From a well-known e-commerce site to the newly inaugurated online store, digital shopping cart abandonment effects have been a serious cause for every shopping site.
And, yes, there could be several reasons – psychological to economical, for why users are prematurely quitting the transaction. But, this poses really a dreadful challenge to the retailers. It becomes tough to manage the inventory due to a severe fall in a purchase.
What could be the reasons here? Do you know?
According to the Business 2 Community nearly, 56% of the users go for shopping cart abandonment during their online shopping because of the hidden costs. Well, an overly priced cost always hit a customer hard.
Thus, you need to evaluate every aspect of your business and go for adapting a A/B Testing.
Conduct the research and collect thorough information to optimize your shopping site. Also, make necessary changes to combat the digital impact of online shopping cart abandonment on your online presence.
Here, we have covered all the problems, solutions, expert tips, and tricks for reducing the rate of Shopping Cart Abandonment. Stay tuned to know in detail.
What is Shopping Cart Abandonment?
Did you go for an online shopping spree?
Have you ever added items to the cart but didn’t make it to purchase? Irrespective of whatever unfavorable reasons it could be? It is called a digital shopping cart abandonment.
This is really a very important element that retailers need to consider while expanding its potential customer base.
How to calculate the digital shopping cart abandonment effects?
The calculation of the digital shopping cart abandonment is very easy and understandable. You need to-
STEP – 1 Calculate the total no. of ‘transaction initiated’
STEP – 2 Calculate the total no. of ‘completed transactions’
STEP -3 Divide step 2 by step 3 and get the result.
Through the cart abandonment rate, you can evaluate the % of users who had the intention to purchase but somehow didn’t complete the order. This happens with multiple shopping stores.
However, if the rate of digital shopping cart abandonment is higher, it represents a poor user experience. You need to find some serious solutions to lower down the % to maximize your sales.
This is an essential business metrics to focus upon correlating with the customer conversion rates.
Which are the serious reasons for Shopping Cart Abandonment?
Shopping Cart Abandonment is a serious wake-up call for all the retailers to find out quick solutions and overcome this obstacle.
Do know, in March 2020, almost 88.05% of orders were not converted. And the highest purchase drop-out or cart abandonment rate of 96.88% has been noticed with the automotive sector.
According to Hazel Bolton, Optimization Consultant at User Conversion, Poor usability is one of the major reasons for Shopping Cart Abandonment.
Thus, from these shopping cart abandonment statistics, you can say that it has become an eternal nemesis for any e-commerce retailer.
So, let’s uncover which are the main root cause for this problem-
1. When the check-out process is very complicated
As a shopaholic person, you anyhow want to clear the process faster to finalize the order. But, a few stringent form filling, detailing checking, authorization, and what not processes, forcibly loses the interest.
Yay! It’s tiring to compulsorily follow these requirements when confirming the order.
This, not only impeded the current shopping experience and builds up a negative impression of ‘never coming back again’. It can lead to a serious impact on your online store. Mind it well.
2. Long delivery time and improper shipment
Do you know, 60% of the cart gets abandoned, due to weak shipping attributes.
Every shopper waits for their orders to be delivered in time (most importantly, reasonable time).
And if it doesn’t, the interest and preferences of shoppers get deter. However, either this reduces the frequency of shopping from your site or a direct app delete.
3. Zero discounts and offers
Do you know 93% of the shoppers use a discount code throughout the year to make the purchase?
This shows the power of offers and promo code. So, when your online store doesn’t provide any discounting offer, the chances of customers shifting to a competitive site are always higher.
4. Rigid Payment options
A payment gateway is a final step to completely convert your users.
But, when you open up limited payment options, it ultimately drives off the customer from shopping the item.
Thus, an inability to connect with diverse options gives the user a reason to leave the site and go for the other.
5. Lack of trust with your online store
This really happens when your customer doesn’t trust you. And the reasons could be when-
- Your site doesn’t have testimonials and client reviews
- You fail to picture the real people or known celebs
- Doesn’t open up with return policies
Which are the Tried and Tested strategies to overcome digital shopping cart abandonment?
After evaluating the possible reasons for digital shopping cart abandonment, it’s time to take action on overcoming this obstacle with your retail shopping cart.
So, let’s discussed some proven strategies to efface out the digital shopping cart abandonment effects.
