There’s nothing more frustrating than cart abandonment. Shoppers visit a site, add items to their cart and then… poof! They’re gone without purchasing their items.
Shopping cart abandonment is a true problem for most online retailers. In fact, according to data collected by SaleCycle, in the third quarter of 2018, the average cart abandonment rate for retail sites was a whopping 75.8 percent. Why are so many online shoppers leaving before checking out? We’ll tell you, and how to keep them.
Top 5 Reasons for Cart Abandonment
One of the best things about shopping online is that it is the ultimate window-shopping experience. Most shoppers love to browse, and should they see something they like, they can simply add the item to their shopping cart, so they don’t forget about it. The Internet makes it easier than ever to peruse.
But, while there’s not much that can be done about window-shoppers, there are other reasons why carts go abandoned that you can do something about. According to a recent survey by Baymard, the most common reasons for shopping cart abandonment include:
- The extra costs are too high: 55 percent of cart abandonments
- Had to create an account before checking out: 34 percent of cart abandonments
- Overly complex checking out process: 26 percent of cart abandonments
- Total final cost was hidden: 21 percent of cart abandonments
- Security concerns: 17 percent of cart abandonments
4 Cart Abandonment Solutions That Work
If you want to reduce cart abandonments on your site (and who doesn’t?), here are four proven tips, tricks and solutions that can help.
1: Simplicity
For starters, nothing should interrupt the purchasing process. The checkout process should be simple, short and seamless. Start by offering express checkout options like Google Pay and PayPal. Though remember not all shoppers will prefer those payment methods. For everyone else, do not distract your shoppers by asking them to create an account before they checkout. Instead, ask that they create an account after they have completed their purchase and suggest it in a way that focuses on why they might want to create an account, i.e. to check out even faster next time, get special deals. Keeping your checkout process simple can help reduce cart abandonments by as much as 26 percent.
2: Transparency
Transparency is also important for keeping cart abandonment rates low. Keep things like security, policies, shipping costs, returns and refund information and extra costs clearly visible. This will boost your site’s trustworthiness and negates any last-minute surprises, making it easier for your visitors to buy from you. Check out this example that covers security, shipping, returns and a guarantee on one screen.
3: Promotions Availability
It’s estimated that over 85 percent of shoppers use coupons and many of them will pause their checkout process to go look for them. A very powerful and effective way to keep shoppers moving through the sales funnel is to include a link to your promotions and deals in their shopping cart. Not only does this keep shoppers on your site, it also leads to happier shoppers by eliminating the frustration that so commonly comes with broken codes from thirds party sites. Based on Thrive’s clients using our Smart Button tool, this simple solution alone reduces cart abandonment rates by 8.12 percent.
4: Positive & Clear Messaging
A simple test of different CTA’s and messaging during the checkout process can increase checkout rates. Encourage your shoppers to complete their sale by using positive text cues like “Beautiful Choice” or “Great Picks”. Copy that subtly helps reinforce to the shopper that they are making a good buying decision can increase checkout rates by over 30 percent.
Reduce Cart Abandonment Once and For All
There’s nothing you can do to stop all your shoppers from abandoning their carts, but there are things you can do to reduce some cart abandonment. The recommendations made above are proven effective and they can help you increase your revenue through higher sales conversions. Thrive’s Smart Button is designed to keep the majority (remember 85%!) of shoppers on your site and help them navigate toward a positive purchasing decision. It’s an easy and effective way to keep your promotions and deals in front of your shoppers’ eyes and right where they can be taken advantage of. If you want to see your cart abandonment rates decline or you want to learn more about the ways Smart Button can help your sales, then contact Thrive today and speak to one of our e-commerce advisors.