The bane of an ecommerce shopping cart is high abandonment rates. However there are ways to mitigate this particular problem. Here are Top 7 strategies to minimize shopping cart abandonment rates.
(1) Checkout process complicated
This is the most important reason why abandonment rates are high on some ecommerce sites. The checkout process is so complicated that prospective buyers are unable to find their way to the payment gateway. This frustrating experience can deter even the most enthusiastic buyer. The checkout process must be made as simple as possible and should not exceed 3 successive clicks.
(2) Credibility of ecommerce shopping cart site
Some visitors to an ecommerce site are there merely to check and compare rates. It is the responsibility of the website designer to compel these visitors to complete their purchase on their site rather than navigate away from it. One of the ways is to provide sufficient and necessary proof of their credibility and reputation. This will considerably reduce abandonment rates and improve sales.
(3) Provision of multiple payment gateways
This is another reason why abandonment rates are high. Multiple payment options are essential to improve sales. It’s no longer sufficient to provide PayPal and credit card payment gateways. These must be bolstered by other means.
(4) Security considerations
Studies after studies have shown that minimizing Shopping Cart Abandonment Rates can be achieved by providing adequate security for online transactions. Online frauds and identity thefts have deterred even experienced online buyers from hitting the buy button. Providing SSL certificates and additional security features can lead to more confidence among buyers and less abandonment.
(5) Reducing Shipping Costs
This is another perennial problem which ecommerce shopping carts face. Customers are looking for low shipping rates and even for free shipping. One of the ways to combat this issue is to calculate the overall cost of shipping and add it to the retail price. Shipping costs could be reduced with this approach. However this strategy often backfires when prospective buyers compare price of similar product on other ecommerce sites.
Another possible way to reduce shopping cart abandonment rate is to provide free shipping for product costs which are over a certain threshold. This strategy can also lead to higher overall sales to individual customers who would buy more to avail of free shipping.
(6) Customers looking for coupons and discounts
It’s a no brainer that this factor is closely related to shopping cart abandonment rates. Customers are forever looking for discounts and coupons. Even marginal discounts can sway a prospective buyer to go for the buy button. It’s therefore safe tactics to induce customers to purchase products by offering some kind of discount.
(7) Return Policy
Buyers from online sites are often discouraged due to the fear that the purchased item may not be suitable for them. Return policies can offer a solution to this problem. In practice very few customers avail of return policy and therefore offering to take back an item is essentially risk free.
Conclusion :
Abandonment rates for an ecommerce shopping cart can be reduced with the strategies mentioned above. The final sales figures will depend not on a single factor but on a judicious combination of all of them.
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Kalpana Dogra
Marketing ,Communications & SEO for ‘Avactis‘
