Abandoned carts on ECOMMERCE sites
cart abandonment occurs when an ecommerce customer adds products to a shopping cart but leaves the site before the purchase is completed. The average abandonment rate is 75% (SaleCycle), but among mobile users the rate is even higher, about 85% (Sleeknote).
The good news is that something can be done to reduce basket abandonment rates and optimize the online purchase process. Ecommerce site managers need to understand the purchase experience from the customer’s point of view so that they can identify and correct purchase process weaknesses.
What causes a customer to abandon a basket and how can the percentage be reduced?
1. Additional payments are not specified at the beginning of the procedure. Customers want cost transparency from their favorite brands. When the final price adds additional costs like shipping and taxes, 55% of customers abandon their baskets because of those “hidden costs” (baymard).
Solution: We recommend displaying the shipping price in a prominent location on the site. 34% of customers abandon because of shipping costs (SaleCycle). Therefore, if the brand offers free shipping, this should be explicitly stated.
2. Price Comparison. Many customers check several sites before submitting their credit information. They use the shopping basket tool to compare competing brands and determine which is the most affordable.
Solution: Include limited time benefits that incentivize the customer to make an instant purchase.The more the benefit is perceived to be logical and worthwhile to the customer, the more likely he is to complete the transaction (for example, using technology tools that identify customer preferences and automatically “bounce” on relevant product offerings.)
3. Fear of an unsafe site. This is one of the major barriers to purchase completion. 39% of customers are afraid to disclose credit information on sites for fear that the information they share will be hacked and misused (Loqate).
Solution: Install an SSL certificate on the site that ensures secure information transfer on the Internet. It’s important to know that Google claims that installing an SSL improves a site’s SEO ranking. Another way is to add TRUST SEALS, for example:
4. The site does not support the customer’s preferred payment method. Not every customer can or wants to pay by Visa or Isracard. If no other payment option is given, the customer will simply leave the site without completing the purchase process.
Solution: Make it easier for customers to make payments by allowing a number of credit cards and also include services that enable secure online money transfers such as PayPal, etc.
Solution: Be sure to adjust the size of fonts, images, and icons for all devices so that the content displayed on the site is clear, accessible and comfortable to read.
6. Lack of technical support. One of the concerns about online purchase is that “there is no one to talk to”, i.e. if there is a problem during the purchase process, there will be no one to contact.
Solution: We recommend displaying a customer service phone number or offering a chat with a representative who can provide real-time answers throughout the purchase process. In fact, 60% of customers prefer to get an instant answer to a chat question as opposed to talking to a representative (kinsta(.
In summary, there are a variety of ways to reduce basket abandonment and help complete the on-site purchase process. Want more information and practical solutions to prevent basket abandonment? Contact us.