DATA & INSIGHTS | 3 minute read
Abandoned cart
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Cart abandonment is a persistent challenge for most e-commerce businesses, with an average rate hovering around 70%. It represents a missed opportunity where customers express purchase intent but don’t follow through. Reducing cart abandonment not only improves your conversion rates but also boosts revenue and enhances customer satisfaction.
What is cart abandonment?
Cart abandonment occurs when a potential customer adds products to their shopping cart but leaves the website without completing the purchase. This metric is a indicator of how well your e-commerce funnel is performing and reflects obstacles in the purchase process.
Common reasons behind cart abandonment and how to fix them
Understanding why your customers abandon their carts is the first step toward addressing the issue. Here are the most common reasons:
Unexpected costs
One of the most common reasons for cart abandonment is when customers are surprised by extra charges at checkout, such as unexpected shipping fees, taxes, or handling charges. Customers often feel frustrated when they reach the final stage of the purchase process only to find hidden costs that were not disclosed earlier.
To mitigate this issue, be transparent about all costs upfront. Display shipping fees, taxes, and other charges early in the process (on the product page or shopping cart page) so customers are not surprised at checkout.
Complicated checkout process
A lengthy, confusing, or overly complex checkout process can discourage customers from completing their purchase. When users have to fill out too many forms, navigate through multiple pages, or deal with confusing instructions, they are likely to abandon the cart.
Streamline the checkout process by minimizing the number of steps and fields required. Use auto-fill options for returning customers, and allow guest checkout to speed up the process. Display progress indicators so customers know how many steps remain, and ensure the design is intuitive and user-friendly.
Lack of payment options
Limiting the payment methods available to customers can reduce the chances of conversion, especially if your target audience prefers specific payment methods. If customers cannot use their preferred method, they may abandon the cart and look elsewhere.
In addition to traditional credit card and debit card payments, consider offering Apple Pay, Google Pay, Klarna, or other payment solutions.
Limited delivery options
Shipping and delivery are often critical factors in the purchasing decision. Long delivery times, or a lack of delivery tracking options can cause frustration for customers, particularly those who are used to fast, inexpensive shipping from other retailers such as Amazon.
Offer both flexible and affordable shipping options, such as free or discounted shipping for orders over a certain amount and provide customers with clear delivery time estimates and tracking information.
Conclusion
Reducing cart abandonment is a critical step in optimizing your e-commerce strategy. By simplifying your checkout process and offering multiple payment and delivery options, you can turn lost opportunities into increased revenue and customer loyalty.
Contact us to learn more about how we can help you improve your e-commerce strategy and lower your cart abandonment rate.
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