Cart
abandonment is one of the biggest problems in the e-commerce industry. It is
said that it accounts for about 70% of the revenue. In such conditions, it
becomes very important to know what are the reasons why buyers do not complete
the purchase. Along with this, it is vital to talk about those methods that can
be used to reduce cart abandonment issues.
For this,
everything has to be done, from implementing customer-friendly strategies to
understanding customer behaviour. Let us know some effective methods that help
reduce cart abandonment and recover lost sales.
Understand
that why buyers abandon carts
To reduce
dependency, it is important that you know about some of its major reasons. The
reasons given below are the usual reasons why people leave the cart. These are
–
·
Unexpected shipping cost
·
Forced account creation.
·
Long check out process.
·
Fourth Security concerns.
·
Limited payment options.
·
Unclear terms and conditions.
·
Seventh, Price comparison behaviour.
·
Slow website or loading time.
Abandonment
also happens because sometimes, customers are just browsing. There is no
intention of purchasing the product right away. However, for other reasons,
relevant plans can work to remove the issue considerably.
Optimize checkout
process
You can
also reduce the number of pending cart purchases by simplifying the checkout
process. For this, you will have to work on a few steps.
Simplify
the checkout process. Multi-state or complicated checkout processes always
leave shoppers in a fix. For this, reduce the number of steps and save time by
using features like auto-fill. Offer guest checkout. Forcing your users to
register before completing the purchase.
Offer
guests a checkout option after the buyer has completed the purchase. After
that, provide a simple and short procedure for account creation.
Use
progress indicator. After shopping, users should know the status of their
order. By displaying progress indicators, you can manage things better. This
creates trust between customers and makes things predictable.
Be
transparent about costs
Users don't
like any kind of shocking surprise about the cost. So, the more transparent you
are with cost, the lower your cart failure rate will be. For this, focus on
some important factors.
·
First, display shipping costs
early. Display the approximate shipping cost in the cart or product page in
advance. Offer free shipping threshold.
·
Inspire users to meet the minimum
order value to receive free shipping benefits. It works most of the time.
·
Another factor is the cost
calculator. By giving real-time tax estimation, you can make the buyers' costs
more predictable.
There are
no last-minute surprises for regular shoppers. They want things to be clear and
predictable. With this, the chances of conversion improve.
Offer
multiple payment methods
Every kind
of buyer has different priorities regarding payment. Now, if they do not get
their preferred payment method, they do purchase the products added to the
cart. Therefore, it is significant that you cater to a variety of payment
preferences.
These are
·
Credit and debit cards.
·
Buy now, pay later option.
·
Digital wallets like Google Pay or
Pay Pal option.
·
Local payment methods are also a
good option for international users.
·
The option to purchase products in
installments should also be available. Even the refinance options should be
there if the buyer finds the installments hefty. There are options to get debt
refinance loan in Ireland on easy
terms.
The more
options you provide, the easier it will be for shoppers to shop. In that case,
they will not leave things in the middle due to the lack of payment options
available.
Build trust
with security features
No need to
explain that security concerns are of utmost importance for every buyer while
shopping. If they are not able to find safety on your website, they will not
complete their purchase.
For this,
you can work on the specifications which require displaying the required SSL
certificate. By using recognized payment gateways like Google Pay, you can make
your website look authentic. To make it socially acceptable, post customer
reviews and ratings.
Along with
this, providing customer support options and clear contact information is also
important. A professional-looking website ensures customer security.
Due to
security concerns, buyers often feel less confident about shopping. If you
implement these security measures properly on your website, you can reduce the
cart abandonment rate.
Retarget
abandoners with email campaigns
Approach
the shoppers who have abandoned the cart through strategic email campaigns.
This will greatly increase your chances of getting some new sales. For example,
send an email within 1 hour of the cart abandonment.
This
inspires them to make a purchase before they are fully ready to do so. Send
personal content and mention the names, images, and prices of the products they
have added to the cart.
It is also
a good idea to incentivize their shopping by giving offers like promotion codes
or discounts. Follow-up emails in two to three days allow shoppers to complete
the purchase.
Use
exit-intent pop-ups strategically
As soon as
the user is visiting the website, you can try to hold them by showing some
pop-ups. One is a discount coupon, the second is unlimited time offers to show
urgency, and the third is a reminder of products in the cart.
However, it
is important to show these pop-ups when the customer is about to leave the
given website. But don’t show these messages early. If the user does not start
the purchase for a long time, send repetitive discount offers.
The
majority of the customers do shopping only after seeing these unlimited-time
offers. If you make them feel privileged, then they will make pending shopping
decisions.
Add
cart-saving features
You can
also capture the customers through cart-saving features. A cart-saving feature
is available through which a shopper can save multiple carts to use later. Some
of the usual suggestions here prove to be better for your e-commerce website.
For example,
allow users to send carts to their personal emails. Other than this, enable the
auto-saving cart. Show cart signs across the website. This means that users do
not have to search their added predicts form again and can start again from
where they left last.
Once they
are back on the website, no matter how many hours, days, or months, they can
continue. In fact, sometimes, by looking at the products in the cart, they
recall that they needed something that they didn’t order. That is the moment
they make a purchase without delay. Buyers do not want to forget to purchase an
important item added to their cart.
Conclusion
After
reading the above steps, it is easy for you to understand why shoppers leave
the cart. If these suggestions are worked upon in an organized manner, the cart
abandonment issue can be reduced to a great extent. However, due to multiple
options in the market, sometimes it becomes a big challenge.
If you work
on these steps, then your cart abandonment can be reduced up to 70% to 75%. The
E-commerce industry is a high-risk industry. Due to this reason, chargeback
issues are also very high in it.
In that case, making a better strategy can make things more predictable, transparent, and supportive for the customers. If you offer these three aspects to your customers with full commitment, you can easily handle the issue of cart abandonment.
