There’s no denying that the demand for online shopping has continued to climb since the start of the pandemic. While many businesses have resumed in-store operations, consumers continue to find convenience in shopping online. Ecommerce businesses are finding ways to improve and keep up with the evolving customer shopping experience - specifically when it comes to converting online orders.
Cart abandonment occurs when an online shopper visits a site, adds an item to their cart, and exits the site before completing a purchase. Studies conducted by the Baymard Institute show the average cart abandonment rate is a staggering 69.80% - while 58.6% of U.S. shoppers have abandoned carts because they were just browsing.
“the average cart abandonment rate is a staggering 69.80%”
Here’s a few stand-out reasons shoppers are abandoning their carts at checkout:
- 48% said extra costs are too high (shipping, tax, fees, etc.)
- 24% said the site wanted them to create an account
- 22% said delivery time was too slow
- 17% said too long / complicated checkout process
- 12% said returns policy wasn’t satisfactory
- 9% said there weren’t enough payment methods
While abandoned cart rates can be discouraging, they are preventable. You’ve succeeded in getting shoppers to your site and adding items to their cart, now you need to get them across the finish line at checkout. Below are strategies to to give shoppers the confidence to complete their checkout:
- Be upfront about costs and fees
- Create a seamless checkout process
- Offer as many payment options as possible
- Allow customers to have payment flexibility
- Recover lost sales with abandoned cart email automation
Cart conversion rates are generally within control of the business and its operations. It can seem overwhelming to address the list of disruptions all at once, but with proper research and strategy, implementing effective cart abandonment practices can result in happier customers and improved site conversion rates.