What is Shopping Cart Abandonment Rate?
Shopping cart abandonment rate is a metric that measures the percentage of online shoppers who add items to their virtual shopping cart, but fail to complete their purchase. This metric can be used to analyse the customer experience and identify areas where improvements can be made in order to increase sales.
Causes of Shopping Cart Abandonment
There are several factors that can lead to shopping cart abandonment, including:
- Complex checkout process
- High shipping costs
- Website errors
- Lack of payment options
- Lack of trust in the store
- Lack of customer support
- High cost of product
- Limited discounts or offers
- Difficult return policy
How to Reduce Shopping Cart Abandonment Rate
While shopping cart abandonment is an unavoidable part of the online shopping experience, there are several strategies that can be used to reduce the rate of abandonment. These include:
- Simplify the checkout process – make sure the checkout process is as simple and straightforward as possible. Eliminate any unnecessary steps, and make sure the customer can complete the process quickly and easily.
- Offer free shipping – customers are often put off by high shipping costs, so offering free shipping can be an effective way to reduce cart abandonment.
- Provide payment options – customers want to be able to choose from a variety of payment options. Make sure you have a range of payment options available, such as credit cards, PayPal, and even cryptocurrency.
- Increase customer trust – customers need to trust your store before they will make a purchase. Make sure you have a clear privacy policy and a secure checkout process.
- Offer customer support – make sure customers have access to customer support if they need help or have any questions. This can help to increase customer trust and reduce the rate of abandonment.
Shopping cart abandonment rate is an important metric for online stores, and reducing the rate of abandonment can have a significant impact on sales. By making sure your checkout process is simple and straightforward, offering free shipping, providing a range of payment options, increasing customer trust, and offering customer support, you can reduce the rate of abandonment and boost your sales.
Conclusion
Shopping cart abandonment rate is an important metric that can help online stores to identify areas where improvements can be made to increase sales. By making changes to the checkout process, providing payment options, increasing customer trust, and offering customer support, online stores can reduce their rate of abandonment and maximize their sales.
References
- https://www.shopify.com/encyclopedia/shopping-cart-abandonment-rate
- https://www.shopify.com/blog/shopping-cart-abandonment
- https://www.salesforce.com/blog/2020/04/what-is-shopping-cart-abandonment-rate.html
- https://www.oberlo.com/blog/shopping-cart-abandonment-rate