Top Tips for Reducing Shopping Cart Abandonment
Things to consider during Ecommerce website development
It has been estimated that $18 billion is lost by companies every year due to cart abandonment. This year, statistics predict that goods worth more than $4 trillion will be abandoned. This is certainly a challenge for ecommerce stores. However, it should not be considered to be a rejection of the company’s value proposition. Instead, it must be thought of as an opportunity for engaging the customers again successfully.
Ecommerce web development Company that reduce their cart abandonments successful do so by customizing and personalizing the experiences provided at each stage of the customer journey. Here are a few steps by which a reduction in shopping cart abandonment can be brought about.
One of the biggest concerns for customers is the cost. Around 28% of potential customers end up abandoning their carts when they notice that the total given on the checkout page is higher. This usually happens when there is not enough transparency about the costs upfront. Fees such as shipping charges must be mentioned and shown to the customers before they reach the checkout page for this to happen.
In many cases, the customers simply forget their carts. In other cases, they are simply undecided about the orders. By reminding these customers about their carts, it can be possible to encourage sales. Leverage email marketing for these reminders. To improve conversions, you can also use incentives such as discounts, coupons or free shipping. As per statistics, 54% of customers will return to their shopping carts and complete the purchase when discounts are available.
Optional Account Creation
Creating an account is often a cumbersome process. It becomes all the more frustrating when the customer is forced to do so when they are making a purchase. As a result, it is one of the main reasons for cart abandonment. Speed up the checkout process by making the account creation an optional activity. This reduces the complexity and increases the chance of a sale. For increasing the account base, you can use social media logins to speed up the account creation process.
Multiple Payment Options
It is vital for an ecommerce store to offer different options for payments. Not all customers are comfortable purchasing their products with a credit card or even a debit card. Many actually prefer paying cash on delivery. Others prefer online payment systems like PayPal. By offering multiple options, you ensure that all customers can use the one they are comfortable with so that the transaction can be completed. Otherwise, they will simply abandon their shopping carts.
Wish List Options
It is certainly possible that the customer is highly interested in making the purchase but not at that specific moment. If they end up adding the item to the cart and then leave the site, you will have cart abandonment. Simply avoid this situation altogether by adding wish list options to the site. This way, interested customers can save the products they want without adding them to the cart.
Reducing shopping cart abandonment requires careful evaluation of the customer experience and journey that can be implemented by iStudio Technologies, Ecommerce web development Company in Chennai. Identify pain points and implement the necessary fixes to decrease abandonment rates and increase sales.