One of the major challenges eCommerce companies face today is cart abandonment. It is a persistent problem that significantly impacts the overall performance and success of an online store. Ecommerce shopping cart abandonment occurs when a shopper adds items to their virtual cart, browses the website, and then exits the site without finalizing their purchase. This situation is all too common in the world of eCommerce, and the statistics are alarming. So, why is shopping cart abandonment a problem for retailers? With the average abandonment rate hovering around 70%, businesses are losing a substantial portion of potential revenue and customers.
So, what can you do to minimize this phenomenon in your business?
In this article, we will examine key aspects of the online shopping experience and share steps you can take to optimize your eCommerce store so that customers follow through with their purchases. We will also suggest various marketing strategies for you to implement to re-engage lost customers and encourage them to complete their transactions.
Read on to discover how to optimize your online shopping experience, retain valuable customers, boost your revenue, and secure your eCommerce business’s long-term success.
1. Complicated checkout process
One of the main reasons for shopping cart abandonment is the long and confusing checkout process. Many eCommerce companies want to add numerous fields in the checkout process to try to get to know their customers better. However, client expectations differ – they prefer quick and easy shopping. Therefore, the first thing you can do is minimize form elements and only ask for necessary information. Moreover, to save even more time, try to minimize typing tasks with features such as drop-down menus or auto-filling forms. It’s worth considering offering a guest checkout, which would save the amount of time it takes to create an account on your website.
Another way to make the checkout process more user-friendly is by streamlining site navigation. Try to reduce the number of screens from initiation to completion to help your clients save time and guarantee a better shopping experience. Inform them about how many steps are left to finalize the transaction and allow them to effortlessly return to each step if they want to make any changes. You can also consider providing clear instructions to guide customers through the process.
A good practice that your customers will surely appreciate is the auto-save capability for abandoned carts. This solution ensures that customers do not lo