Top Reasons for Shopping Cart Abandonment
As an ecommerce retailer ensuring customers complete their purchases without abandoning their cart is absolutely vital. Cart abandonment averages just under 70% across all industries according to the Baymard Institute. This is a frustrating statistic for the simple fact of all the missed sales opportunities for retailers.
Being proactive in combating abandonment before it occurs using ecommerce shipping software is the best way to make sure it does not become common among potential customers. In this article we will cover the key reasons why customers abandon carts, some cart abandonment statistics you should know and how best to address this serious problem:
Top Reasons Customers Abandon Carts
Be transparent when it comes to shipping costs. When presented with unforeseen fees, customers are more likely to abandon their cart. Make it clear if the customer is responsible for shipping costs, add a shipping calculator that calculates cost based on customer location at checkout. If possible, providing free shipping and returns will solve this issue entirely.
The best way to solve the ‘just browsing’ issue is to implement software that builds a customer profile and targets them with personalized ads and follow-up emails.
Better price found elsewhere
Customer profiles and targeted ads tailored to consumer likes with items they may be interested in, especially when on sale, will recapture these would be buyers. Emails or SMS messages with discount offers are enticing as well.
Overall price too expensive
Sometimes as a retailer you can only do so much when it comes to the price of an item. As stated before, making customers aware of when merchandise goes on sale, offering discounts and coupons will combat this issue.
Second guessed purchase
When the buying process takes too long it gives the customer the opportunity to second guess their purchase. Speed and convenience are key to making sure the shopper follows through. Apps such as shop, when connected to your sales channel, enables customers to make a purchase in mere seconds.
Website too complicated
Having a clean, simple and easy to navigate website will prevent customers from getting annoyed and discouraged which would send them to look elsewhere to make a purchase.
Be proactive about maintaining your website. To make money as an ecommerce retailer your website must be operational. Investing in a reliable web host, keep your site up to date, monitor performance, run regularly scheduled tests, backup your data and use a content delivery network. You can read more about these six tips to preventing website crashes from Inkbot Design at your own leisure.
Concerns about payment security
With cybercrime exploding in recent years, making your site trustworthy and secure will give shoppers the confidence to execute their purchase. 35% of customers will leave a site entirely if a security badge is not present. Make sure your secure sockets layer (SSL) is not expired and installed properly. Shoppers want to know their identity and financial information is protected and taken seriously by merchants they conduct business with.
Delivery options unsuitable
Don’t limit yourself to one shipping provider. Ecommerce shipping software with robust capabilities, shipping connections and tools will eliminate shipping deficiencies.
Price presented in foreign currency
Ecommerce shipping software is capable of recognizing a customer’s location and changing the currency to their native currency. This is just one of the almost limitless features ecommerce shipping software offers.
If the payment being declined is the only reason the shopper did not make a purchase you have successfully done everything right as an ecommerce retailer. Unfortunately, we cannot give the customer the funds to make the purchase. E-commerce is a for-profit business after all.
Cart abandonment is clearly a serious $4 trillion issue and is the main reason why the ecommerce industry hasn’t already doubled in size. Abandonment cannot be completely eradicated, but with clever strategies and a good ecommerce shipping software solution it can be reduced.