Based on recent research, an average shopping cart abandonment rate is more than 68% across the web. This means that business owners are missing out on a huge chunk of potential sales.
Cart abandonment is the biggest challenge businesses are facing now. Let’s understand this with a simple and clean example.
Someone visits your website, checks your online products, add the product to your cart, and gets as far as the checkout page, and then suddenly after distracting by one thing or another, decides to abandon the site. it’s hurtful, right.
So in simple words, cart abandonment is a process in which a shopper leaves the website without actually finishing the checkout page process.
Thousands of thousands of online businesses are suffering from this and losing their money. Here are 5 reasons why website visitors are abandoning your website.
1. Expensive shipping rate
This is the most annoying thing when someone needs to buy an item online. Hundreds of people can’t make it to the checkout process just because the shipping cost is much higher than what they expected.
Lots of customers are fine with the actual cost of the item, but when they suddenly see the shipping price on the cart page, they change their minds. Therefore they get diverted to other eCommerce sites to search for the same product with less shipping cost.
Is this is the case with you, here is the solution. The first and obvious thing is to reduce your product shipping cost. OR you can try some grouping products in which you can offer them “free-shipping” options with multiple products purchased.
2. Force them to create an account
More than 22% of customers abandon an eCommerce website just because they are required to create an account. Seriously, why forcing them to register an account? If they like your brand value and your products ( & services) they will not get hesitated to re-visit your website in the future.
Creating an account is truly a very big commitment that takes too much time and lots of online customers don’t want to invest their time and energy doing this. So always keep it simple and offer them a guest checkout option instead.
3. No Payment Security
This is another headache for customers, more than 15% of customers abandon a site due to payment security doubts. Most of the users are aware of hacking, cyber-attacks, stolen card information process, etc.
Here are some suggestions for you.
– Install a valid SSL certificate. Yes, sometimes a green padlock is the no. 1 thing a buyer sees on the website. So it is very important to install an SSL on an e-commerce website.
SSL stands for secure socket layer. It is an encryption-based internet security protocol that encrypts a user’s sensitive data just like credit card details, account login details, social security numbers, authentication information, etc.
– Installing a secured sign image (or banner) also helps. for example “We understand your privacy, and your information is 100% secure.”
4. Complicated checkout page
For an eCommerce website, a checkout page is the most crucial page of the entire website. This is the page that mostly defines whether you’ll earn some benefits or not. So it is very important to simplify this page. Here are some recommendations:
– Try one-page checkout (less & useful options)
– Make it user-friendly
– Mobile optimization is very important
– Simplified shipping & taxes options
– Keep the form options shorter
– No surprise charges
5. Lack of payment options
Don’t depend on PayPal only, give your customers some more modes of payment options. Hundreds of customers abandon their carts just because the eCommerce website doesn’t provide them options to checkout with their favorite payment gateway. There are several different methods that people use to buy online items.
So, it’s always a good idea to provide them with a good number of options to make the transaction. Lots of businesses only have a “Buy with PayPal” option, but the reality is some of the customers do not have a PayPal account and few of them want to make one. So it’s a smart idea to provide them the option to make the transaction using credit cards.
If you are concerned about the cart abandonment rate, we recommend you implement all these methods in your shopping store. If you have any e-commerce projects in mind, give us a call.