An Insight Into Why Customers Abandon Carts
Every e-commerce team would probably concur that one of the biggest barriers preventing them from reaching sales goals is shopping cart abandonment. It seems like every few months, companies release survey findings outlining the main causes of cart abandonment.
These reports consistently list the same problems. Why then do these problems persist? In this article, we examine some of the most pressing problems, consider their causes, and discuss some possible solutions.
What causes cart abandonment and what does that mean?
Customers abandon their shopping carts when they exit an online store without finishing their purchase. The ratio of customers who make a purchase to those who abandon their carts is known as the cart abandonment rate.
The problem of cart abandonment exists. According to estimates, cart abandonment costs the typical store over 75% of its sales, as we mentioned in the introduction. More thorough studies reveal that cart abandonment costs some industries as much as 83.6% of potential sales.
Conversion rates are harmed, and customer acquisition costs are raised. The good news is that you can significantly enhance customer experience on your website and reduce shopping cart abandonment by implementing a number of clever strategies for online stores.
One of the most common complaints from online shoppers is about hidden fees that only show up at the checkout. People who encounter hidden fees may feel deceived and disappointed, which may lead them to abandon the cart before completing their purchase and reduce their trust in your company.
Required to register for an account
Customers are aware that creating an account increases the likelihood that they will place repeat orders, making it simpler to keep up a relationship with them. Let’s face it, those are two excellent arguments. How then can a store satisfy customer demand without degrading the user experience, raising the bounce rate, and raising cart abandonment?
Give people a reason to sign up for an account
Give users a compelling reason to sign up for an account if you’re not going to force them to do so (which, let’s be clear, you shouldn’t). What benefit does opening an account provide for them? Does it allow them to access restricted content, receive a discount, or track their order? Make sure to clearly communicate these advantages.
Concerns over security
When it comes to security, we’re our own worst enemy. That’s because we’re so comfortable with digital that we forget others are not. For most, it might seem like madness, but there are still many people out there who are hesitant about buying online. They have read about the rise of credit card fraud and online scams, and it’s left them nervous. So how can they be reassured?
For first-time visitors, it’s critical that an e-commerce site appears reliable and secure. Customers will be hesitant to divulge their personal information and credit card information on a website they don’t trust. Customers will likely leave an e-commerce site without making a purchase if there is no solid proof of reliability. As a result, the main source of social proof today is online reviews, which also directly affect sales. A brand can build significant trust and credibility from a steady stream of positive reviews.
In light of the above, analysis, shopping cart abandonment is a widespread issue that ecommerce experts encounter globally. If not resolved, it may have a negative effect on conversion rates and sales. The good news is that owners can recapture abandoned carts and regain control over conversions by using a few straightforward UX (User Experience) design techniques. It all comes down to streamlining your customers’ path to purchase, creating a secure checkout process, and making sure your customers have a convenient shopping experience.
We at eKomi can assist online merchants in obtaining favourable Google Reviews and promoting companies’ online presence. Please feel free to request a consultation so that we can assist in giving your company better online recognition in the near future.