According to various studies conducted online, eCommerce stores experience upto 77% of cart abandonment rates. On an average, Baymard Institute reports that shopping cart abandonment rates remain at least a 69.89% across the world – irrespective of what an online store sells. If you take numbers into account, that’s a whole lot of people reaching your website and leaving without making a purchase. To make things worse, these people reached your website through all the campaigns that you have been investing in, so far.
Here’s why most online stores experience high shopping cart abandonment rates, the reasons why it happens and hacks you can use to reduce the number of people who leave products behind.
Why do online stores experience high shopping cart abandonment rates?
Customers tend to add products they really like to their carts and leave without making a purchase most of the times. Irrespective of the deal that an online store is running, they’re willing to take the risk of exploring other options available to them. Here are the primary reasons why your store experiences high shopping cart abandonment rates too:
- They were just browsing through products and didn’t really want to make a purchase
- They forced to sign up on your website to complete a purchase and didn’t see a guest checkout option
- They found the shipping costs to be too expensive
- They felt that the checkout process was too lengthy and overwhelming
- They were skeptical about transacting on your platform (security concerns)
- They did not see their preferred payment mode
- They did not find their preferred shipping method
- They felt that the overall website experience was not good
- They simply found a better deal for the same product on a different site
If you consider think about each of the reasons above, you’ll know that they are literally the basics that even you would expect from an online store.
When was the last time that you made an extra effort to purchase from a store that didn’t offer you a great website experience? Or you managed zooming in and out of product images on mobile to get a better perspective, and make the purchase?
It’s just inconvenient. Therefore, in most cases, it is the lack of an amazing shopping experience – right from browsing to finding the right shipping and payment modes, that cause high cart abandonment rates.
How can you reduce your cart abandonment rate?
If we had to simply put it in one sentence, the answer or the solution here, would be: improve your online store’s experience for the customers. The better their online shopping experience is, the lesser is your cart abandonment rate.
A few ways to ensure that your online store visitors don’t just add items to their cart and leave without making a purchase, include:
- Simplifying your navigation so that they can find products easily
- Creating compelling product descriptions with visuals (view guide here)
- Improve your cart visibility so that the visitor is constantly reminded of items being there
- Provide guest checkout option for those who don’t want to sign up on your store
- Optimize your checkout process and make it faster to complete
- Reduce price shock by ensuring the shipping costs are upfront
- Win trust by adding security certificates on all your online store pages
- Implement an exit intent overlay to re-capture a visitor’s attention before they leave
- Analyse and offer the preferred shipping methods
- Analyse and offer the preferred payment modes
- Create a mobile app to make it easier for your customers to shop (get started here)
- Implement push notifications that remind the customers of the items left behind
- Automate cart recovery campaigns to let customers know what they might be missing out on
- Use re-marketing and retargeting to remind the customers of the products added to their abandoned cart
- Leverage scarcity or offer time bound discounts to nudge visitors to make a purchase on their first visit itself
- Offer free shipping or competitive discounts wherever possible
Every online store has different challenges when it comes to acquiring more customers and generating greater number of sales every month. That’s why you need to consistently track how visitors are interacting with your online store and how your mobile users are engaging with your store’s app. It’s how you optimize your online store and mobile app, using this data, that helps you reduce your cart abandonment rate.
Confused or would like to discuss tactics that can help you with high cart abandonment rates?