28 Aug Five Reasons for Cart Abandonment in Ecommerce
Shopping cart abandonment issues haunt every eCommerce owner. And we are not saying this just to scare a fellow eCommerce owner. Some data will give you an overall idea of how nightmarish the situation the cart issue is. For instance, the average cart abandonment rate across the industry is almost 70 percent. That 70 % causes about 46 trillion dollars of loss in the eCommerce industry, which is certainly a huge number.
The evidence is true, and data never lies. Hence, eCommerce businesses of all sizes and shapes are taking steps to reduce the number of cart abandonment issues. And the steps they took have produced fine results. Want to know how they are doing this? Of course, you are! But before applying the solution, you need to know where the problem is. Hence, this blog will offer you some of the most common reasons for cart abandonment. And if your business has those issues, take constructive steps immediately.
High costs are the reason for 55% abandonment (taxes, shipping, and other fees)
No one likes to pay extra. If your products have higher tax, shipping costs, or other fees, the customer will try to ignore your business as much as possible. This makes it even worse if your competitors offer deals that are better than yours. And why would they buy anyway, if they get the same product without spending more. Would you buy the same product by spending extra even if you have a better alternative? We think the answer is obvious.
Users are becoming smarter, and they like to compare every time they make a purchase. And if your business can’t compete with your competitors regarding the price, you have to look for ways to reduce the extra charges.
34% abandonment issues are for forced account creation
Forced account creation is something that does a lot more damage than you realize. Account creation comes in between the shopping experience, and it irritates customers. It is especially for those who are making purchases for one time. Hence, we would like to suggest giving the customers the option to do guest checkout.
Give them the freedom whether they have to make an account or not. Once the purchase is complete, then you can ask them if they want to get the update via email or not. To make it short, do not put extra steps in between the virtual shopping experience.
Slow delivery & limited shipping options
Ecommerce business success largely depends on the shipping and delivery experience. Customers like to have different types of shipping options, and they prefer on-time delivery. Here, the faster is better. This is why many e-commerce giants are working and have already introduced faster delivery, such as ” Same day delivery.”
So you have to give your customers different shipping options. Let them personalize the shipping details, delivery date and offer them, different delivery providers. This gives the customers control over their shopping experience. And you can always bring some promo codes to reduce the overall cost of shipping.
Complicated, time-consuming checkout
A fully optimized checkout flow can change your cart abandonment issues in positive ways. A long and complex checkout makes the shopping experience dull. The pages you have should perform best, and there should not be any distractions before completing the checkout. The process should be simple & convenient. Therefore, put enough resources to ensure the user experience has the best quality when building the website.
Check your shopping funnel, find out if there are any unnecessary steps. If there is, remove them ASAP.
Website issues such as frequent crashes, poor responsive will always push customers outside. The bad performance will force the prospect to look for better alternatives. Therefore, test your website in detail and with time. If you find even minor issues, put in enough resources to fix that fast. Identify errors, weak points and fix them on the go.
Shopping cart abandonment has a significant impact on your ROI. Therefore, you have to take constructive steps to ensure the abandonment issues are not drowning your business. However, the above issues, if fixed, can reduce the number of abandonment issues. Hence, you can certainly take those suggestions and recover a lot of cart values.
Want to know more or looking for suggestions from the experts? We have got your back. Contact us to start fixing your cart issues.