Abandoned carts are one of the worst nightmares for any online retailer. Attracting potential customers to your site, having them select their desired items, add them to the cart, only to have it all abandoned at the last step is a complete loss. In the world of online shopping, shopping cart abandonment is not that surprising. Many customers change their minds when they see the final price and opt to withdraw instead of completing the purchase. Unlike offline stores where customers can be personally catered and nudged to make a purchase, online retailers have to employ other strategies to ensure a lower rate of cart abandonment. Getting customers to your online store, in itself is a difficult process, so you surely don’t want to lose them at the checkout process.
Shopping cart abandonment refers to the process when customers add items to their shopping cart but leave before finishing their purchase. Cart abandonment rate is an important metric for business owners to consider, as it directly correlates to sales figures and conversion rates.
However, not all hope is lost. There are plenty of strategies that you can employ to increase the usability of the site with regards to the site design, product presentation, UI/UX, content, and communication with customers. All of these aspects determine the overall customer experience and have a huge role in consumers finally completing the purchase.
Using a combination of strategies can help in significantly reducing the rate of shopping cart abandonment. Read to know the tactics that you can employ for your store:
1. Keep the payment process seamless
The payment experience of any eCommerce store should be simple, non-cluttered, fast, and easy. Keeping too many elements on the payment page may deter consumers from buying the products. For existing users, auto-complete details like shipping address, and show them their preferred payment method on top of the page to reduce hassle. Also, ensure that you have trustworthy payment gateway software. Consumers are wary of sharing their details online, which is why it is essential to integrate the top payment gateways to your store. Also, provide more than one payment option like Credit/Debit cards, Paypal, Amazon Pay, etc. Focus on a simplified process that is smart and saves the time of consumers and requires minimum steps.