The abandoned cart in online shopping has become a serious problem for many ecommerce and retail businesses. This real issue has negative impact on the conversion rate and revenue of your business. Therefore, what are the reasons for the abandoned cart? How to reduce the abandoned cart rate? We’ll look at this article now!
1. What is abandoned cart?
Abandoned cart in shopping online is when an online customer collects items then puts them into their cart, but leaves your site without completing their purchase. Any items that enters the shopping cart but never makes it through the transactions is considered to be “abandoned” by the shopper. The abandoned cart is an important problem of the online shopping process. Therefore, the retailers pay attention to it carefully.
2. The common reasons for shopping abandoned cart
Customers are required to create an account before purchasing
Some retailers make the customers to register themselves before having any purchase. Therefore, some customers are not comfortable to provide their personal information then they opt out. Other customers think that it is worthless to fill out long forms just in order to make a single purchase. These create the abandoned cart for your business.
The abandoned cart due to unexpectedly high shipping cost
Some businesses have a very high shipping cost for the products purchased. Therefore, it will be extremely expensive for customers if they don’t buy multiple products or make bulk product transactions. Furthermore, with the high shipping costs, their products are not shipped within a couple of days. Then customers don’t accept this today. Finally, the customers will divert to other site searching for better deals or free shipping options.
Long and confusing checkout processes create the abandoned cart.
Nowadays, the customers are looking for the simple terms and conditions at checkout. They are short and concise. If the customers feel inability to proceed further because of long and confusing checkout process, they will create the abandoned cart without a second thought.
Price are shown in foreign currency
Not all customers have the ability or time to convert currency before buying the products. If there is no display of cost in local currency or exchange rate to calculate the actual price of product, they will immediately leave your site and make the abandoned cart.
The website collapses and shows slow response.
Many times, while a customer is browsing through the products, the site gets slowly and collapses. This hinders the customer journey and lead to poor customer experience. As a result, that leads them to other sites where they can have better shopping experience.
3. The tips to reduce the abandoned cart for ecommerce website
Forget about making people register for your site
If someone doesn’t want to register for an account on your website, don’t make them. In addition, you can use a social media so customers can sign up with their Facebook profile. This makes it quicker for customers and you will receive all information from their Facebook profile.
Reduce price shock
To reduce the abandoned cart due to price issues, make sure that your shipping costs are transparent while the customer is browsing through your products. You should add a shipping calculator before check out. This helps customers estimate their shipping costs and minimize surprises later on. In addition, another way is to reduce shipping costs by offering free or discounted shipping cost based on the order value.
Provide guest checkout option to reduce the abandoned cart
You shouldn’t require customers create an account. Instead, you offer a guest checkout option. All the information used to create an account will be gathered for shipping. Finally, you can offer to save their information for future orders.
Implement a user review system
You should have a user rating and review system on all of your product pages. Therefore, people can see when other persons are satisfied with a products. Then they remove doubt when walking through the checkout module. This helps your site decrease the abandoned cart
Tell areas for customers to ask questions and discuss to each other.
You can have whole list of questions that past users have asked. And the seller can answer the questions or other customers can chime in. Especially, the customers are less likely to make abandoned cart if those answers are clear.
Product question for Magento is the suitable extension for your site with all questions, answers on FAQs page.
Follow steps to boost your site speeds
If your website takes more than three seconds to load, 40% of the people are going to leave because of it. Optimizing your site requires a few techniques but your number focus should be speed. A good starting place is Google PageSpeed Insights . This tool will give you some great suggestions on quick fixes to make your website quicker.
Complete checkout testing on a consistent basis.
Some stores do best with a few steps in the checkout process. While others are better off with the only one step process with Magento One Step Checkout. This helps your customers purchase products quickly without any barriers of language and degree. Then the abandoned cart rate will decrease.
Overall, you can’t always win every time a customer wants to leave your shopping cart. However, you have many options to control the abandoned cart numbers as much as possible.