Right when you were about to sell a product, the customer suddenly decides to leave his online shopping cart and cancel his purchase. Shopping cart abandonment is one of the worst things that could happen to an online business. Irrespective of the adjustments and technological progress you had to take just to accommodate online consumers, this unfortunate eCommerce phenomenon continues to persist. Some businesses have it worse than others now that people have become more critical of their online shopping experience. Baymard Institute, a firm dedicated to the research of internet usability, calculated the average rate of shopping cart abandonment using 29 separate studies. They found that almost 70 percent of their customers didn’t push through with the purchase and abandoned their carts. That’s a significantly high number.
Why It Happens Online shoppers have their reasons for bailing on their purchase, with 81 percent saying that free shipping was a huge factor. In a joint study by United Parcel Service (UPS) and comScore, 50 percent of buyers left their carts because their order value didn’t qualify for free shipping. As much as 60 percent abandoned their carts after shipping costs were tallied, and they were charged more than what they were willing to pay. Other buyers say they were saving the cart for later, since they were not ready to pay. Some claim to have been distracted and completely forgot about their cart. Buyers also complain that their preferred payment method was not available. And then there are customers who simply wanted to compare the prices of different e-sellers. How to Make Your Online Buyers Buy Tip #1: Requiring online visitors to sign up for an account is the first step to decreasing the incidence of shopping cart abandonment. It limits your shopping carts to online buyers who are truly interested in making a purchase. Additionally, this gives you the chance to reach customers who opt for email notifications – just in case they ditched their cart. You can use follow-up emails to remind them of their carts, inform them about discounts and coupon giveaways, or recommend products they may be interested in. Tip #2: While you can’t control shipment costs, you can reduce the prices of products you sell to reduce the total amount. One way of doing this is to offer discounts and coupons. You may also use retargeting ads to lure them back. This advertising strategy involves showing them ads of products they are interested in through various online mediums including Facebook, Twitter, YouTube, and other major websites you can imagine. By cutting off prices, you are encouraging customers to finalize a purchase they left behind, or perhaps buy more of your products and qualify for free shipment!
Tip #3: Another solution for this dilemma is to recommend related products to customers. For example, a customer who has a tobacco pipe in his shopping cart may want to buy a pipe stand or some special tobacco blend. These recommendations can appear on pages where you sell related products, or you can notify interested buyers through email. Tip #4: Adapting to mobile platforms may also be a good idea, considering that 84 percent of online consumers use mobile devices such as smartphones and tablets to shop. Tip #5: Lastly, you should be capable of accepting payment methods which are most convenient to your customer database. Examples of which are bank transfers, online payment methods, and cash or check payments.