secure payment gateway, your metrics will always have a higher rate of abandoned carts. No matter how common online retail becomes, customers will always rely on those businesses that offer trusted payment mechanisms.
If we had to summarize all the reasons for the increased cart abandonment rate, we would ask you to have a look at your checkout process from a customer’s perspective and list down the reasons for not going ahead with the transaction.
This simple exercise will help you pinpoint the exact reason for the increased number of abandoned carts in your business.
Meanwhile, you could always use the following strategies to reduce cart abandonment rate considerably.
5 Strategies to reduce shopping cart abandonment rate in a business
- Do not keep any cost hidden: When a customer knows about every charge involved in a transaction, they are less likely to change their mind at the last moment. So, ensure that you are upfront about every cost involved – including the shipping cost and taxes if any.
Pro tip: This becomes crucial in international eCommerce as every country has specific tax regulations. Digital commerce platforms like Magento/Adobe Commerce are great for a global retail business with features that enable multi-store management and tax regulation.
- Integrate multiple payment options: The rise in the digital economy has also led to the emergence of multiple payment mechanisms. As a result, a customer expects every possible payment option while making an online purchase. From cash on delivery to EMI options, try to include every possible payment option in your digital commerce solution,
Pro tip: Migrating to Salesforce Commerce Cloud ensures that your digital commerce solutions are well-integrated with all third-party payment options.
- Include Guest checkout option: We can’t stress enough about the need to simplify the checkout process and enable the guest checkout option. Your one step towards saving a prospective customer’s time can lead to a better conversion rate.
Pro tip: Instead of asking a visitor to create an account before they complete the transaction, why don’t you try asking them right after the transaction is over?
Once they have had a hassle-free shopping experience with you, they’re more likely to strengthen the association and sign up as a regular customer.
- Consider cart abandonment emails: Did you know that when you send an eMail about abandoned carts to a customer, they open almost 44.1% of them and 29.9% of them even result in recovered sales?
The reason for this is simple – if a customer has added an item to her cart, she already likes it! All you need to do is remind her of what she has left behind with probably a discount coupon or an exciting offer to finish the transaction.
Pro tip: Try sending the first cart abandonment eMail within the first hour of abandonment for better results.
- Optimize mobile experience: By the time 2021 ends, the share of mobile commerce in total eCommerce sales will reach 72.9%. Naturally, an online shopping portal that is not meant for mobile phones will lead to an increased mobile cart abandonment rate and decreased conversion. Thus, it is important to have mobile-optimized eCommerce solutions.
Let’s face it – abandoned carts are a heartbreaking wake-up call. They suggest that your products/services meet customers’ needs but you need to align your eCommerce solution to optimize the customer experience.
However, there’s a brand new opportunity at the end of this tunnel. Since your products are up to the mark, all you need to do is understand the customer journey better and create a holistic online experience for your visitors!