Shopping Cart Abandonment is one of the most common problems that companies face when it comes to online shopping. It happens very frequently too. We have all at some point left items in the cart, thinking we’ll come back to it. However, we never do.
What is Shopping Cart Abandonment?
Shopping Cart Abandonment is when a customer adds items to their shopping cart with the intent to buy it, but not going through the final checkout process. In the real world, this process is equivalent to removing items from your cart during the payment process.
This is one of the biggest hurdles that a lot of companies face in eCommerce. According to research, on average 67.91% of all shopping carts are abandoned. This directly reduces their profits and results in sales lost. This is why companies spend time and money to understand why their customers don’t complete the payment process.
They also try to perfect and create a seamless shopping experience for their customers to ensure that they go from browsing the website to adding the products to their cart to actually making the payment.
There are a lot of differences why shopping cart abandonment happens. Let’s take a look at the top 7 reasons why customers abandon their carts and how you can avoid it.
7 Reasons For Shopping Cart Abandonment
Unexpected Costs
Has this ever happened to you? Once you’re done shopping and you click on the payment, suddenly there’s an extra cost there that you had no idea about? Well, a lot of people face a similar problem.
This is also the #1 reason why a lot of people abandon their shopping carts. 25% of customers claimed unexpected costs as the reason for not completing a purchase.
How to Avoid?
In such cases, it is best to let the customers know upfront that they might incur extra shipping costs, as this will prepare them when they reach the final payment page. In addition to shipping charges, also ensure to list clearly in advance any extra taxes or fees that they would require to pay in addition to the cost of the product.
Knowing how much they have to pay will ensure they end up completing the entire payment process.
Additional Registration
No one enjoys long forms, am I right? Similarly, when customers are asked to fill additional registration information or complete long registration processes, the end result is shopping cart abandonment.
How to Avoid?
If you would for them to sign up with you, keep the registration process short and simple. Offer features like Sign up with Google or Facebook, which reduces effort on their part.
You can also offer guest checkout options, which only require limited information such as Name, Shipping Address and Phone Number offering a much faster checkout experience.
Long / Complicated Checkout Process
Similar to long registration forms, if your check out processes are long and/or complicated, you are definitely going to have people dropping out.
How to Avoid?
A short and simple checkout process is preferable. Keeping it simple and leading them through the checkout step-by-step will ensure fewer abandonments.
Insecure Payment Gateways
Trust is extremely important where money is involved. You would not prefer giving money to companies you have never heard off. Similarly, having shady or insecure payment gateways can increase shopping cart abandonment.
Payment gateways are programs that allow users to make online payments. Since these are connected to accounts, it is very important that these gateways are secure and trustworthy.
How to Avoid?
Having shady payment gateways that look buggy can result in a lot of people not trusting your company. So, it is important to choose trustworthy payment gateways that offer a simple and seamless experience.
No Express Shipping Available
This might not seem like an important reason for shipping cart abandonment, but this the 2nd most common reasons why people opt out of ordering.
A lot of people prefer using express shipping options to get their deliveries fast. If this is something that you do not offer, you are definitely going to miss out.
How to Avoid?
When partnering up with shipping companies, it is important to ensure that your shipping services include express or 1-day delivery options.
Glitchy Website
A website that takes long to load pages or crashes very often is definitely frustrating. It is also one of the reasons for shopping cart abandonment.
It is said that if a website does not load in 3 seconds, people won’t remain on it. This is also true when it comes to shipping. A website that takes longer to load or glitches when you are trying to order is not a website people will frequently visit.
How to Avoid?
In such times it is important to ensure you create efficient websites that are clean and bug-free. Look for reputed website builders that can help you create eCommerce websites that are fast and simple.
Lower Price Options Available
Another reason for shopping cart abandonment is when people find same or similar products on competitor websites for a lower price. They will most likely choose to purchase from the other shop, and you will lose sales.
How to Avoid?
Keep an eye on your competitors and stay updated on market trends. It is important to stay ahead in such a fast-paced market.
Know your product, highlight it in a good light and if someone else is offering a similar product for a cheaper price, try to reduce your price to meet the market norms. You can even offer your customers a discount to ensure they purchase from you instead of your competitors.
Shopping Cart Abandonment is something that is common and it is relatively easy to deal with. While some situations may be out of your control; some things you can control.
Always put yourself in your customer’s position and try to build a brand that is customer-centric. This should help you get high sales and also customer loyalty.
