The internet has made it easier than ever to buy anything at any time. But with this convenience comes a new problem: cart abandonment, or why people stop shopping and leave their carts behind without buying anything.
This article will cover what we know aboutso far from research studies. As well as the implications for marketers who want to better understand how shoppers behave online.
What is Shopping Cart Abandonment?
cart abandonment refers to the loss of potential sales when a customer abandons their shopping carts. It is a business metric for retailers to monitor, as it directly affects conversion rates & revenue. A high rate of shopping cart abandonment implies a poor checkout process or experience.
A phenomenon where shoppers will abandon their carts without completing the purchase. Instead of buying something. This can be for various reasons such as forgetting to buy that one last thing or just not being sure what they want from it all. But there are also other factors like lack of interest in the product itself and even change your mind about the brand you were shopping with.
Why Track Online Shopping Cart Abandonment?
One of the most important aspects of shopping online is being able to checkout and purchase what you want. If shopping cart abandonment becomes a problem, it can lead to significant losses in revenue for many businesses. You may be wondering why we should track shopping cart abandonment at all.
Shopping cart abandonment is actually one of the easiest ways to calculate how well your business’s marketing efforts are working. So you need to know which strategies are effective and which ones aren’t.
Online shopping carts are the future of retail. It’s important to understand what leads people to abandon their carts and if they can be brought back.
Onlineshould track how customers feel about abandoning an order before checkout. Because there is so much potential that goes unfulfilled with those abandoned orders.
The best way to do this is through– Funnels report which allows users to see what pages they were on before abandoning their purchase. This helps them figure out what went wrong in order for them not to abandon again!
Calculating Shopping Cart Abandonment Rate
Divide the total completed purchases by the total number created of carts created in order to calculate the cart abandonment rate. This will show you what percentage has abandoned their cart on average.
For example, if out 300 people leave after they’ve created a shopping cart but only 100 make it to purchase all items within that list then 67% have left their item in-store and not purchased them at this time.
Statistics for Shopping Cart Abandonment
- Based on , the average cart abandonment rate is 69.57%.
- An abandonment rate of
- eCommerce brands lose revenue each year because of cart abandonment
- Optimizing the checkout process can
- Number 1 reason
- Number 2 reason
- if there is a 3-second wait for page loading
- is because of mobile users facing difficulty in entering their personal information
- will be directed back to you by using targeted ads
- Personalized retargeted ads can
Top Reasons For Shopping Cart Abandonment
This makes shopping more challenging because it’s hard to know what the final price will be until you’ve made a purchase and checked out, which is why lots of customers simply decide not to buy anything at all!
This is the most popular reason why our shopping cart gets abandoned.
Long or Confusing Checkout Process
After the shipping costs and other hidden charges, a non-friendly checkout process is what makes shoppers abandon their carts.
Forced Account Creation
This creates a barrier between the checkout process and final order confirmation, especially for first-timers. It slows down the process and makes people want to opt-out instead of creating an account just to make a purchase.
Online Payment Issues
It’s understandable that most customers are cautious about online payments. If they’re not sure if their information is being handled securely, it can make them feel unsafe and unconfident in the purchase process which could lead to a shopping cart abandonment.
Customers don’t want to add items to their shopping cart and then abandon it because of limitations on the number of products allowed to purchase in one go by one user.
With so many options of the same or similar products, people add items in their cart and later abandon them as they get better deals on other sellers.
Lack of Preferred Payment Option
Many customers have a limited amount of payment options that they can make a purchase with. When the user is unable to find the payment option that he would again abandon his shopping cart.
Undefined Delivery Time
Customers expect their deliveries to be within a reasonable timeframe. If their delivery date gets extended, or the delivery date on site while purchasing is not fair then they might start to look elsewhere.
Speed & Performance Issues
A website full of lags or an app full of issues or errors makes your customers lose their virtual confidence. Such a slow loading of pages can charge a customer twice or become a failed payment.
Lack of Discounts & Promo Offers
Lack of discount or promo codes will push the customer to another platform where they will get all the good deals & promotions.
10 Tactics To Decrease Shopping Cart Abandonment Rate
- Keep all your costs transparent. Customers are more likely to purchase items when they know the true cost upfront, including any shipping charges or taxes that apply.
- Give your customers the option of adding items to their cart, and then allowing for direct checkout from the product page. This will give them a very streamlined experience with minimal effort required by either you or they themselves!
- Add progress indicators to helps users understand where they are in the checkout process, and how much further they have to go. This can be done with a nearly completed progress bar that also serves as an encouraging visual reinforcement for shoppers to continue on their purchase journey.
- Add thumbnails throughout the checkout process. Nervous shoppers will be reassured by seeing a thumbnail picture they are buying before checkout is completed and payment has been processed, something that can’t happen with an online order.
- Provide checkout without login. Guest checkout options are a helpful way to make sure your site is accommodating of everyone, including new visitors. If you don’t want people leaving without filling out the form then offer guest checkout as an option!
- Optimize speed. You want your website to load quickly so that customers can order with ease. Not only will they be happier, but you’ll also see them purchase more of your products while on the site – all because it loaded fast and easy!
- Offer live chat support to make your customers feel more comfortable while shopping. By integrating customer service options into the checkout process, you can reduce cart abandonment rates by offering a friendly face for those who are unsure about making purchases or have any questions.
- Put your customer’s minds at ease by placing compliance certificates and safety seals throughout the process. You can display these symbols to show that you are PCI-DSS compliant, so customers know their information is safe with you until they complete an order.
- When you offer only a single payment option, the customer is faced with an unnecessary set of obstacles. This can not only deter potential customers but also those who are just browsing and might be interested in your product/service. Offering support for all popular options offers convenience to everyone – whether they have funds lying around or if they’re looking for more flexible ways to buy from you!
- The return policy you put in place can make or break your business. Giving buyers peace of mind that the product they are buying meets all requirements for clothing and size standards allows them to focus on what matters most – quality products from an authentic company.
Shopping cart abandonment is a problem for all e-commerce companies. If your company’s shopping cart abandonment rate is high, then you should know why it’s happening and how to combat it effectively with these tactics discussed. You can also use cart abandonment email marketing in order to lower your rate!
Check out Optimite’s awesomefor .
The question remains, do I want to track my company’s cart abandonment rate and analytics? The answer is simple. If it’s a problem for your business then why not find out how to solve the issue with all the information you have.
Let us help! Our team of experts at Optimite is ready and waiting to partner with you to create exceptional cart abandonment email designs and strategies for lowering your shopping cart abandonment rate.
You can stop wondering if or when people are going to buy that one thing they’ve been considering at your store because now you’ll have all the answers!
We can help you decrease your rates with our apps that track the number of abandoned carts on your site. If this sounds like something that might interest you or if you want more information about how Optimite can work to lower your shopping cart abandonment rate, just! We are happy to provide consultations so get in touch today and let’s talk about whether this would be right for your company.
Click here for more information on how we can help decrease your abandoned shopping cart rate through our automated cart abandonment emails!