Cart abandonment is a haunting factor in the e-commerce world. Many retailers continue to struggle with a leaky funnel, and high shopping cart abandonment rates are a key contributor. In this article, we’ll identify the key reasons shoppers abandon their purchases and provide seven strategies you can implement to improve your conversion rates.
What is Cart Abandonment?
In the e-commerce industry, cart abandonment is a term used to describe when people start on a checkout process but exit the website without making a purchase. Products that are added to the shopping cart but did not complete a transaction are considered ‘abandoned’.
Why does it happen?
Cart abandonment can happen because of numerous reasons, and tracking your shopping journey is the first step to analyzing where you are losing customers. A few common reasons are:
How do you reduce your cart abandonment?
The reasons can range from a poorly-optimized shopping journey to a payment gateway errors. However, you can gradually reduce the amount by following the tips mentioned below: .
The first step towards reducing cart abandonment is using the right offer. If you’re offering free shipping, ensure you have enough stock to fulfill the order. If you’ve got a low-priced product, consider adding a high-value offer to entice customers to complete their purchase.
One of the main inducers of cart abandonment are unexpected charges. So if there are additional charges like the delivery fees or gifting fees, be upfront about it and do not wait to include it at the end of checkout.
Great offers can keep hook customers in, but to keep them, you need to provide them with a great experience. Ensure that your website navigation is seamless such that customers are able to move between cart and store effortlessly. Make it easy to add more products to the cart and create an easy checkout experience.
Once you are set with the navigation, the next to ensure is to create a simple checkout experience that does not confuse the user in any way. Customers want to avoid having to navigate long checkout pages. A streamlined process means less time spent browsing and more time shopping. Add multiple payment options so that customers with different payment gateways can shop easily.
Add a progress bar that lets the customer know about the purchase stage. People love having a sense of achievement, and progress indicators let them know they are one step closer to their goal. Additionally, show reminders of cart content regularly to remove any doubts the customer may have.
Adding social proof to your site increases trust and encourages shoppers to complete their purchases. Social proof includes things like reviews, ratings, and testimonials. Customers naturally trust other customers when it comes to buying a new product, therefore make sure you prioritize UGC content.
If you’re struggling to improve your conversion rate, ask your customers for feedback. Ask them about their experience and how they feel about your products. Find out what they liked and disliked about your site and what could be improved.
Summarising the seven points we discussed in this article, to reduce cart abandonment:
Even though shoppers are unique from one another, a lot of their problems have a common base and that’s where you need to optimize your funnel. A slight drop-down in cart abandonment rates can increase your business growth significantly.
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