Do you know, what is the cart abandonment rate of 2018, 2017 and 2016?
And is the cart abandonment rate reduced or increased as the year passes?
And the irony is that many of the marketers don’t know why users abandon their products and services and how to resolve this problem. Therefore in this blog, I am going to discuss why users abandon the cart and how to reduce shopping cart abandonment rate.
[Know how to drive holiday season sale in our blog 7 ways to drive more holiday sale with social media.]
Why users create a situation of Cart Abandonment?
For eCommerce sites, the problem of cart abandonment is a kind of stuff they face daily. It’s a grand problem for eCommerce and, according to the scenario, it’s an alarming situation for them. The cart abandonment rate has been continuously increasing year by year.
Do you know, most of the users come to the checkout page but, before completing the transaction they leave. Have you ever thought what the reason behind it?
To understand the reason, why this happens to your business, try to put your leg in your customer’s shoes.
“It’s well said, you can’t understand the problem of your customer until you put yourself in their situation.”
Here I will try to tell the top reasons for cart abandonment but, to understand more briefly imagine yourself in your consumer’s place.
Conversion Rate of Cart Abandonment of different Industries is shown in the image given below.
How to Convert Abandoned Carts?
The good news is, there is an array of ways to reduce shopping cart abandonment rate. Using these tactics, the online businesses can increase the probability of converting visitors into a sales-ready customer. So, let’s start discussing these tactics.
1. Secure Transaction
One of the reasons why shoppers abandon you is because they have trust issues. The consumers are well aware of the fact that, nowadays criminals have moved online. It’s their responsibility to take every step carefully.
Suppose when the customer visits your website for the first time what they want to see?
When a consumer shops on a website for the first time, they want some social proof to trust your website, before providing the credit card information to you.
Therefore to gain the trust of online consumers, you need to include security badges. The following image shops what security badges you can include in your shopping site to improve conversion during this holiday season of 2018.
2. Creating Scarcity
One of the ways to reduce shopping cart abandonment rate is by creating scarcity among the online shoppers. Through emails, it’s easy to generate a sense of urgency in your customer’s mind towards the product and services. The scarcity can be created by any one of the following examples.
For instance, the email may be like the following one.
To create it more enticing and memorable you can also include landing pages like the given one.
50-80% off on the best styles and brands
A coupon option is also a good option for creating scarcity among the consumers. For instance
Therefore, to reduce shopping cart abandonment rate scarcity is one of the good options that eCommerce marketers can use this festive season to boost their sale.
3. Save the Cart for Future Purchase
According to statista, 38% of users are only researching. They want to compare the product price of yours with other websites before coming to any decision. They simply want to save the cart for future purchase. So, what’s the problem here?
The problem arises here when the customer returns to your website to complete their purchase but, he/she founds the cart empty.
The customer goes back and forth only because he is in chaos and he needs some time to come on a decision.
So, make sure that your cart items are always ready for the purchase whenever the shopper comes to your site.
4. Easy Checkout Process
If your checkout process is long and lengthy then mark my words, they are just there to create chaos and distraction for the customers.
If you want your users don’t go to your competitor’s site then, try to make your user checkout experience joyous.
Things to keep in mind to reduce checkout abandonment rate at the time of checkout
- The checkout process shouldn’t be long and lengthy
- The call to action buttons should be clearly visible and work properly
- Remove all the distraction [for example remove all unnecessary pop-ups and ads.]
- The page load time should be fast
- The site navigation should work properly
- The product page of your site should be enticing
- Provide users with real-time support
- Provide a progress indicator [so, that chaos will not occur in the consumer’s mind about how much checkout process is left]
- Offer save to cart functionality to the consumer’s
5. By providing Offers to the Customers
Do you know, nowadays consumers search different website just for free coupons and discounts? If they don’t find a one in your site, they prefer to go to your competitor’s site. [ know how you can boost eCommerce sales with digital coupons. ]
Benefits of coupons & discounts for buyers and marketers
- Entices more consumers
- Increases customer loyalty towards your site product and services
- Helps in enhances brand awareness
- Retains existing customers
- Buyers save a lot of money and, they tend to buy more products and services
- Increases sales and revenue
- It’s easy to track and measure coupons
Therefore, by providing as many as possible coupons and discount offer to your consumers you can reduce shopping cart abandonment rate of your site. By providing coupons and rewards you can entice new leads for your eCommerce business and can easily convert them into leads. [ know how to convert leads into sales-ready leads in our blog top lead conversion strategies. ]
6. Provide Free Shipping
By providing free shipping, to your customers, you have the opportunity to win their heart and their loyalty.
63% of cart abandonment is only because of the high shipping cost and 44% because of the websites provides no free shipping.
