Online shopping is the language that everyone loves in this era. The best thing people love about shopping is filling their shopping cart with their favorite products. Customer adding items to the shopping cart turns out to be a blessing for online retailers. Still, at the same time when that shopping cart does not reach the payment page and gets abandoned in between then that is a thing to worry for eCommerce business or online retailers. The term online shopping cart abandonment means customers visit the website, explore the things and choose their favorites and then add one or more items to the shopping cart, but instead of completing the purchase, they exit the website. This means the shopper has abandoned the shopping cart.
This is not a visible problem, so the online retailers can not think of making any strategy to deal with the issue like giving freebies or anything. But there are many ways to fix the problem and not let your customers leave the website without shopping. It requires the analysis and research on why customers are bouncing away from the website even when they like and add the products to the shopping cart. The shopping cart abandonment statistics says that there has been a high percentage of people who abandon their shopping cart.
To know the clear picture, online retailers can calculate the shopping cart abandonment rate. It will support learning why the increase or decrease in revenue and the successful or unsuccessful shopping cart rate. It would give a clear picture of how many visitors visited the website and had full intention of buying the products but instead chose to abandon it.
Why is Shopping Cart Abandonment a Problem for Retailers?
After a lengthy study about the problem of shopping cart abandonment online, it has resulted in the view that it is not a fight between eCommerce business and retailers; instead, it is all about the customers’ experience with the website. Customer experience matters the most, whether it is online or offline. Offline stores have its advantages as it gives the customer the physical experience that the online stores can never do. Customers still have a longing for touching and feeling the products. On the other hand, online stores allow comfortably sitting on a sofa and getting the products on their doorsteps. One of the main problems online retailers face is shopping cart abandonment issues.
Why are Businesses Concerned About Shopping Cart Abandonment? How Does it Impact Their Business?
Online shopping carts are abandoned, and this has a huge impact on the turnover of the company. It affects the revenue of the company to a great level. There could be certain reasons why customers abandon shopping carts, and online retailers have to fix them.
What are the Reasons for Shopping Cart Abandonment?
To comprehend the problem, we need to dive into customers’ perspectives and have to take their place. The major differentiation that needs to be done is between the customers who are coming for window shopping and who has a real intent to shop.
High intent shoppers usually know what they are looking for and products to their wish lists or carts to shortlist them.
Another issue is the inherent nature of the device. It has been seen that the smaller the screen bigger the problem for eCommerce or online retailers. Mobile phones have multiple functions which distract shoppers’ attention. On the other hand, desktops and laptops keep the users’ attention and focus on shopping only. To make m-commerce work, companies can send them an interesting notification, which could lead them to complete their purchase.
More or less, mobile phones are useful for customers every time they are on the move or want to procrastinate. They browse the shopping websites with no primary intent to buy products. Therefore, it gets tough to convert the audience into a customer.
There are many other reasons for shopping cart abandonment, such as not showing the hidden costs and shoppers getting to know about it on the last page during checkout. It could be a complex and long procedure to checkout or multiple pop-ups during checkout. These all affect the customers to abandon their shopping carts online.
Here are Some of the Shopping Cart Abandonment Solutions:
For reducing online shopping cart abandonment, make the customers experience painless, fast and seamless. Websites are taking too much time to load a page then the customer would surely get distracted and start doing other things. What is important to keep in mind is that customers do not want to leave their favorite products because of the slow speed of the website page. Provide them with prompt experience and that will let you increase your sales.
– Short and Sweet
Keep the checkout procedure short and sweet. The long methods consume more time and energy of the customers, so keeping it short helps a lot. Easier checkouts are equal to more revenue.
– No Uncertainty
Credibility and honesty are the things that customers value the most. Online products should not be portrayed with wrong information. You can assure your customers by showcasing the videos and photos that would help in showing realistic images. In todays’ era, customers value the attributes of the company.
For instance, if it is an online clothing store, customers want to know how it would look on their body type and skin type, but it would be pocket-friendly to photo shoot models with every body type and skin type AI technology to rescue.
– Price Transparency
Websites should include all the prices and additional charges in the product advertisement instead of surprising the customers by adding the extra cost on the checkout page. It automatically allows the customers to abandon the shopping cart.
When customers know that they can purchase products and in case of any defect or size problem they can easily do free returns then customers shop more from the website. Keeping the return policy easy and quick lets the shoppers make their mind before shopping.