Shopping cart abandonment is one of the most significant reasons e-commerce retailers worry about their business.
According to Listark, only 2 customers out of 10 complete the checkout and proceed to payment. A study conducted by the Baymard Institute shows that the average online cart abandonment rate is at 69.23%. Both stats are discouraging when you factor in the time, effort and money it takes for a business to convince its customers to purchase something from them.
While a small percentage of cart abandonment is nothing to worry about, look into it if you feel that most of your potential clients are abandoning their cart instead of making a purchase.
We’ve listed down 3 of the main reasons visitors abandon carts and what you can do to fix it.
Reason #1: Extra Shipping and Taxes Costs
Statista reveals that 56% of consumers leave the cart because they were presented with unexpected costs i.e. shipping or taxes. You have to remember that in online interactions, people don’t like surprises, especially when they are in the form of costs.
Before consumers decide to purchase your product, they do some research and compare your items with other e-commerce websites. Only when they see your prices are lower than the others, they add the product to the cart. But what happens when he ends up viewing the total and realizes that you’re charging way too much for shipping and that compensates for the product’s reduced price? He will stop what he is doing and leave, immediately!
There are two straightforward ways to make sure that customers aren’t turning back because of the added shipping costs.
First, you need to sure you’re transparent about what you’re charging from the get-go. If you don’t want your customers to feel like they were cheated because the final price differs greatly from what they saw initially, you need to state the total cost on the product page.
Second, if you can, offer free shipping as this will be a big step for your website and your business. The best thing you can do to make this happen is to factor in the shipping cost in the product price, so the customers feel you’re delivering the item for free. Though it may seem like the amount is increased and no one will buy the product, the fact is that customer will pay for a $60 product but won’t pay $10 shipping fee for a $50 product.
Reason #2: Forced to Create an Account
There’s something about creating an account that doesn’t appeal to us. And it is problematic when someone asks you to register when you’re about to purchase something.
According to stats, 28% shoppers abandon their cart because they were asked to create an account. Remember that while customers may be prepared to buy from you, they might not want to have a relationship with you, and so they will feel like your mandatory sign-up is a sign for them to go somewhere else.
Forcing potential customers into registering with the website causes barriers to orders, and a study showed that eliminating this step can boost conversion rates by 45%. However, removing the option for account creation is nearly impossible because the data you collect through this process is indispensable. So, what do you do?
For starters, you can make the sign-up process optional, while reminding them of the benefits of creating an account on your website. This will give you a chance to satisfy all your customers whether or not they want to register. Remember for this option to work, you need to show real benefits such as order tracking, deals, and invitations because these will work best when you’re trying to convince visitors. Remember understanding consumer behavior is important if you want your website, mobile app to deliver the best ROI.
Another more straightforward way to get the info you need without making the client forced is to make them sign-up as a guest. Guest checkouts are loved by one and all because they are simple and don’t require your customer to fill out a lot of information.
Reason #3: Complex Checkout Process
The third most common cause of cart abandonment is a complicated checkout process. Bear in mind that most customers don’t have the time to spend hours figuring out your checkout process to order the things they like. When they are visiting your e-commerce website, they know what they are looking for and want to be done with everything as soon as possible. So, a complicated checkout process will do nothing but frustrate customers causing them to leave the cart. However, everything from the address and shipping info to the payment is crucial, so what do you do?
You should try to shorten the forms as much as possible, so the client only fills out the essential details. You shouldn’t try to reinvent the process altogether. The reason for this is simple. Customers are used to a particular flow, and when they are presented with something new, they get confused.
Also, use good coding practices to ensure there are no bugs and your website keeps running smoothly.
Implement and integrate these solutions if you’ve facing cart abandonment issues and you’re sure to experience success with your website.