Why do most shoppers abandon their carts? This has been a rising concern for eCommerce businesses globally, and strategists are wondering what’s going wrong.
Cart abandonment in eCommerce refers to a potential customer adding items to their online shopping cart but leaving the website without completing the purchase. This can happen at any stage of the checkout process, from viewing the cart to entering shipping information, but ultimately, the customer needs to complete the transaction.
Cart abandonment is a common phenomenon in the industry. Market research from Baymard Institute indicates that on average, consumers abandon 70.19% of online shopping carts. A closer look at home will reveal that cart abandonment stemming from unsuccessful searches (using the search box or function) stands at a significant 63% in India.
Common reasons for cart abandonment
This has sparked an interesting debate about online shopping habits as brands desperately try to understand how to lower cart abandonment rates and increase conversions. In this blog, we’ll explore the pressing reasons behind online cart abandonment and how to tackle them.
Top 4 Reasons Shoppers Abandon Their Carts & Solutions That Work
Here are 4 common reasons why shoppers abandon their carts and best solutions to solve these abandonment:
Reason #1 – “I’m not sure why I am paying this; there’ll be another better offer”
The fear of missing out on a better deal often distracts customers from completing their purchases. According to Baymard, extra costs such as taxes, shipping, and platform fees contribute to around 48% of abandoned carts. Moreover, many shoppers compare prices to see the best offers they can get for their purchases.
With this ease of comparing products and prices across multiple sites, customers are quick to switch if they find even a small saving. Maintaining brand loyalty in such a competitive market is increasingly challenging for retailers.
Solution: Leave Intent Targeted Push Notifications
To maximize cart conversion, use targeted push notifications to entice customers with promotions or messages when they’re about to leave. As soon as the user’s mouse/gesture moves towards the exit button, a pop-up offering discounts or coupon codes can appear, encouraging them to stay and complete the purchase. Similarly, brands can also send pop-up emails and notifications like, “We hate to see you go. Here’s a special code just for you!”.
Reason #2 – “I have trust issues”
Many online shoppers are skeptical about the virtual representation of products and the security of online payment gateways. They often ask questions like – is it safe to buy this online and can I return it? Is this a genuine site for buying clothes? What is the delivery time and shipping fee?
As already established in the previous point, unexpected costs, such as taxes and shipping fees at checkout, can further erode their trust. Besides, insufficient or incorrect product information, grammatical errors, blurred images, and unclear payment details also contribute to this mistrust.
Solution: Clear Trust Messaging
Build trust by adding rich product content that gives your audience specific and purposeful information about your product, such as delivery time, return policy, how to use it, special ingredients, who it is suitable for, what pairs well with it, what consumers have to say about the product’s performance, etc.
Here’s how we enhanced the content for our client, Colorbar
Reason #3 – “Checkouts can be complex and time-consuming”
Despite the surge of smartphones and social media, not everyone is tech-savvy or familiar with online shopping. A complicated checkout process can confuse users and discourage them from completing their purchases. For instance, making it mandatory for users to register before purchasing, especially on mobile devices, can lead to drop-offs.
Solution: Keep it Simple, Silly (KISS Approach)
Simplify the online checkout process by removing unnecessary fields and text and only asking for essential information. To address customer issues during checkout, offer additional support through Live Chat or feedback buttons.
Reason #4 – “I’m unsure about the return policy”
Unclear or unfavorable return policies can deter customers from completing their purchases. If buyers are uncertain about the ease and conditions of returning a product, they might abandon their cart to avoid potential hassles later.
Solution: Transparent and Flexible Return Policies
Clearly display your return policy on product pages and at checkout. Offer flexible return options and ensure the process is straightforward. Highlighting free returns or extended return periods can also reassure customers and reduce cart abandonment.
The way forward
In conclusion, by addressing security and credibility concerns, retailers can significantly reduce cart abandonment rates. Ensuring a safe and trustworthy shopping environment not only enhances the overall online shopping experience but also fosters brand trust and encourages customers to complete their purchases. At the same time, brands must pay attention to customer-centricity and ask themselves:
– Is my app/website customer-friendly? Can they access it easily from – their preferred devices?
– Are we providing the right information to our audience?
– What are customers saying about the brand?
By implementing customized content and marketing strategies, eCommerce businesses can see a marked improvement in their conversion rates and customer satisfaction, ultimately leading to greater long-term success.
Looking for smooth checkouts and transactions? Contact us today to lower cart abandonment!