Dear Readers, Fans, Students, Followers and Entrepreneurs:
We are addressing a very serious problem with a lot of professional data and hard work. Please like, comment and share this article with your friends. Today topic is very special for all those who have online store on any platform. Many people asked that we are sending a lot of traffic on our website (Online store) but people are not converting so what can be the problem. My article will hopefully help you and would be very near to your solution.
Understanding cart abandonment!
What is Cart Abandonment?
To answer the question, let’s start with a definition of cart abandonment from Webopedia:
“Abandonment is an ecommerce term used to describe a visitor on a web page who leaves that page before completing the desired action. Examples of abandonment include shopping cart abandonment, referring to visitors who add items to their online shopping cart, but exit without completing the purchase.”
Cart, or basket, abandonment may be the most obvious, but there are several types of abandonment across different sectors
Booking Abandonment
Booking abandonment refers to abandonment within the travel industry, where a customer has begun to book a flight, hotel or other travel product but left without completing a purchase.
Unlike retail abandonment, customers may have selected dates they are interested in, as well as the specific travel product.
Abandonment rates on travel sites are typically higher than those in retail and the overall average.
Travel products like flights and holidays are often major purchases for shoppers, and many tend to spend time researching their options, finding the best deals and checking with other travelers. They may begin to book several times, often across different sites, before finally making a booking.
Another reason for higher abandonment rates in travel is the relative complexity of the booking process.
It can take many steps, and plenty of time, to select holidays, extras like seats and insurance, and enter details for all passengers. A long and relatively complex process can mean more people bail out before booking.
Form Abandonment
This most commonly refers to abandoning forms for quotes, subscriptions, and financial products, though of course any online purchase requires some level of form completion.
Long forms tend to be an issue here. Lots of detail is needed, and it can take a while to complete some financial applications.
Forms on finance sites often have to be long, as plenty of detail is required.
So, for example, a car insurance quote can take time, making it more likely that some customers will leave the site before finishing the form.
Sites can try to avoid and reduce form abandonment with good desktop and mobile form design strategies which makes it easier for users to complete forms without becoming too frustrated.
Browse Abandonment
Browse abandonment refers to those shoppers who browse a site, viewing category pages and ecommerce products pages on site, but leave without placing items in their basket or making a purchase.
Browse abandonment tends to occur more often during the busiest retail months of the year. Some awesome Facts:
Using data from our 2022 Ecommerce Stats Report, we look at traffic and buying patterns from online shoppers. We also suggest ways you can improve your conversion rate optimization strategy.
In 2019 Mondays and Thursdays were the most popular days of the week for online shopping and the peak time of day for ecommerce occurred between 8pm and 9pm.
2020 tells a different story, the pandemic changed the way we live our lives, which has had a direct impact on buying habits and online shopping behaviors.
In 2020 Wednesdays and Thursdays were the best days for ecommerce sales and the peak hour for ecommerce was between 10am and 11am with a second peak at 8pm and 9pm.
Even though these browsers may not go on to complete a purchase, they are expressing an interest in the products they viewed, and might be persuaded to return to checkout. This is when a conversion rate optimization solution can help you convert more browsers into buyers.
The stats below show that 43.8% browse product pages on retail sites but don’t go on to add items to their shopping carts or make a purchase on that visit.
The Latest Cart Abandonment Stats
Our latest cart abandonment statistics from 2021 puts the global average cart abandonment rate at 80.68% across all sectors.
Cart abandonment rates vary by sector, as sites have very different purchase processes and customer behavior.
For example, fashion purchases are often faster and easier (and relatively low-price) so customers don’t take so much time to make a decision. Hence lower abandonment rates. Below is our latest 2021 cart abandonment chart split up by different categories within each sector
Why Shoppers Abandon Carts
The reasons will vary by sector, and our abandonment survey data can provide some of the answers to this question.
For the retail sector, these were the most common reasons for abandonment:
- 34% were ‘just looking’ i.e. not ready to buy.
- 23% had an issue with shipping.
- 18% wanted to compare prices.
- 15% decided to buy in-store instead.
- 6% abandoned due to a lack of payment options.
- 4% experienced a technical issue.
The reasons for booking abandonment are similar, though research and price comparison are more commonly cited:
- 39% wanted to do some more research.
- 37% felt the price was too high, or wanted to compare prices.
- 21% needed to check with other travelers.
- 13% felt the booking process was too long or the checkout too complicated.
- 9% experienced technical issues.
- 7% had an issue with payment or felt there weren’t enough options.
10 ways how brands can reduce cart abandonment?
1 - Helping Customers to Research Products
Some shoppers just aren’t ready to buy. The research process can take time, but the key is to provide the information that shoppers need, and to do what you can to keep your site in mind.
For example, travel sites can provide destination guides to help visitors decide if a particular holiday is suitable for them, and sites can provide impartial ecommerce consumer reviews from other shoppers to help them to decide, which can be a great tool to increase your social proof.
Or, if customers simply aren’t ready, offering to save their booking details or cart for later is a great way to keep your brand and products front of mind.
