The customer adds products to the cart, and so the checkout process begins, right? But then something happens that nobody wants, not even the customer himself: he ends up leaving the site with items in his cart. Does this look familiar? This is the infamous “abandoned cart” phenomenon.
To better contextualize, it is important to know that abandonment rates occur more frequently on mobile devices, occurring more frequently during weekend days, such as Friday, Saturday and Sunday, and that the tourism sector is what has the highest cart abandonment rates on the market.
In this article, we will understand more about the great villain of e-commerces around the world and how to act, in a strategic way, to reduce the abandoned cart as much as possible.
Why is cart abandonment the biggest problem in e-commerce?
Think for a moment: how much investment does it take to attract a shopper to your website, motivate them to add a product to their cart? However, instead of completing the purchase, the user abandons it. In this case, the investment cycle needs to start again, in order to attract once again a new buyer, or even a buyer through retargeting tools . It's a considerable investment if there's no conversion, isn't it?
If the buyer does not return to your site and complete the purchase, abandoned items are potential lost revenue that could complete your billing. However, you can (and should) optimize your e-commerce site to prevent high abandoned cart costs .
What can we do to prevent abandoned carts?
We list some strategies to reduce abandoned cart events, see below:
1 – Offer free shipping
According to the Statista report, shipping cost is one of the top reasons for cart abandonment. Offer the buyer a form of free shipping and spread the word from the beginning of the purchase journey.
2 – Offer fast delivery
When the shopper starts the checkout process and realizes that there is no fast shipping option, they may consider the competition for offering this feature.
3 – Offers Guest Checkout – buy as a guest
Creating an account at checkout may annoy some shoppers due to the delay in checkout. If possible, offer the option to buy as a visitor.
4 – Have a simplified checkout
Having a complicated checkout process can lead to cart abandonment. If the shopper doesn't understand where they need to interact to edit cart items or checkout, it will likely increase the cart abandonment rate.
5 - Coupon Field
If the coupon application field is in the final checkout phase, it can convey the feeling that the customer will be paying a lot, without a discount. This can be resolved by automatically applying coupons if the code is emailed to buyers. Another option is to offer a discount coupon for the next purchase if the current abandoned cart is converted.
Field examples for coupon
6 - Security seals
Concerns related to the payment data entry step is one of the reasons for cart abandonment. If the buyer doesn't feel completely safe, this increases the abandonment rate. Add some stamps like:
– SSL certificate
– Site shield seals
– Reviews and credibility seals as e-bit
7 – Offer live chat
It is common for buyers to have questions about products, shipping and returns that could affect their purchase decision. If the e-commerce does not offer an express communication channel such as a live chat, it can cause a high abandonment rate.
8 - Social proof
Opinions of other buyers affect the purchase decision of future buyers. Social proof complements decision making and encourages the consumer at the checkout stage, some suggestions:
– Photos of consumers with the product
9 – Optimize the exchange policy
If you can, offer to return the product with free shipping and also extend the period for exchange. This way, you can avoid the abandonment rate for products with a high average ticket. Here are some suggestions:
– 30 days for exchange
– Free return shipping
– Late or incomplete delivery compensation for discount or discount coupon
– Detailed information regarding the returns policy
10 – Multiple payment options
If the buyer is unable to complete the purchase with their preferred payment method, they will likely withdraw from the purchase. Providing a variety of payment options prevents the cart abandonment rate. Below are some examples:
– Multiple cards
– Google Pay
– Apple Pay
– Samsung Pay
11 – Include progress bar on checkout pages
Be clear and show the customer where they are in the checkout process so you can eliminate potential concerns the customer may have. This ensures that the buyer knows that the process is in progress, giving a forecast of how many steps must be taken to complete the purchase. Avoid redundancies, making it easier for the customer to understand.
12 – Include product thumbnails
When we buy something in the digital environment, we like to see what we are actually buying. By adding a product image to the checkout process, you help the consumer remember what they are buying, eliminating any distractions or hesitations.
Everyone who reached the finalization stage is potential customers, so analyze the percentage of lost sales on your website, apply strategies that your e-commerce does not yet have following our tips and follow the evolution of the conversion percentage to prove efficiency.
Here at Acarui, we have a team specialized in E-commerce Strategies, totally dedicated to improving the performance of your operation. Contact us and understand the best strategic plan for your brand!