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Cart abandonment counts for a huge loss of revenue for online sellers as it means missed sales and loss of customers. The average rate of abandonment is approximately 75-80%. Some reasons as to why the shoppers abandon may be because they are reluctant to pay delivery costs or create an account. A dragged checkout process, unclear pricing, and dubious brands may be other reasons.
This phenomenon is inevitable and should not be viewed as a discouraging factor. Jeremy Smith, a renowned Economist, offers a hopeful view of cart abandonment. Instead of viewing abandoners as lost customers, regard them as potential customers you can recover. At Least 75% of first-time visitors are not going to make any purchase. Even some of the regular customers may purchase the tenth cart abandonment.
Here are some tips that may help you reduce cart abandonment :
1. Build trust in your transaction format :
The scope of apprehension is large in online shopping. People won’t purchase until and unless they feel secure about your transaction format. Unexpected shipping costs or payment security concerns may discourage them from buying. Optimize your website to the point of clarity that eliminates any doubt arising about your business. Build transparency about your costs and payment options.
2. Add progress indicator on the checkout page :
A prolonged checkout process is frustrating after browsing through a whole list of items. This can be avoided by including a progress bar on the checkout page. The majority of the customers love to know that they are ‘almost done’. If the customers know where they are and are sure they can get going after a couple of clicks, they are likely to proceed well for you.
3. Include Thumbnail Images of products during the checkout :
This comes as a form of reassurance for the customers. Often they forget what they have added to the cart already. It is not like they can see the product like in a physical store. The assurance eliminates any possible distraction and helps them avoid any mistake like adding similar products.
4. Offer Alternative/Multiple Payment options :
Not all individuals avail the same payment options. Therefore you may be favoring a handful of people, others may not feel inclusive if you have just one or two payment options. Make provisions for multiple payment options. Use security logos as trust symbols for customers who feel hesitant with leaving their credit card details. Make sure the logos are commonplace and recognized by all.
5. Smart and effortless navigation between the cart and store :
Remember, the whole point of online shopping is comfort. People want a quality experience that is smart and smooth. They should be able to add items to the cart and quickly get back to browsing for the rest. Lack of ease in navigation creates discomfort and makes the customers lose interest in the whole shopping experience.
6. Optimize the page load speed :
The customer should be satisfied with the loading speed that leads them to the final checkout. The fast-loading pages improve the shopping experience. The customers may come to your website again for the same. Make sure that the final confirmation takes almost no loading time. The last thing you want is to have a customer panicking over whether their order went through successfully.
7. Create a clear and solid refund policy :
Security can ensure a base of regular and loyal customers. They need to know that they can return the item if it didn’t meet their expectations and they will be refunded. A hassle-free refund is very important for the success of your e-commerce business. This peace of mind for the shoppers may become your USP which will make them coming back for purchase.
8. Offer free delivery or discounts on delivery charges :
While some people may understand that delivery charges are necessary to sustain the at-the-door service, most of the time free delivery is widely sought after. Try to make your delivery free if possible or make it minimal. Cart abandonment due to this extra cost is quite common. Customers often see this delivery cost as an extra payment they are being forced to pay.
9. Send emails for the recovery of abandoned carts :
Track the customer’s activities of abandonment and send them emails as a reminder of what they are missing out on. Push notifications may work equally fine. This would help in redirecting them to the items left behind.
10. Optimize the description of the product :
Clarity and precision are rewarding in online platforms. The customers shouldn’t feel baffled by any vague description. Use clear and easy language that everybody can understand. Write only what is necessary. Focus on the key point that speaks enough of the product.