Commerce Essentials

What Influences Your Shopping Cart Abandonment Rate?


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More and more, e-commerce site owners are recognizing a universal truth in their industry: understanding the reasons for shopping cart abandonment  is key to increasing daily business transactions. Several factors lead to incomplete purchases, customer loss, and a general decline in website traffic–most of which are preventable and in fact reversible with the proper solutions. Many think that a major overhaul of their website is what’s needed to increase business, but before you do anything large-scale and potentially unnecessary, try making small changes that directly target the following influences to your shopping cart abandonment rate.

 

Shipping Costs

Maintain customer satisfaction with a better understanding of shipping costs. Most customers have a general idea of a desired item cost, but shipping remains an unpredictable, and often surprising, variable in online purchases. Free and flat rate shipping provides comfort in checkout, while invisible/excessive fees offer only disappointment. Remember, receiving products remains important to the customer, but feeling slighted will result in a defense of personal finances, ie an abandoned cart.

 

Sales, Promos, and Discounts

Customers want to feel valued and, of course, save money. Smart sales strategies prioritize these desires with a comprehensive knowledge of their impact. Sales, promos and discounts encourage customers to complete purchases, while websites missing related ads fail to increase transactions. Likewise, home page sales ads seem needy or illegitimate. Instead, show structure with a separate section for special prices. Each step toward professionalism supports a decline in shopping cart abandonment.

 

Payment Options

The number of available payment options directly affects your customer base; the more options you provide, the more customers you reach. And, reaching a wide-range of customers reduces your shopping cart abandonment rate. On the other hand, limiting payment options cuts you off from the world. Consider the range of successful website marketers, from known freelance professionals to Amazon and eBay, and realize the influence of PayPal, gift cards, and more on decreasing the chance that customers will jump ship.

 

Contact Information

Modern technology supports a growing number of entrepreneurial businesses without physical addresses. As a result, up-to-date contact information remains the stamp of legitimacy customers need to feel secure. Of course, customers may not desire to contact you, but displaying these details allows for a certain, business-wise transparency. Site visitors know that, though there isn’t a salesperson circulating the aisles alongside them, they still have someone to whom they can direct questions or comments. Provide this information to minimize customer hesitation during checkout.

 

Reminders

Forgetful customers require you to reach out. Email reminders provide a non-intrusive way of addressing unpaid shopping carts. But, this obvious link to reducing shopping cart abandonment isn’t the only benefit of such outreach. Each reminder shows dedication and responsibility, creating a relationship between you and your customers. Remember, there’s potential business until you lose the sale. Without reminders, you remain aloof and risk losing a host of returning customers.

 

If your site can improve in any of these areas–more transparency, better payment options, whichever–then put a pause on your site renovation, and stick with the basics. Understanding these influences on your cart abandonment rate can take you far in retaining more customers long-term.

 


This entry was posted in Cart Abandonment Rate, Ecommerce, Online Shop Owners, Shopping Cart Abandonment.
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