If you own an ecommerce site that operates on the World Wide Web, or even if you have a brick and mortar business that’s also trying to make sales online, you need to know about shopping cart abandonment and what it can mean for your business. The shopping cart abandonment rate for your business represents the percentage of customers that place items into the shopping cart on your site and then leave without finishing the purchase. Current estimates indicate that 65.23 percent of Internet shoppers abandon their shopping carts without checking out. These are seven of the most common reasons why this happens:
1) High shipping charges. People shop online in an effort to save money over what local stores have to offer and because it’s convenient. If you have shipping charges that make the overall costs of doing business with you higher than working with the small business down the road, most customers are going to go with that small business instead.
2) Confusing and complex checkout. At the end of the day you can count on human nature to go the path of least resistance. If you make your checkout process any more complicated than it has to be you’re going to miss out on some sales as a result.
3) Still browsing. Sometimes, believe it or not, people place items in their carts and then move on to look for other items to buy.
4) Requires too much account information. This is especially true if your site requires membership, joining or something similar in order to complete the transaction. People are increasingly wary about sharing private information—no matter how great the deal is. It’s one thing to ask for an email address, but anything beyond that may be pushing it. The good news is that you can make adjustments until you find something you’re comfortable with and that’s getting you the sales you want.
5) Confusing information regarding delivery times. This is something that many people view as a red flag. They want to do business on a website that provides information that’s accurate and crystal clear.
6) Lack of customer product reviews. We live in the day of social media and people really do want to see some sort of social confirmation that people have purchased products from you and had a good experience with your site and the products they’ve purchased.
7) Slow website. In the day of lightning fast download speeds, no one has the patience for sites that take too long to load. Keep your site light and fast moving if you want to slow the rate of shopping cart abandonment.
It really is the little things that can make a huge difference in the way sales are made. These small changes can do a lot to lower your shopping cart abandonment rate significantly.