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With the rise of the internet, eCommerce stores have become a popular choice for shopping. According to Statista, global retail eCommerce sales are expected to reach $6.3 trillion by 2023.
This growth is mainly due to the convenience that eCommerce offers. Customers can shop from the comfort of their homes without having to go through the hassle of visiting physical stores.
However, this convenience comes with a downside. Since customers are not physically present in the store, they are more likely to abandon their shopping carts.
According to Baymard Institute, the average cart abandonment rate is 69.23%. This means that almost 7 out of 10 customers who add items to their carts end up not completing the purchase.
There are many reasons why customers abandon their shopping carts. The most common reason is high shipping costs (44%). This is followed by unexpected costs (27%), such as hidden fees and taxes.Other reasons include:
- Complex checkout process (17%)
- Lack of payment options (6%)
- Website issues (5%)
As an eCommerce store owner, it is important to take steps to reduce shopping cart abandonment. By doing so, you can increase your sales and grow your business.
Here are some tips on how to reduce shopping cart abandonment:
1. Offer free shipping
One of the best ways to reduce shopping cart abandonment is to offer free shipping. This is because shipping costs are one of the main reasons why customers abandon their carts.
According to a study by ComScore, 63% of customers said that they would be more likely to complete a purchase if free shipping was offered.
If you can’t offer free shipping, you can try to reduce your shipping costs. For example, you can offer flat-rate shipping or offer discounts for orders over a certain amount
2. Simplify your checkout process
By Simplifying your checkout process you can reduce shopping cart abandonment. A complex checkout process is one of the main reasons why customers abandon their carts.
According to Baymard Institute, the average checkout process has 23.48 form fields. This can be overwhelming for customers, especially if they’re just trying to make a quick purchase.
To simplify your checkout process, you can reduce the number of form fields that customers have to fill out. You can also offer guest checkout so that customers don’t have to create an account to purchase from your store.
3. Offer multiple payment options
By offering multiple payment options one can reduce shopping cart abandonment. This is because some customers may not be able to complete their purchases if they don’t have their preferred payment method available.
According to a study by ComScore, 40% of customers said that they would be more likely to complete a purchase if their preferred payment method was available.
Some of the most popular payment methods include credit cards, PayPal, and Amazon Pay. By offering multiple payment options, you can make it easier for customers to complete their purchase and reduce shopping cart abandonment.
4. Provide customer support
Excellent customer support can help in reducing shopping cart abandonment. This is because some customers may need help in order to complete their purchases.
According to a study by ComScore, 66% of customers said that they would be more likely to complete a purchase if customer support was available.
You can provide customer support through live chat, email, or phone. By offering customer support, you can help customers solve any problems they may have and reduce shopping cart abandonment.
5. Use abandoned cart emails
Abandoned cart emails are automated emails that are sent to customers who have added items to their cart but have not completed the purchase.
Abandoned cart emails can be effective in reminding customers about their unfinished purchase and encourage them to complete it
According to a study by DMA, abandoned cart emails have an average open rate of 45.5%. This is much higher than the average open rate for other types of emails, such as promotional emails (17.9%) and transactional emails (21.3%)
Abandoned cart emails can be a valuable tool in reducing shopping cart abandonment and increasing sales.
6. Offer discounts or coupons
Another way to reduce shopping cart abandonment is to offer discounts or coupons. This is because some customers may be more likely to complete their purchase if they receive a discount.
According to a study by ComScore, 52% of customers said that they would be more likely to complete a purchase if they received a discount.
You can offer discounts or coupons in your abandoned cart emails or on your checkout page. By offering discounts, you can encourage customers to complete their purchases and reduce shopping cart abandonment.
7. Use exit-intent popups
Exit-intent popups are popups that are triggered when a customer tries to leave your website without completing their purchase.
Exit-intent popups can be effective in reminding customers about their unfinished purchases and encouraging them to complete them
According to a study by OptinMonster, exit-intent popups have an average conversion rate of 3.08%. This means that for every 100 visitors who see an exit-intent popup, three of them will complete their purchase.
Exit-intent popups can be a valuable tool in reducing shopping cart abandonment and increasing sales.
Conclusion:
Shopping cart abandonment is a major problem for eCommerce stores. By using the tips above, you can reduce shopping cart abandonment and increase sales. If you need help, please don’t hesitate to contact 1Solutions. We are here to help you grow your business.
