Thursday, August 6, 2020
Home Business Planning How You Can Improve Your Shopping Cart Abandonment Rate

How You Can Improve Your Shopping Cart Abandonment Rate

Did you know that 25% of all online shopping carts get abandoned, according to Andersen Consulting and Forrester Research? If you look at the statistics from other research studies, the abandonment rate could be as high as 75%!

There are many reasons why online shoppers lose interest in purchasing an online product or service. Your job is to eliminate many of the main reasons for abandonment, enhancing their shopping experience all the way through the eCommerce checkout process.

Here are some tips on maximizing your online sales conversions:

Show the Product Clearly

One main reason online shoppers do not follow through with checkout is that they not concretely sure about what they are buying. Be sure you upload high quality, but accurate photos of your products.

If your online image does not match what the customer receives, you will likely receive a return, and it could hurt your eCommerce business with bad online reviews.

Show Your Badge

Before an online customer even begins adding items to a shopping cart, be sure they know that your transaction process is safe. Prominently display your security badge so shoppers know their information is encrypted and safe from prying eyes.

Display Extra Costs Up Front

Many online shoppers give up at the very end of the checkout process when they are shocked at the extra costs, such as shipping and taxes. However, if they know the costs along the process, it is more likely they will follow through to the end of checkout.

According to the study conducted by Forrester Research, the number one reason for shopping cart abandonment is shipping fees. In fact, 57% of respondents stated they abandoned shopping carts because they “didn’t want to pay shipping costs.” Another 48% left their carts because the “total cost of purchase was more than expected.”

Be sure your online customers know what shipping costs apply, and try to display the applicable taxes to an order as it goes through the process, not just at the very end.

Provide Support

There are many online shoppers who are not as handy with a computer as others. They may have questions or get confused along the shopping and checkout process. Offer your support along the way. Give your phone number or even instigate an online chat to help quell fears that lead to abandonment.

Shopping cart abandonment is a major issue for online retailers, but easing the entire process will help you fill more shopping bags – rather than facing abandoned carts.

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