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One of the biggest challenges e-commerce sites face is how to reduce cart abandonment. Indeed, cart abandonment is a complex situation because it negatively impacts sales and profitability.
Reducing abandoned carts is a top priority for e-commerce sites around the world. Thus, we will discuss how to reduce cart abandonment. In particular, we will focus on 12 simple tips to help reduce cart abandonment in your e-commerce store.
Cart abandonment refers to customers adding items to their cart but not following through on the purchase. In other words, cart abandonment occurs when customers leave items in their shopping cart and walk away.
According to some estimates, cart abandonment costs businesses $18 billion annually. That figure is certainly nothing to sneeze at. Missing out on so much revenue is a significant consideration for virtually all e-commerce sites. Therefore, reducing cart abandonment must become a top priority for your business.
Please keep in mind that cart abandonment will never go away entirely. So, the goal ought to be to bring your e-commerce site’s cart abandonment rate as far down as possible. In doing so, you can boost your e-commerce site revenue and profitability.
To calculate your store’s cart abandonment rate, divide the total number of completed orders by the number of carts created in your store.
Once you have this number, subtract it from one, then multiply by 100 to give a percentage.
For example, assume your store has 500 completed orders and 800 completed carts.
500 / 800 = 0.625
1 – 0.625 = 0.375
0.375 x 100 = 37.5%
Therefore, your store’s cart abandonment rate is 37.5%.
Overall, the average cart abandonment rate sits just shy of 70% (69.57%). Please note that estimates vary according to various sources. Some of the most conservative estimates place the average cart abandonment rate in the upper 50% mark. In contrast, some of the more aggressive estimates place average cart abandonment rates in the 80% range.
How can you quantify that in dollar terms?
Think about how much your customers spend on average. For example, suppose your customers spend $10 on average at your shop. If three customers complete purchases, you make $30. However, you lose $70 because seven did not follow through.
Can you see how much money you’re leaving on the table due to cart abandonment?
Based on these figures, finding ways to reduce cart abandonment rates must become your e-commerce site’s top priority.
Now, you might be thinking, what is a good cart abandonment for my e-commerce site?
That’s a great question!
The answer depends on who you ask. Typically, industry experts indicate that a cart abandonment at or below 40% is a good target to shoot for. Nevertheless, a simple answer might simply be to reduce cart abandonment rates as much as you can.
Even if your e-commerce site is doing well, why would you want to leave money on the table? The fact of the matter is that we cannot afford to leave anything on the table. As such, bringing down your e-commerce site’s cart abandonment rate is a must.
When you fail to address cart abandonment, you miss out on improving the following aspects:
Failing to reduce cart abandonment is not an option. But fear not, we have the answer to reducing abandoned carts. So, let’s get into the causes of cart abandonment.
According to Baymard, there are various causes for cart abandonment. In particular, we would like to highlight five:
Please note that these causes are just the tip of the iceberg. Nevertheless, they are a telltale sign of issues within an e-commerce site’s overall performance. Therefore, addressing these issues is crucial to reduce abandoned carts on Shopify or on any other e-commerce platform.
Considering how important it is to reduce cart abandonment, finding the best ways to reduce cart abandonment rates requires a careful study of the best strategies. In this section, you will find twelve easy but powerful strategies you can use to cut down on your cart abandonment rate.
A call to action is a message used to compel users to act. In other words, this message aims to encourage customers to do something. Calls to action don’t always compel customers to purchase something. They can entice customers to click on an ad, review an offer or complete the checkout process.
Here is a great example of a call to action:
Poo-Pourri gets it right because they display the product with a “quick add” button below. They take the guesswork out of adding the product to your cart. If you like it, you add it. Effective calls to action use two or three words to entice customers to follow through. Plus, the 10% discount tag adds a nice touch.
Since slow delivery can be a deal killer, offering various delivery options can eliminate this situation. Your e-commerce site can offer customers options from same-day delivery (usually at an additional cost) to standard free delivery. Ultimately, customers can choose the option that best fits their budget and needs.
Here is a great example:
When you add a product to the cart, you automatically get the option of free standard delivery. However, a note below indicates that there are faster delivery options.
So, why not display these options right away?
The fact is that most people don’t want to pay extra, but if they really want to get the item sooner, they’ll click on the faster options. Plus, the banner atop asking customers to spend more to qualify for free delivery is a nice upselling strategy.
Since creating an account can be a hassle for some customers, offering a guest checkout option is a great alternative. In fact, your e-commerce site can offer the option to create an account or a guest checkout to reduce cart abandonment.
Here is a great example:
Apple makes it easy for customers to purchase. While they encourage you to create an account (or log in to your existing one), you can use the guest checkout feature. This feature allows customers to buy and forget about creating an account.
Please note that if you purchase an Apple product, they’ll ask you to create an account anyway. So, you’ll get around to creating an account eventually. For now, Apple removes the barrier customers face when needing to create an account.
Please remember that the number one cause of cart abandonment is an extra cost. Therefore, you must be upfront about your products’ costs. In doing so, your transparency allows customers to decide whether they want your product. However, springing additional costs on them at checkout can quickly cause them to leave their carts unattended.
Here is a great example of clear costs:
First of all, we used the guest checkout feature on Zara Home’s US website. It worked perfectly fine! Second, Zara home is clear about delivery options and shipping costs. Here, what you see is what you get.
