Shopping-cart abandonment is a thing, and it’s hurting many e-commerce businesses. Knowing what it is and why it happens is essential to address the problem. Cart abandonment happens when a customer adds an item or items in their cart and then leaves without purchasing anything.
The average rate of cart abandonment for online retailers is 69.57 percent, which makes it a pretty common occurrence. Cart abandonment doesn’t happen randomly—most of the time, customers don’t go through with their purchase for good reasons.
Why Customers Abandon Their Carts
According to the Baymard Institute, the top reasons customers abandon their carts are the following:
- Expensive extra costs (e.g., shipping, tax, fees)
- Being required to create an account before checkout
- Long and complicated checkout process
- Total order cost isn’t displayed up front
- Site crashed
- Questionable site security
- Slow delivery
- Unsatisfactory return policy
- Limited payment options
- Declined credit card
To reduce shopping-cart abandonment, you should determine which factors cause customers to give up before the final step. See which of the reasons above apply to your customers, and create a solution or solutions that will target the problem or problems.
What You Do about Cart Abandonment
While you do your research on the specific reasons customers abandon their carts on your shop, here are a few general solutions that have proven effective in reducing cart abandonment.
Offer Free Shipping
High extra fees are the number one reason customers abandon their carts. There’s really only one best way to solve this problem, and that is to reduce the cost of extra fees.
Consider offering free shipping to your customers. It will place more financial burden on your business, but there are ways you can still make a profit while helping your customers save on cost.
Many carriers offer low-cost but slower shipping services, which you can offer to your customers for free. You can give them the option of faster shipping for an extra fee if they need their delivery expedited.
Set a minimum order to get free shipping. Customers are more willing to spend their money to buy another product rather than pay for shipping.
Fix Your Website
Having a website crash before you can successfully check out the item can be incredibly frustrating. Most customers will abandon their cart, especially if they’re asked to fill out their details again.
Like a physical shop, your e-commerce website also needs to get maintenance from time to time to keep it working smoothly. Optimizing your website will also significantly enhance customers’ shopping experience on your site, reducing the likelihood of cart abandonment.
Work on your website’s security too. With data the rampant cases of data theft, online buyers are not likely to leave their sensitive information on sites they think are unreliable. Display your security certifications too to assure customers that their data will be sufficiently protected.
Simplify Your Checkout Process
An overly long and complicated checkout process is a huge turnoff to customers. Most buyers will abandon their carts if checking out takes more a couple of minutes to complete.
Keep your checkout process simple, and make sure all the necessary details (e.g., the total cost, summary of purchases, shipping address) are easy for the buyers to find. Being asked to create an account right before checking out can lead to customers abandoning their carts, so consider allowing guest purchases on your site.
Offer More Payment Methods
If the shop does not accept their credit card or the only payment method the customer can use, then the customer has no choice but to abandon their cart. Limiting your payment methods to a select few can isolate customers who don’t use these methods. Offer several payment options to cater to different shoppers.
Improve Customer Experience
These days, having high-quality products is not enough to attract and keep customers. Modern consumers want the complete package. They want good products, excellent customer service, and rewards for their loyalty. In short, they want the best customer experience:
- Many brands have used personalization technology to enhance the shopping experience for the customer. Many more use loyalty programs to reward and retain customers.
- Quick and responsive customer service, via live chat and 24-7 customer support, has also helped improve customer experience.
- Ensuring an unforgettable boxing experience using customized boxes and packaging has won over many customers and had a huge hand in the growth of the subscription box industry.
When they shop, today’s customers are not only shopping for products but are also shopping for the best experience.
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