Dealing with Ecommerce Shopping Cart AbandonmentLast Updated: November 1, 2019
Did you know that 65% of all eCommerce shopping carts are abandoned at the checkout stage? As we have seen previously, a lot of this has to do with the online retailers lack of a proper eCommerce checkout strategy and consequent customer dissatisfaction with the checkout process.
Before we get any further into the detail of this, let’s take a ‘big picture’ pause and consider what Amazon CEO, Jeff Bezos, has to say about the secret to successful conversion in online retail:
“If you build a great experience, customers tell each other about that. Word of mouth is very powerful.”
There’s two things there that you need to think about very carefully. One is that even if you have an innovative online business, or a great product delivered by an eCommerce site, fundamentally, there is nothing different about online retail in pure business terms.
The other is that the opposite of Bezos’s statement is equally true. If you create a bad experience, customers will tell other people. So if your store—brick-and-mortar or eCommerce—is no good, people will not only stay away from it, they’ll tell others about their experience and maybe persuade them to stay away too!
That’s why we have decided to take another look at this area of eCommerce—the area of shopping cart abandonment—in the form of an infographic, which passes on easy tips to our clients and followers on how to reduce their levels of shopping card abandonment.
Its important to highlight that one area of eCommerce online retailers should really strive to change is the hidden costs in delivering products and/or services to potential customers. A large percentage of purchases are abandoned due to hidden costs.
You will not lose all these customers for good, however. The positive news is that these shoppers are showing an interest in your product or service in the first place. And they will most likely return. This is because many online shoppers bring products they are interested in to the check-out phase merely to see how much the final cost will be.
Only 1% of all online sales are performed by first-time buyers. Have you ever planned a trip abroad and priced your preferred destination with a given airline? You usually price the trip all the way to purchase/check-out because you want to see how much extra all the hidden fees – such as fuel surcharges, booking fees and so on – will be added to the final price.
Around 75% of all the online shoppers who abandon purchase at the check-out phase do so with the intention of returning. Only 25% of those who abandon do not return. Taking these figures together, what initially may seem like 65% purchase abandonment, is actually therefore 16% in the long run.
This leaves online retailers with a conversion rate of five out of six for every customer who adds to the Shopping Cart in the long run. They just may not make purchase the first time.
If you have any eCommerce queries, or want to create your eCommerce website, do not hesitate to contact AGENT Digital today.
Shopping Cart Abandonment – Infographic
Download this infographic.