- 55% of customers claim higher shipping rates are the reason for them to abandon the shopping cart.
- Another reason for shopping cart abandonment is complicated ordering and checkout processes.
- Not finding an appropriate payment option is also the reason for cart abandonment.
The objective of an E-commerce store is to sell products. However, many customers abandon the cart while reaching the bottom line.
The average abandon cart rate is 69.57% for all industries. There are a number of strategies you can apply to reduce cart abandonment for your E-commerce store. Besides that, Magento store owners can remind their customers about shopping cart abandonments by notifying them via Email, WhatsApp, or SMS using an Abandoned Cart Suite for Magento 2.
Cart abandonment is a usual phenomenon for every E-commerce business, but with some handful tactics, you can reduce the rate and get those customers back.
5 Primary Reasons for Cart Abandonments and its Solutions:
There are various reasons for shopping cart abandonment. A few of it can be seen in the image below:
Here we have discussed the major reasons causing shopping cart abandonment and how you can stop it.
1. Additional Charges
One of the fundamental reasons for shopping cart abandonment is the additional costs for shipping. This includes taxes, hidden costs, and unexpected shipping costs.
55% of customers claim higher shipping rates are the reason for them to abandon the shopping cart.
Supposedly a product costs $20. While reaching the last stage of the checkout, it shows $50 for extra shipping costs and taxes. You will definitely not complete the purchase as it is totally unexpected for you. Ever experienced this as an online customer?
This means E-commerce stores need to be transparent with shopping and extra costs. Show exactly the total shipping and taxes at the product pages and initial step of checkout so that the customers are well aware of what they will pay.
At times offer free shipping to customers or at least discounted price for shipping to reduce cart abandonment. Offer free shipping in below situations like
- First-time customers
- Selected products
- Limited-time period
- To return abandoned cart customers
- For a minimum order value
2. Complex Checkout Process
Another reason for shopping cart abandonment is complicated ordering and checkout processes.
22% of customers say they abandon the shopping cart as they are forced to create an account. While 9% of customers say they abandon the cart due to lengthy and unclear checkout.
Sometimes the user cannot find where to click to complete checkout. Or the customer is asked to enter details, again and again, result in cart abandonment. Forcing customers to create an account is also a cause for shopping cart abandonment.
Allow guest checkout to customers, so that the customers can place an order without registering to your E-commerce store. After they have placed the order, you can prompt them to create an account if they wish. Allow customers to register with a single click eliminating complex steps, with Google One Tap Login for Magento 2. Doing this will decrease shopping cart abandonments especially for first-time customers.
Make the checkout process of your E-commerce store clear, straightforward, and barrier-free. Have a clear call to action, add a back button to the site and allow editing cart any time.
3. Payment Security
Another cause for cart abandonment is the lack of customer’s trust for payment. Not finding an appropriate payment option is also the reason for cart abandonment.
50% of shoppers will abandon the shopping cart if they cannot find their preferred payment methods. 61% of shoppers will abandon the shopping cart as they are not sure about payment security.
Due to lack of security proof, the user feels uncomfortable sharing their credit card information to your E-commerce site. When the user cannot find convenience in the payment method, there are possibilities they abandon the cart.
To overcome this, including all the popular payment options to your E-commerce store make the checkout process favorable for customers. Moreover, include a trust badge in your site to build the trust, confidence, and credibility of your E-commerce store.
Add social proof to your site. When customers see other customers using your products or signing for the newsletter, they feel suitable to buy from you.
4. Delivery and Return Policy
When the shoppers are not sure about the delivery of their products and what is the return policy, it becomes the reason for shopping cart abandonment.
1 out of 10 consumers will abandon the cart because of the unsatisfactory return policy and 36% will abandon the cart for prolonged delivery.
Yes, if the product delivery takes more time, customers will switch to other sites that offer quick deliveries. Additionally, if the returning of products is complicated and involves an additional cost for returns, your abandon cart ratio will definitely increase.
Provide fast delivery of products to customers in order to retain them. Make your return policy crystal clear. Allowing free returns and extended time for return helps to build the trust of customers who are doubtful about buying.
Ways for transparent return policy:
- Elongated return date
- Free returns
- A clear description of the return policy on site
- Compensation for wrong delivery
5. Site Optimization
Online users are the most impatient ones. They will not wait more time for a page to load. Longer checkout forms are also the reason for cart abandonment.
57% of customers will abandon the cart if they have to wait for more than three seconds for a page to load. And 80% of them will never return which is more creepy.
Unnecessary form fields make customers frustrated and they leave the cart. Asking customers to enter shipping and payment information, again and again, makes the checkout process complicated.
You need to keep your site fully optimized and keep the page load speed under three seconds. Use compressed images to make your E-commerce site faster.
Ask only for the necessary information to the customers in the checkout form. Or in case you include additional fields, it is advisable not to make them mandatory for customers to fill in the details.
Best Strategic Tips to Reduce Cart Abandonment for E-commerce
Although there are a number of reasons for shopping cart abandonment, the blame is not always on E-commerce stores. There are numerous other reasons leading to shopping cart abandonment by customers.
There may be situations where the user is not willing to shop but mistakenly add items to the cart. Many times users add some items to the cart and leave to add other items later on as they are getting late for work. Several times users shop while sitting on a bus and before completing the purchase, they reach the station. This all leads to shopping cart abandonment.
Despite the above reasons, you cannot neglect to get them back for the carts they have left unfinished. Here I have discussed a few best strategic tips to reduce shopping cart abandonment.
1. Remind them
It is incorrect to think that you are the only one on the customer’s mind. There are numerous brands they visit before making a purchase. They might have left many carts abandoned as they did for your E-commerce store. So, remind customers about, who you are, what they did on your site, and what they left behind. This can be a great trick to regain them.
2. Sense of Urgency
Another way to reduce shopping cart abandonment is to apply a FOMO (Fear Of Missing Out) technique or create a sense of urgency. Show users that the offers are available only for a limited time. The sense of urgency makes customers shop promptly.
3. Offer coupons and discounts
You can retarget customers by offering discounts on the products they have added to the cart. With the fear of missing the chance to get the product at lower prices, the customers will complete the shopping as early as possible.
4. Include a Live Chat option
If the customer does not find whom to contact for answering their questions while shopping, it will result in cart abandonment. Integrating a live chat option with your site helps to prevent cart abandonment at a higher level. Live chat increases customer satisfaction and the user experience of the store.
5. Display Product Reviews
Include customer reviews, ratings, testimonials, and customers using your product photos to create social proof of your E-commerce store. This will also lead to reduced shopping cart abandonment as the customer is confident and trust your site for shopping.
Over to you:
Implementing the above tips for your E-commerce store will certainly help you with reducing shopping cart abandonment. However, every business has different weak spots. So we recommend investigating the points harmful for your company and then move ahead.
Apart from this, keep track of your cart abandonment rate to measure success after implementing these tactics.
*All the facts and figures mentioned in the article are taken from Sleeknote.