1. Optimizing the performance of the website
No user will wait for your website to load. It’s really hard to hold patience when you are diving to shop for your favorite items.
A fast loading time will encourage their interest and desire to shop more and stay for long, reviewing multiple items.
Thus, an inclination for buying products will surely improve here.
2. Give assurance to the listed products
Do you know digital shopping cart abandonment has negative effects on available inventory?
Thus, to increase its sale, give guarantee and assurance to the actual best products.
You must show trust symbols like- PCI-DSS compliance and other security seals to give confidence to your users.
Give certified remarks as well to make a quick purchase without any second thought.
3. Maintain a win-win refund and return policy
Weak return policies are the main reasons to withdraw hands over the delicate, or luxurious products.
Thus, make sure, you maintain a strong refund and return policy encouraging users to make big ticket purchase and try new products without any hesitation.
Show them a sense of accountability to confirm their order with a stronger intention.
4. Project the thumbnails during the final process
Thumbnails are the best way to reassure your customers of what they have bought.
Through this, customers will be able to review their purchase and simultaneously, confirm the transaction for a quick booking.
Thus, you can go for setting up the thumbnails to let your users clearly, review all information in one window with no clutter.
5. Other common strategies
In the race of expert views and premium services, common strategies still have a wider reach. Take a note to follow this for a seamless user experience.
- Offer several payment and banking options
- Show reviews, starts, and pictures of the actual item
- Incorporate brand seals into every product
- Ease to trace your shipment details
- Live chat with experts to suggest the complementary
Thus, try these effective strategies and improve your sales funnel to streamline your recovery process.
However, you can always hire an eCommerce Developer to manage the effects of shopping cart abandonment.
How to attract the affected users back with the proven Shopping Recovery Methods?
Yes, we know, digital shopping cart abandonment has negative effects on available inventory.
So, the catch is- how to regain the trust of your previous and potential customers? By following the above strategies, you can retain your existing users.
But, how to attract the affected users back to your website? Is this possible?
Well, yes, by using Shopping Recovery Methods!!
1. Abandoned Cart Emails
Abandoned Cart Emails are one of the effective sources to get back your past users to your website. Thousands of templates are available to curate and craft an alluring message for enticing the user’s attention.
Thus, all you need to do is prepare an email including good offers and discounts so users open the mail and drive back to your online store.
Well, do you know, 40% of cart abandonment emails are opened. Among that, 50% of these are clicked? To support the facts, 28.3% of e-commerce revenue successfully drives out of the abandoned cart emails.
You can get their email address from your data records as they sign in before shopping.
This shows a good chance ONCE AGAIN! Don’t miss it. Keep trying. You can still manage your past customers with Abandoned Cart Emails.
2. Abandoned Cart Retargeting
The power of Abandoned Cart Retargeting is incredibly powerful and robust. All you can do is place the retargeting ads on the check-out page. Go for Google shopping cart and create a shopping campaign.
Once done, target the popular social media platforms. This is how you can reach their top of mind recall.
And yes, this strategy REALLY WORKS!
According to 99 firms, there are 76% of chances where you can get clicks through retargeting ads. Well, it has 10x the CTR.
So, now, would you try?
THE FINAL WORDS –
Every customer has a different preference, taste, purchasing habits, and of course, differential behavior. You cannot judge ‘all’ based on the ‘one’ segment.
But, one thing that is common for sure with all the customers, is the check-in and check out page. The initial must be welcoming and bring users fast to their desired items. While to attain a top of the mind recall, the last experience must be delightful.
It takes only a second to confirm the order as well as to leave the cart. What holds back is the delightful experience of users within your store. Make sure, it is friendly and enticing.
If you still face difficulty with adding new features and integrating with new functions, contact Info Stans now! We are a trusted eCommerce Development Company and can help you with clearing off Shopping Cart Abandonment issues.
We are just a call away.
Hope this article has really helped you. Do share your views in the comment section.
- Affect the impression of the brand
- Results in a lost sale opportunity
- Disrupt the merchandising inventories
- Maintain transparency with cost, return and refund
- Make up with fast and on-time delivery
- Include progress indicator thumbnails
Customer abandon the online shopping carts due to several reasons-
- Compulsion on account creation
- Availability of better options
- Over charged shipping cost