One of the difficulties that every online seller faces is cart abandonment. No matter how big or small the order, if the buyer doesn’t complete the transaction, the business owner automatically loses out on the opportunity for sales.
What is cart abandonment? It usually happens when a potential buyer begins the online checkout process but leaves the page before making a complete purchase. Any products that are added to the shopping cart but never purchased are regarded as having been “abandoned” by the customer and it’s just one of many scenarios that happen to retailers.
Let’s find out the common mistakes which lead to shopping cart abandonment and learn some techniques on how to reduce them.
Customers who have made the effort to check your items and have decided to buy them are likely to be turned off by discovering the surprise additional fees, such as taxes and shipping prices. Most buyers consider the shipping rates likely contributed to the biggest factor of cart abandonment.
We already know that consumers detest having to pay for shipping, but they hate being caught off guard by the cost of shipping even more. In light of this, it’s crucial that you provide as much information on shipping charges as you can. Don’t try to tack on shipping fees at the very end of a deal. Be transparent about the price of delivering your products to customers. Remember, “Honesty is the best policy.”
Another way is to offer coupons for discounts or promos. Shoppers enjoyed most online shopping because of these. They will wait for Black Friday, BOGO, or bundle sales. Why not throw them free shipping? This would feel them a total sales stealer. Promos are useless if your customers felt robbed cause of your extra surcharges and high shipping costs.
Long Checkout Process
A smooth flow of checkout is a plus and the real deal of online shopping. One of the main reasons why online shopping was created is the convenience of not having to wait. At this point, your customers shouldn’t feel like they are waiting in a long line to do something. They are more likely to give up if they have to go through a lot of trouble to get what they need.
Your checkout process should be basically like this: shopping basket; billing information; shipping information; shipment method; preview order; payment option; confirmation. That’s it. No more forcing customers to create their accounts or bombarding them with unessential ads and CTAs. Do not complicate your final page and turn your sales into nothing.
Limited Payment Options
Buyers want to see their preferred payment option at the checkout because they anticipate a variety of goods and services at their convenience. It should come as no surprise that customers frequently leave websites and abandon their carts when their chosen or trusted payment method isn’t among the ones offered.
It won’t harm you to offer multiple payment methods. Your advantage in having a good conversion would come from the comfort and expectations of your customers. Keep in mind that different generations favor various payment options. While Gen X shoppers prefer to use debit or credit cards, Gen Zers and millennials prefer alternative payment methods like in-app purchases and mobile wallets.
Another trend for payment methods today is via installment basis or “shop now, pay later” which is an advantage for you to get the trust of your shoppers. They draw the conclusion that your brand is reliable because you accept this form of payment.
Trust and Brand Issues
A successful e-commerce website should place a high priority on customer and business security. Shoppers aren’t always comfortable providing credit card info online as it is common knowledge of the existence of card frauds and scams.
Let the padlock do its role. Most people, not only shoppers, always check first the padlock icon on the search bar. Expect a rise in cart abandonment if it isn’t. Make a careful strategy and safeguard all the data you’ve gathered from your customers. Showing a secure lock icon, especially during payment options, boost confidence for buyers to share their crucial data.
Another way is the visibility of your reviews. Social proof is very important and gives a huge impact on a successful purchase.
Because reducing cart abandonment directly boosts sales and revenue for your company, the checkout process should be optimized. The mistakes listed above are only a few of the reasons why customers frequently abandon their shopping carts and depart your website. However, the dynamics of online shopping are always an opportunity for improvement, particularly when it comes to effectively convert orders. The easiest way to do this is to always put yourself in your shoppers’ shoes.