2 - Shipping, Returns and Payment Options
These details matter to shoppers. If they want a dress for the weekend, but your site doesn’t offer next day delivery, then they’ll go elsewhere.
Likewise, if their preferred payment option isn’t available, or returns are not easy and convenient, that may be enough to abandon a purchase.
Details like this matter to shoppers, and retailers need to match or out-perform their competitors in areas like this.
In the case of delivery, customers are looking a mixture of speed, convenience and price. Some shoppers may be prepared to wait a few days if delivery is free, or much cheaper.
Others are prepared to pay a premium for faster and more tailored delivery options like next day or nominated time slots.
The ideal ecommerce delivery offering would provide various options to customers, allowing them to choose the best one for them.
Here, Schuh offers seven different options for shoppers, which should cover most preferences.
An easy and clear returns process can help ensure that customers are happy to make a purchase, as they know they’ll be able to return them if they need to.
Returns can be an unwanted cost for retailers, so it’s important to do as much as possible to reduce returns rates. Good product information, great images and extras like product video can help by ensuring that customers know what they’re getting.
However, retailers will never avoid all returns, and an easy returns process can ensure that people are happy to buy again.
3 - Form Optimization
Form-filling is a necessary part of buying online, and it’s an area where shoppers can easily become frustrated.
To minimize form abandonment, sites need to make them as easy as possible to complete. This means things like providing shortcuts for users (such as address lookup tools), helping customers through the trickier form fields, and monitoring analytics data for common issues which trip customers up.
4 - Use Relevant and Timely On-site Messaging
When a customer is on-site and about to abandon, sometimes all they need is a little more information or reassurance to complete the transaction.
Messages shown on-site at the point of abandonment can offer help, offer to save cart details and remind customers later, or perhaps provide a little nudge to prompt customers to complete a purchase.
5 - Improve the Checkout Process
A well-designed checkout process and – crucially – one which works well on mobile as well as desktop is vital.
Well-designed forms matter, but sites can also reduce friction for shoppers in other ways.
For example, providing guest checkout removes one barrier for users, while details like defaulting to the appropriate keypad for touchscreen users makes checkout forms easier to complete.
6 - Cart Abandonment Emails
Once shoppers have abandoned a purchase, that needn’t be the end of the story because the next chapter is to find the best time to send an abandoned cart email.
A well-timed cart abandonment email or cart abandonment SMS message, sent within an hour or two of the customer leaving a purchase, can persuade them to come back and complete the booking or purchase.
7 - Email Reminders and Callbacks
If customers aren’t ready to buy, or perhaps need some more information before committing to a purchase, then there are options.
One is to offer to email customers with cart contents or booking details so they can be come back to the site when they’re ready.
Another option, useful when customers need some help, is to offer to call customers that need some extra help. Prompts can be served up to customers when they’re about to abandon – when they’re heading for the browser back button for example.
Timely help from customer services can be enough to answer customer questions and help them through the purchase process.
8 - Abandonment Surveys
9 - Provide more payment options
10 - Do not ask too many information - One or two click check out
Why have we added cart abandonment?
The sad truth is that most of your customers will leave their cart without completing the purchase. With an average rate of around 70%, shopping cart abandonment is the biggest enemy of every eCommerce store owner.
Thankfully, emails sent to customers who have added products to their cart, but failed to check out, have proven to be super effective, with an average open rate of around 45%!
So, the answer is simple:
Sending cart recovery emails is a remarkably effective sales recovery tactic.
How does it work?
Available on Business and Premium plans only, cart abandonment tool allows you to create email campaigns that target customers who haven’t finalized the purchase. With the new feature you can:
- Set a time period for sending a cart recovery email
- Give a discount on the products in the cart
- Customize your cart abandonment email
Furthermore, we’ve created a ready-made email draft for you to start maximizing your sales immediately!
To launch a cart abandonment campaign, go to the Marketing section on your store’s dashboard and pick Cart abandonment.
Once you’re there, you’ll see your store’s abandoned cart statistics (1), campaign tab (2), and analytics tab (3).
Now, you can start setting up your cart abandonment campaign by clicking Configure:
1. From a drop-down menu, you can choose a time period, after which the email reminder will be sent to the customers who have left your store without checking out.
Pro tip: Don’t wait for days to send recovery emails to cart abandoners. You have the best chance to win them back if you send emails around 30 minutes after they’ve visited your store.
2. Give your customers an additional incentive to complete the purchase by adding the discount to the whole shopping cart.
3. By clicking on Edit template, you’ll be able to change the subject and the body of the email template, add images, links, and template tags. Once you’re happy with the result, you can send a test email to yourself to look at it from the customer’s perspective.
Over to you
Don’t leave this for later—test it out on your store now! And don’t forget to let us know how our new tool has worked out for you in the comments below.
But if you’re still on a Starter plan—upgrade now to reduce cart abandonment and increase revenue! CLICK HERE
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Wishing you all the best of 2022. See you next week.
Regards and Love
Shehzad Qureshi
Entrepreneur & Group CEO
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