How to Reduce High Shopping cart abandonment?
Shopping Cart Abandonment threatens many online retailers .Because around 67% of online shopping cart purchases get abandoned!
67% of carts are abandoned before the transactions are made, what about the rest?
- 55% abandon carts because of shipping costs.
- 38% abandon carts if delivery time is more than 8 days.The rate of abandonment is increasing as more customers become aware of online shopping.I would like to recommend these THREE No Cost and highly effective tips to control your high cart-abandonment rates.
- Credibility Booster:
- Trust Signs:If you are going through a checkout process on a site you have never bought something on before, you may be a little tired of if it is a scam or not. To ensure people you are not going to take their money and run, include third party reinforcement logos like VeriSign.
- Return Policy :Definitely, communicate your return policy inside and outside of the checkout process.
- Progress Bar : Reduce your checkout time by adding a Progress Bar ;so customers know where they are in the checkout process.
- Save Cart For Later:
- Fact: About 24% of shopping cart abandonment is due to wanting to hold products for later consideration but not given the option.
- Experience: I was searching around for stuff and I came across a icy appliance I wanted but then I wasn’t positive if I was willing to pay that much money for it so I left it in my cart and closed out my window. About an hour later, I came back and lone behold, in my cart was still the appliance I had put there.
- Solution :By giving an option to ”Save My Cart”, or automatically doing it for them, it made it easier for me to come back and recall what I wanted to buy because I had time to think about it and it became more apt make the purchase later.
3.Offer Multiple Payment Options:
- Does your e-commerce shopping cart have more than 10 ways of payment?
- If not, then why are you stopping your cart from making profits?
- Do you know of any e-commerce shopping cart platform that has more than 50+payment methods?Go for it!
- Don’t make shopping for your products a Process.. Make it an experience!
Make use of Google Analytics to track the rate of abandonment .If the rate is high, you can study your checkout page, compare it to other online stores, contact the web designer and advise on a redesign to overcome the problem.
Surveying your users may help; at least getting new customers to return to the site can increase the chance of getting a second sale by 300 %.To summarize the discussion I would say , e-Commerce can be a hard business to run, in part because of the irrational nature of buyers.
- Keep shoppers engaged enough to convert them from browsers to buyers
- Simplify the checkout process
- Encourage shoppers to come back if they have orphaned their cart
By making a shopping experience that is convenient and one that understands the consumers needs, you will locate fewer abandoned shopping carts and more completed purchases over the long term.
Digital Marketing @ AvactisNext