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What is Cart Abandonment?

BUSINESS TIPS  |  June 30, 2021

An eCommerce website is an excellent means to reach your target audience. It allows you to provide potential customers with the information that can persuade them to make a purchase. Nevertheless, website visits don’t always translate to a sale.

Shopping cart abandonment is the biggest obstacle that comes in between an eCommerce store and a converted customer.

 

What is Shopping Cart Abandonment?

At its core, shopping cart abandonment refers to when a customer clicks out of a web page before completing a transaction. For eCommerce retailers, abandonment is a vital metric to monitor to gauge the effectiveness of a website or online store.

On average, 81% of potential online shoppers abandon their carts before checking out. Reasons vary from person to person. However, according to research, a confusing user experience and hefty shipping costs are amongst the top reasons for this damning phenomenon.

 

How to Combat Shopping Cart Abandonment

Online stores lose more than 75% of their business to shopping cart abandonment. It is a serious concern that requires serious solutions. Below are a few ways to prevent cart abandonment and bolster website conversions:

  • Transparency is Key

Shipping remains to be a sour subject when it comes to eCommerce. It is a known fact that shoppers expect free shipping from all retailers. However, aside from shipping costs, they hate being confronted with unexpected additional fees even more. As a result, 28% of consumers click out of a website without purchasing because of other expenses.

Not all eCommerce companies can afford to provide their customers with free shipping. If you can’t offer free delivery without affecting your profit margins, it is best to be upfront with the shipping costs from the get-go.

  • Build Trust with the Customer

Shopping online has reached peak popularity over the last few years. Nevertheless, there are still shoppers that are wary about surrendering their payment information online. With the prevalence of online fraud, their fears aren’t entirely unfounded.

One easy way to build trust with your customer is through your transaction forms. Include trustworthy images like security logos to put potential customers at ease. This is a small step that provides significant effects.

  • Include a Progress Indicator

A progress indicator provides customers a guide to the checkout process. It indicates where they are in the transaction. While this image might seem innocuous, customers are often urged to purchase with the sight of a nearly completed transaction.

  • Offer Multiple Payment Options

In the Philippines, not everyone has a credit card. The country has one of the lowest credit card penetration in the world. Therefore, allowing payments only through a line of credit can prevent you from reaching more potential customers.

It is crucial to offer more than one payment option. Locally, cash on delivery is the most preferred method of payment.

Every customer is different. However, there remain to be similarities to the shopping habits and preferences of most consumers. Identifying these intersections in eCommerce preferences can help minimize instances of cart abandonment.

 

We at Dojo believe that your website plays a crucial role in the success of your business. Provide the best user experience to your customers today! Contact us at Dojo to learn more about how we can transform your business.