Walking through a grocery store and finding an abandoned shopping cart is always puzzling. Did the shopper feel ill? Did they have an emergency that caused them to leave? This same puzzling question occurs when an online shopper loads items in their online shopping cart and fails to complete the transaction. That’s also called an abandoned shopping cart.
According to 48 studies from Baymard Institute, almost 70% of all online shopping carts are abandoned. In perspective, only 3 out of every 10 carts complete a purchase. The abandoned carts represent $18 billion in lost sales that were so close to being a sale.
Common Abandonment Reasons
There are many reasons for cart abandonment. 58.6% of abandoned carts were caused because the shopper was window shopping with wishful thinking, but not ready to buy yet. The other reasons are caused by friction in the buying experience and we will focus on those reasons and some actions you can take to avoid it.
The Biggest Turn Offs
The biggest reason for abandoning a cart comes at check-out time when shoppers see shipping charges, taxes, and other fees they might not have expected. The second biggest reason is too many steps in the checkout process that frustrates shoppers. Shipping charges and delivery times play a big part in abandoned carts. The check-out process needs to be an easy experience. Asking for too much information to complete a simple one-time purchase is a huge turn off.
Other Turn Offs
Online customers want to know about returns and refund policies since they can’t see or try a product before purchasing. Make sure policies are prominent on your website to instill confidence. A liberal return policy and a large return window inspires trust. Not having a variety of payment options is another reason for abandonment. Apple Pay, Google Wallet, PayPal, and other digital wallets let customers make online purchases without providing credit card information. Offering interest-free Buy Now - Pay Later plans goes a long way toward stopping abandoned shopping carts and boosting sales.
Forced Account Creation.
Sometimes forcing the creation of an account for a one-time purchase can send potential customers running. Buyers might not want to disclose their email addresses or allow the company to store their credit card information if it is their first purchase.
Tips to Avoid Abandoned Carts
Use Discount or Promo Codes
Consider offering discount codes to first-time buyers or other promos for creating an account.
Target, Amazon, Walmart and Best Buy offer free, two-day shipping. Customers expect free shipping and fast shipping. Don’t lose a sale over slow, expensive shipments.
Use Progress Indicators
Progress indicators tell buyers how many more steps they must take to complete their purchase. They create a workflow in the customer’s mind and reduces the likelihood of someone abandoning their cart. It visually implies how far they have already come.
Store to Cart Navigation
Buyers should be able to toggle between their cart and the store with a single click, such as a “continue shopping” button so they can add more items to the cart.
Offer Chat Support.
Be there for customers who have questions. Live chat support allows a greater connection with your company. Pro Tip: Don’t offer chat unless you can respond instantaneously 24/7.
Implement Exit Pop-Up
An exit pop-up displays when a shopper attempts to navigate away from the page and convinces them to stay. Exit technology can track the movement of the shopper’s mouse. You can customize your messaging. Consider offering an incentive or discount code to lure them to completion.
Who is Aurora?
Aurora Payments is a network of professionals providing Merchants with reliable payment solutions for any industry and any environment. We help businesses increase efficiency and growth. Our proprietary technology provides One Ecosystem - One Contract - One Partner - One Aurora. As a Full-Service Provider (FSP), we have the all the products, services, solutions, and support Merchants need - all-in-one place. We’re an organization driven by a passion for helping our Merchants succeed. Interested in learning how you can eliminate credit card processing fees? Send us an email at firstname.lastname@example.org or call us at 833-287-6722. You’ll be saving money in no time!