Zara does not try to hide how much it will cost you to get their products. Being upfront about delivery times and costs is a wonderful way of eliminating two clear barriers to reducing cart abandonment rates.
As customers navigate the checkout process, they may be unsure about the total costs, shipping times, or other product information. Thus, displaying a cart summary as customers make their way through the entire checkout process is a great idea.
Here is a great take on this strategy:
Reebok displays the items in your cart along with a helpful order summary. This strategy is highly effective because it removes any uncertainty that may cause abandoned carts.
Any time you can facilitate decision-making for your customers, you know you have a head start. So, take the time to ensure your e-commerce site’s cart displays a helpful order summary.
Tracking your site’s cart abandonment rates is crucial to determine how effective your cart recovery strategies are. In particular, using tools such as Google Analytics can help track how well your efforts are paying off. Keeping a close eye on your metrics helps you tweak your strategies to make sense.
Here is a great example of Google Analytics at work:
Google Analytics is a comprehensive tool you can use to track virtually every aspect of your e-commerce site’s performance as part of your sales funnel. It is a cost-effective tool that doesn’t require any complex setup.
Google Analytics easily integrates with various e-commerce platforms such as Shopify WooCommerce or Magento. If you want to take the guesswork out of your metrics process, consider Google Analytics.
Customers commonly abandon carts due to complex checkout processes. So, why not make it easy for customers to complete the checkout process. In particular, reducing the information they need to include (especially on the guest checkout page) can go a long way toward reducing cart abandonment.
Here is a great way to facilitate the checkout process:
Nike gets it right by making it easy to complete the information needed to finish the checkout process. After all, why make it hard for your customers to follow through on a purchase? Also, we used the guest checkout feature. It works very well. Nike makes it easy to buy exactly what you want!
When customers have trouble checking out, they abandon carts. So, making it easy for customers to get help is a great idea to reduce cart abandonment. Giving customers multiple support channels makes sense.
Let’s take a look at a great example of customer support channels:
Jomashop offers customers two main ways to communicate. First, customers can use the automated chat function for orders and shipping information queries. Customers can also call customer service to get help.
Whenever possible, add as many communication channels as possible for your customers to communicate with your shop. In doing so, you can greatly reduce cart abandonment.
Popups can be a great tool to help you reduce cart abandonment. In particular, popups appear at specific points, such as when customers leave the cart or checkout page. An effective popup message should display a call to action that compels customers to follow through on their purchases.
Here is a great example:
This example shows how the site compels customers to return to the checkout page when they leave. This handy reminder acts as a call to action and a soft barrier to any issues customers may have.
Please note the carefully placed message on the popup. It uses a clear psychological strategy. This strategy highlights scarcity, a powerful psychological tool that compels customers to act quickly.
What happens when customers need to leave the checkout but plan to follow through later? The worst thing your site can do is wipe out a customer’s cart when they leave. The best thing your site can do is save it for later. Saving a customer’s cart for later is a great way to boost cart recovery.
Here is a great example for your consideration:
On this checkout page, we can see a link at the bottom indicating “save for later.” This option allows customers to save their products for later purchases.
After all, there are many reasons why a customer could choose not to follow through on a purchase but follow through for later. Giving customers the option to save their cart gives your e-commerce site a fighting chance to recover an abandoned cart.
Customers have a legitimate concern about payment security. So, it’s a great move for your site to offer as many security assurances as possible. Displaying messages about your e-commerce site’s security goes a long way toward giving customers peace of mind.
Adding trust marks to your site helps customers see that you take cybersecurity seriously. Please note that your customers want to see what steps your e-commerce is taking to ensure that payment information and personal data are safe from potential hacks.
So, take the time to add trust marks to help customers see your site’s steps to ensure industry-standard cybersecurity best practices.
When customers have limited payment options, they are likely to abandon their carts. As a result, offering various payment options can go a long way toward reducing cart abandonment.
Here is a great example:
In this example, you can see a wide array of payment options. Customers can choose the payment option that makes the most sense to them. As a result, offering various payment options removes any objections or barriers that customers may have.
While it may take some additional configuration to your e-commerce site’s settings, removing payment barriers ensures your customers have everything they need to follow through on their purchases.
Reducing cart abandonment is possible thanks to the twelve steps we have outlined. In addition to those, PickyStory offers several features that can help combat cart abandonment in your store.
Firstly, PickyStory displays a message in the cart showing customers how much they have saved by purchasing product bundles and deals. By showing customers what they are saving, they are more likely to feel as though they are getting a great deal, and continue with their purchase.
In addition, you can display additional deals to customers once they get to the cart page. For example, a customer may have a pair of jeans in their cart, and they are debating whether or not to go ahead with the purchase.
When they navigate to the cart page, you can display a special offer where the customer is eligible to purchase a second pair of jeans for 20% off. This cart upsell may be the persuasion they need to go ahead with the purchase in the first place.
Ignoring cart abandonment means you’re leaving money on the table. With PickyStory and the cart recovery tips outlined above, you can give your e-commerce site the boost it needs to get to the next level.
PickyStory helps e-commerce merchants to collect hidden revenue by selling products together. PickyStory offers a variety of deals like Bundle Products, Combo Products, Bundle Builder, Kits, Looks, and Coupons.
© 2023 PickyStory
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