Cart Abandonment is a problem, and even the big fishes are dealing with it every day, but what are they doing, which is having them maintain an optimum shopping cart abandonment rate with sales intact? If taken care of, the fundamental parameters will ensure a healthy ratio. It’s important to understand you cannot eliminate the ecommerce carts abandonment ratio, but you can reduce it. This article highlights the top reasons for cart abandonment (and how to prevent it)
- Unexpected High Costs.
Unexpected higher costs rank both in probability and impact as the primary reason your visitors leave your website.
Experts consistently suggest sellers put themselves in the buyer’s shoes to streamline their buying journey. Nothing makes for the biggest turn-off than realizing the total cost is suddenly far up than what shoppers anticipate.
They are the biggest deal-breakers, and shipping costs and additional costs like taxes or complementary charges also add up.
These costs create an immediate annoyance and agitation. In most cases, customers feel remorse during such purchases only to never return to the same site for purchasing.
- Mandatory Account Creation.
Suppose buyers come into your website to check out the product they’ve been receiving social media ads about. While they are ready to buy the product after thoroughly checking it, a mandatory account creation window disrupts their process.
Given this, it’s relatively more manageable for them to bail out from the window than going through account creation.
Another aspect of streamlining the buying journey is by shortening it. The longer the process, the more is the probability of shoppers leaving the shopping cart halfway.
Mandatory account creation entirely contradicts this basic principle of streamlining the journey. It disappoints the shopper during Checkout and is a hassle for most online shoppers.
Account creation should be a choice and not a necessity. Do we understand how crucial customer data can be for you, but at the cost of losing customers?
- The Window Shopping Spree.
How could we have not enlisted this in our top five reasons? Not all your visitors are willing to be customers, but can you do anything about it?
Since eCommerce stores and browsing the products are just around fingertips, it doesn’t require any specific motive for them to browse your site. It’s too much effort for eCommerce owners to compel visitors to shop who aren’t in the mind of shopping.
Thus, window-shopping makes the following primary reason for visitors to abandon their carts halfway.
They are more likely to browse your store out of boredom or casually add their favorite products for future buying leading to cart fill up. However, even if a product looks compelling and the shopper moves ahead in buying one, factors like a sudden price hike can be a huge turn-off.
Thus if they’re on the fence about buying, it can change their minds, and you’ll have a lost deal. Whatever excitement spiked during that moment will be defused to find a price hike or additional charges.
Coming to the question, can you do something about it? You can focus on reducing any friction point for the consumer.
- No Express Shipping Available.
Do you expect thousand of your customers to plan their expenses before 15 days? A vast majority shop for special occasions and gifts and its most unlikely for them to plan the shopping since 10-15 days earlier. If your online shop is delaying the shipping dates, you’re losing a massive chunk of potential deals and customers for the long term too.
Thus if you haven’t paid attention to it yet, shipping plays a significant role.
While the shipping cost is a major turn-off, delay in shipping poses a substantial threat for large purchases.
According to Pies Steel, human resource professor, we all procrastinate (well, 95% of us). Important purchases are usually time-constrained. Take anniversaries, holidays, birthdays, or emergencies.
If your online website cannot deliver the items on time, customers do not have much option than abandoning their carts.
- Website Security Concerns.
We can’t stress this enough! We’re living in the era of modern internet connectivity, which has made lives quick and everything accessible. But at the same time, it is more prone to data breaches, online thefts, and mistrust.
Though it’s 2022, security concerns haven’t reduced but only increased, and your online shopper today is well aware of it. Think for yourself: will you trust a website with confidential data like card numbers or bank details if they don’t show how trustworthy they are? You won’t, and similarly, almost entire of your targeted customers won’t either.
A website’s trust factor will play the most pivotal factor in 2022 and after that. A lack of trustworthy payment services or compromised payment security is enough to have your visitors walk away.
What can you do to gain their trust? Show it!
Badges like SSL seals and other genuine accepted trust stamps that provide visual reinforcement of trust are common factors that entail belief among your customers.
At the same time, you’ll have to be loud and clear that your customer’s data and information are entirely secure with your website. Because if they’re not safe adding any information to your website, making a purchase is a far-off option.
We discussed the problems, But do we have the Solution to Shopping Cart Abandonment?
We do! While all the above-listed factors are primary concerns and factors for why you’re witnessing huge cart abandonment ratios, the solutions are relatively simple too.
- Share Transparency in Cost:
Online shopping is an increasingly predominant choice for consumers in 2022. Thus it’s your responsibility to be transparent with your customers, especially about security and transactions. Nobody appreciates last-minute hidden cost surprises.
- Seamless Checkout is a Priority:
We’ve discussed this over and over in the blog, and we can still talk about how crucial it is for you to streamline and simplify your customer’s buying journey. The big brands like Amazon and Walmart are consistently focussing on what else can be added to make the journey more straightforward and quick. A significant part of this is removing all unnecessary distractions that can remove the consumer’s focus from making the final call.
- Payment Flexibility and Variety Must not be Ignored:
Your website won’t look rich and sophisticated with unnecessary jingles. Instead, it will look rich when it gives the consumer independence and flexibility in making choices. Everyone has their individual payment preferences, and if not given to them, they’ll lose interest. Thus options like UPI, BNPL, credit and debit card, COD, and all primary payment options should be a must.
- Entail Trust:
Communicate with your target audience how your website has passed and is free of all possible security breaches. You can leverage social media to communicate this with your audience by highlighting the security badges. Add genuine happy customer reviews and testimonials and, most importantly, highlight a money-back guarantee.