Four Easy Ways to Cut Shopping Cart Abandonment Rates
- Posted in Shopping Cart
If you haven’t yet, you should check out the “Shopping Cart Abandonment Rate Statistics” infographic posted earlier on the Invesp blog. Khalid’s opening sentence says it all – “If you run an e-commerce business, you must be aware of the Shopping Cart Abandonment Statistics of your website”.
But, if you don`t know your stats, the infographic is a great place to start, because there, plain as day, right off the top, are simple, easy to understand data that can instantly reduce your shopping cart abandonment rate by at least 10%.
Some Things are Difficult to Change
Check the “Why Web Shoppers Abandon Shopping Carts” numbers near the top of the infographic. All the information you need to start reducing abandonment rates is right there. But not everything is easy to change.
High Shipping Costs (44% of respondents gave it as a reason for abandoning their shopping carts ) and High Product Price (24%) for example. Yes it would be nice to offer free shipping like everyone recommends, and reduce the price, but economic realities are not easy to ignore.
Not Ready for Purchase (41%) and Wanted to Save Products for Later Consideration (24%) are head scratchers: not only will it take some effort to change them, but adding things to a shopping cart and not being “ready for purchase” simply doesn’t make sense.
Even the “No Guest Checkout Option” (14%), can be difficult to change if you can’t assume the risk.
The Four Easy, Abandonment-Reducing Changes
Now we get to the numbers where you can cut abandonment rates easily, quickly and significantly.
1. “Did not Clearly Mention Shipping Costs” (22%). Really? How do you feel when you are about to “checkout” and suddenly you are presented with an unexpected cost? Be upfront about your charges. You might lose a sale or two, but you won’t piss anyone off while you do so.
2. “Need too Much Information” (12%). This one gets me every time: being required to enter my postal code, then “Toronto”, then “Ontario”, then “Canada”, when the postal code alone does the same thing. Of course we want as much information as possible from our customers, but we don’t have to get it all at once, at the moment they are making a purchase.
3. “Complex Checkout Process” (11%). OK, this one may not be too easily changed and sometimes the checkout must be complex. Never-the-less, streamline it as much as you can to reduce abandonment as much as possible.
4. This last one is perhaps the most inexcusable of all: “Website too Slow” (11%). Everyone has occasional technical glitches, slowdowns, downtime, etc., but, when server hardware, high speed connections and packaged ecommerce platforms are at all-time low costs, there`s simply no excuse for a consistently slow site.
Complexity of Purchase – The Customer’s Experience
Looking again at the four changes that can reduce cart abandonment, they are all related to the complexity of making a purchase. In other words, sometimes we make it too difficult for customers to buy.
Why would anyone do such an odd thing? Because we develop ecommerce sites by guessing what’s best for the business, instead of learning to create the best customer experience.
More Than Lower Abandonment Rates: Once ecommerce sites start looking at themselves the way customers do, by understanding the customer’s experience and developing sites around improving it, then not only will fewer customers abandon carts, but they will also be:
- More likely to return
- More likely to give you permission to engage
- More likely to recommend you to others
If there is one thing the infographic illuminates clearly, which many ecommerce sites don’t seem to reflect, it is that sales aren’t dependant only on product, price and incentives, but also on the customer’s experience.
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