The advantages of free shipping
- The probability of purchasing the product increases
- Increases the conversion rate
- Gains loyal customer
- The marketers can control free shipping cost
Therefore, from free shipping, you have the above-listed benefits. But if you don’t want to offer free shipping make sure all the extra charges are clearly visible to the customer before adding the product to the cart. [Get to know how to gain the loyalty of customers with social media in our blog how social media can enhance loyalty program.]
7. Keep Cart Visible
One more reason for shopping cart abandonment is that the cart button is not clearly visible to the consumers.
24% of the customers want to save the product for future purchase.
Therefore to reduce shopping cart abandonment rate, make sure the add to cart button and cart products are visible to the customers. So, that it doesn’t go out of sight and out of mind from the customers.
Just like the example is given below.
8. Include more Images and Videos
Problem- One of the reasons why consumers abandon cart is because there is a lack of images and videos of the same product. The online shopper’s wishes for more product images for taking the desired action.
Solution- By providing sufficient images and videos to the consumers about the products, you can stop online consumers to go to your competitors. Nowadays, customers prefer online shopping, therefore, to come on a decision they require more, images and videos will help to decide whether they want it or not.
9. By providing secure policies
Because of unsatisfied and lack of return policies, the online shoppers abandon the cart. Do you know, nowadays, shoppers prefer to see the return policies of your website before going to the checkout page and if they don’t find a reliable and suitable return policy anywhere on your website then, they prefer to leave.
Try to mention all the policies on your website the below example will help you to understand what you should include in your return policy.
- What is the last date for returning the product
- What are the policies if the product arrives broken
- If the consumer doesn’t like it anymore or changed his mind
- If the product size doesn’t suit the customer.
To reduce shopping cart abandonment make your policies clear and visible to the consumer and make sure you have answered all such questions in your refund and exchange policy.
10. By Eliminating Surprises
According to statista, 8% of online shoppers abandon the cart due to extra charges. The online shoppers have said, the extra charges suddenly appear during the checkout process which made the customers irk and they, finally choose to abandon the cart.
If you don’t want to offer free shipping to your online consumers, it’s fine but, you can still reduce the number of people who abandon you because of the high shipping cost and other charges.
The above statistic shows that customers don’t like surprises. To reduce shopping cart abandonment rate, it’s necessary to eliminate all the surprises that emerge during the checkout. You can make sure that all the extra charges are clear to the online shoppers before they add the product the cart.
11. By Offering Multiple Checkout Options
Do you know 7% of shoppers abandon the cart due to lack of payment options? What is the point of all the efforts and work done by you for bringing the customer to the checkout page, if you lose them during the checkout just because of lack of payment options?
The following payment options are provided by Flipkart
- Credit and Debit Cards in India and other 21 countries – 3D secure
- Internet Banking
- E Gift Voucher
- COD – Maximum order value is Rs 50,000/-
- Phone Banking – By using 256-bit encryption
- EMI Option for American Express, Citi, HDFC, ICICI bank
Therefore, to reduce the shopping cart abandonment rate, you can offer your customers multiple payment options.
12. Provide Guest Checkout Option
Don’t compel your visitors to sign up with an account to purchase product and services from your store. Instead of that try to provide an overwhelming user experience with guest checkout option.
Do you know, what’s the advantage of providing a guest checkout option?
And by providing them with a guest checkout option, you are just facilitating them and making their task easy. Therefore, by providing a guest checkout option, you can reduce shopping cart abandonment and you have the option to increase the revenue. You can allow the users to buy stuff from your shop in exchange for their phone number. Following are the advantages of providing guest checkout to your online consumers.
- More and more visitors can turn into your customers by enabling guest checkout option
- It helps in increasing the sales and revenue
- It makes your customer happier
- Reduces shopping cart abandonment rate
- Increases the probability of regaining the customer towards your site
- They can work as your promoters [ They will tell about the features of your site and foster others to purchase from your site.]
Once they become your customers and you have gained their trust, you can ask the customers to fill the sign-up page and to give their email address to become your permanent customer. The below images shows the guest checkout page of eBay.
The Final Words
From the above stats, it’s clear that the shopping cart abandonment rate is increasing year by year. And it’s the alarming situation to start planning about it.
[To know more about the stats of abandonment please read our blog improve your business stats with abandoned cart recovery.]
Therefore in this blog, I have discussed some of the strategies that will help the eCommerce stores to reduce the shopping cart abandonment rate this holiday season on Christmas Eve, Halloween, Thanksgiving day, Black Friday and Cyber Monday.
[Know how to increase the sale of the online-brick and mortar store in our blog increase the retail sale by 10 simple ways.] The above-mentioned tactics will help you to enhance the shopping experience of your users.
Share your comments if you find this blog post informative.