Running an eCommerce or mCommerce business might seem like a simple task superficially. But, when you start selling products online, you will realize that you need to dedicate some time to develop effective marketing strategies that will attract potential customers to your eCommerce website or Shopify mobile application.
Let’s assume that you invested money and time into developing these strategies and they paid off:
This is what’s called Shopping Cart Abandonment. Let’s look at a few statistics about cart abandonment which will help you understand why it is a problem for eCommerce &mCommerce retailers.
Yes, it is bad but no entirely!
When many customers start abandoning their shopping cart on your eCommerce mobile app or online store then it is a clear sign of:
However, do note that not every customer abandons the cart due to the aforementioned reasons. Customers have become smart due to the availability of various price comparison tools, discount coupons, flash sales and other offers. Customers are also spending more time researching the best places to buy from, prices, product variations & other options too.
So, in some cases, your customers might abandon the cart if they are reviewing their options, checking multiple brands, assessing the pros & cons of the product before actually purchasing the product.
So, these reasons imply that not every customer who abandons your cart does so out because of some negative points of your store. However, whatever the case maybe, you should always strive to offer a seamless user experience that will eventually translate to more sales, a higher conversion rate and minimal cart abandonments.
According to a leading report from PayPal, around 27% of customers would abandon the cart if the checkout process is confusing or long. So, if the checkout process is long then better to start trimming it down so that you can encourage more customers to complete the checkout process as soon as possible.
Pro-tip: Simplify & streamline the checkout process in such as way that customers don’t need to enter a don’t need to end a ton of information on each step. Try adding the one-click ordering feature wherein you encourage the customer to save all their basic information like shipping/billing address, contact number, name and other crucial information beforehand.
Integrating guest checkout into your eCommerce website/mobile application is perhaps one of the best ways to minimize shopping cart abandonment.
The idea is to make the checkout process as easy as possible. Traditionally, customers are asked to create an account on the online store or the mobile application to complete the checkout process.
Did you know? A recent study has suggested that an average person has around 118 accounts created across multiple online stores or other portals. So, creating one more account seems like a huge headache for your customer.
This process takes time and sometimes the requirement of creating an account discourages customers to shop from that particular online store/mobile app.
This not only increases shopping cart abandonment but can also drive your customers away from your store. That is why integrating guest checkout can prove to be a boon when it comes to reducing shopping cart abandonment.
Everyday there are many data breaches and credit card frauds that happen in the digital space. This makes customers wary of online shopping. This is another reason which might be increasing cart abandonments in your Ecommerce store.
So, start by adding trust symbols or logos which will generate trust among your customers. Ensure that these trust symbols are clearly visible during the payment method. You can also add logos of familiar payment methods like Mastercard, Visa & American Express. These will be identified by customers who will then proceed to complete the checkout process.
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