For e-commerce businesses, reducing shopping cart abandonment rates is one of the key challenges faced. An increase in shopping cart abandonment rate not only directly affects users’ sales, profits, and online shopping experience. In the article below, Optimal Agency will suggest an effective how to reduce shopping cart abandonment rate for e-commerce websites. Please refer now!
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What is the cart abandonment rate?
Cart abandonment is a situation where a customer puts a product in the cart but does not go through the steps of ordering, paying, and completing the transaction. Cart abandonment seriously affects business performance.
In online business, shopping cart abandonment is a problem that easily arises and is quite difficult for marketers to find a solution to. The problem of page exits, reduced click rates on channels, or shopping cart abandonment,… directly affects business sales. Besides, it also reflects a bad shopping experience for customers.
=>Cart Abandonment Rate or Cart Abandonment Rate represents the % of customers who added products to the cart but did not make a purchase or payment to complete the shopping process. This situation is common for online businesses. Therefore, knowing how to reduce the shopping cart abandonment rate for e-commerce websites is essential.
Formula to calculate cart abandonment rate = 1 – (Total number of completed orders / Total number of carts created) x 100%
Why is the shopping cart abandonment rate on sales websites high?
There are many reasons why the shopping cart abandonment rate is high, especially in the e-commerce sector:
The product price is too high
When shopping online, customers can easily search and compare product prices in different stores. So, if the product price on your website is too high and does not match the product quality. At that time, customers will abandon the shopping cart and search, and buy products in another store with a better price.
Shipping costs are high and lead times are long
Having to pay a shipping fee is something every customer does not want. Combined with long delivery times, too long waiting times are also a big obstacle. This makes customers impatient and unwilling to continue ordering. This is also one of the reasons why the shopping cart abandonment rate on e-commerce websites increases.
Complicated payment process
When deciding to purchase, customers always want to make payments quickly so they can receive the goods as soon as possible. Therefore, if it takes too long for lengthy forms or complicated payment steps, customers will get frustrated and want to abandon their shopping carts. It would help if you found a way to reduce the cart abandonment rate for your e-commerce website.
Warranty policy lacks transparency
If your e-commerce store does not provide a clear warranty policy, customers will not feel secure when shopping. Especially when the warranty and return policy is poor, customers are worried that when the product is defective, they will not be able to return it or receive a warranty. This increases cart abandonment rates.
Poor security
Many customers abandon the shopping process because they feel unsafe. Because they worry that their personal information such as address, name, and phone number,… can be used for bad purposes such as fraud. This is the reason why customers do not buy products at your booth.
There are too few payment options
Each customer usually uses the main payment method that is considered most convenient and suitable. If your sales website has few payment options, it will hinder customers and cause them to abandon the idea of purchasing.
Unclear in fees
The ambiguity between costs is applied by many e-commerce businesses to attract more customers’ attention to the product. Adding other additional fees makes customers feel dissatisfied and decide to abandon their shopping cart.
Required to register an account
Many sales websites require customers to register for an account when shopping. This is something customers don’t like because they have to provide personal information. If you have to register a new account to make a purchase, many people give up the shopping process.
How to reduce shopping cart abandonment rate for e-commerce websites
High cart abandonment rates affect the sales and profits of businesses. Measures to reduce these rates are actively sought to improve business efficiency. Below are some suggestions we provide to address cart abandonment issues. Take a look!
Show cart everywhere
Having to go back or switch to another page to find the cart or check items can be frustrating for customers. When designing an e-commerce website, you should pay attention to placing the cart where customers can easily see it.
Displaying the cart in multiple locations encourages customers to consider the items they want to purchase, making it easier for them to proceed to payment and checkout. This is a way to prompt customers to complete orders quickly, increasing the success rate of orders.
Optimize costs and shipping processes
Many customers abandon their carts due to high shipping costs when shopping online. For online businesses, optimizing costs is essential. You should apply low shipping fees and ensure reasonable delivery times to satisfy customers and provide the best shopping experience.
Moreover, offering free shipping for large orders can attract users. This promotes the ordering process, and payment, and achieves the best business efficiency.
Offer multiple payment options
Diversifying payment methods helps customers complete transactions smoothly, and conveniently, and save time. The more payment options customers have, the faster the transaction process becomes.
E-commerce websites should integrate various payment methods for customers, including debit cards, credit cards, e-wallets, etc. Implementing this method to reduce cart abandonment rates for e-commerce websites can increase sales and profits.
Highlight discounted products, promotions
This is a way to stimulate customer shopping needs and reduce cart abandonment rates. You can apply some methods such as displaying the original price and discounted price of products. Limiting the time for promotions encourages customers to make purchases quickly. Place discounted products, and promotions in prominent positions on the website to attract customer attention.
Transparent pricing for orders
According to many studies, customers abandon their carts because they have to pay additional fees at checkout. To reduce cart abandonment rates, you should be transparent about pricing and display the final price when customers add items to their carts. Also, support and minimize external surcharges to make customers satisfied with their purchases.
Simplify the checkout process
The simpler the checkout process, the better, as not all customers are patient enough to complete complex requirements. Therefore, shorten the checkout process to make customers feel comfortable shopping. This helps increase the number of successful orders and improve sales for businesses.
Increase positive product reviews
Previous customer reviews are a way to reduce cart abandonment rates. Providing a product review section allows buyers to read honest reviews about the product, promoting quick purchasing behavior. If your product often receives positive reviews, customers will make purchasing decisions quickly. You can use social media advertising to attract more positive reviews.
Do not require account registration
Although the information when customers register an account can provide you with a vast and valuable data source for marketing activities, account registration on e-commerce websites should be optional for customers. This creates a great, comfortable shopping experience for customers. You can encourage customers to register accounts by offering special utilities or incentives for new members.
Invest in quality images and content
Content and product images on e-commerce websites must be carefully invested in to help customers understand more about your products and services. This builds trust with customers and increases the likelihood of completing transactions. You can provide concise, clear, easy-to-understand content with attractive language, realistic images, and accurate descriptions of products,…
Send reminders about unpaid products
Customers may abandon their carts because they are not ready to make purchases at the current time. Sending reminders about unpaid products is an effective way to reduce cart abandonment rates. Customers reminded of items of interest will encourage them to complete transactions. You can send reminders about unpaid products via email, and SMS messages,…
Above are some how to reduce shopping cart abandonment rate for e-commerce websites that we have shared. We hope this information will help you increase sales and profits. However, reducing cart abandonment rates is a long-term process that requires monitoring and significant efforts from businesses.
Please see more:
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Frequently asked questions
There are many reasons why customers abandon shopping carts, but the most common comes from high additional costs. It is the unexpected costs when customers add items to their cart that cause customers to rethink their purchases. Some customers will even add items to their cart just to see the final total. Once they see the added fees, they will be less likely to continue.
Cart abandonment is when a shopper adds an item to their cart while browsing but then leaves the website or app without completing the purchase. Aborted payment is when the customer has started the payment process but does not complete the transaction.
