Cart abandonment is one of the most infuriating problems with online businesses. A Baymer Institute study says that the average online cart abandonment rate is 69%. This means nearly seven in ten customers fill their carts only to abandon it at the checkout. The rise of online shopping has indeed given people the flexibility and convenience to sit at home and buy items; however, the downside to this freedom is that it sometimes ends up overwhelming the customers and confusing them.
Despite proper tactics in place, most customers will choose to abandon the cart at the end. So is there a solution to this eternal problem of indecisive customers? Convincing the customer and establishing credibility is one of the most fundamental things you must tackle. Once you have their trust, make sure that the checkout process is as effortless and easy as possible.
Any online business cannot escape the nightmare of cart abandonment. We cannot completely solve this problem, but we can learn to curb it. Let us take a look at some statistics of cart abandonment.
Cart Abandonment Statistics
Though cart abandonment is impossible to prevent, if you somehow manage to reduce the cart abandonment rate on your e-commerce website, your conversion rate will increase. Even the smallest increase can get you decent revenue.
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Since cart abandonment has been higher than ever, a recent study shows that 88% of people abandon their carts before conversion. This means that from out of every 10 customers you get, 8-9 will leave their carts. If you are getting 1000 conversions monthly, you face a major problem from the 4100 customers who have abandoned their carts.
But if you can change something about your website that reduces cart abandonment by 10%, you will easily get 300-400 extra purchases per month. Here are a few cart abandonment statistics according to Coversion’s data:
Purchase completion rates on desktops and tablets are 13%, whereas the completion rate on a mobile phone is only 8.5%. This means that customers who are using their desktop and tablets are more likely to complete their payment than customers using mobile phones.
Shopping carts abandonment rates are very high on weekends. On Friday, Saturday and Sunday, customers are more likely to abandon their carts.
Of all the e-commerce businesses, the travel sector has one of the highest abandonment rates.
Here are 20 easy methods to reduce cart abandonment:
1. Build Credibility on the Transaction Page
The transaction form is one of the most important tools in building the trust of your customers. The form is where customers give their personal information. Card and account details are something very personal to a customer. To convince the customer to finish the transaction, you must build credibility and safety around your transaction page.
Add trust ques and security logos, and images on the transaction form that reassures the customer. Make sure your transaction page has credible logos that are widely recognized and are popularly synonymous with safety forums like the “Norton Secured”, etc.
2. Reduce shipping costs
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High shipping costs are another major reason why carts are abandoned. High handling costs, shipping costs, and taxes are the primary and most common reasons customers abandon carts. Today, because of major e-commerce companies like Amazon, free shipping has become one reason why people choose to leave their carts and not go through with the purchase.
Try reducing shipping costs or provide free shipping from time to time. If you are currently unable to do that, then be very clear about your shipping details with your customer from the very beginning. If need be, provide inbuilt tools that help them calculate overall costs.
3. Use social proofs and positive reviews
Another way of keeping your customers from getting cold feet is to use the power of positive reviews and social proof. Customers are more likely to follow through with their purchase if they are reassured that they have made the right choice. This can be achieved by placing positive reviews and product ratings on the checkout page.
A Bizrate report said that a customer reads an average of one review before abandoning the cart. This is where you can leverage the customer to leave the cart or purchase the product. With social proof and customer reviews, there is a much higher probability of buying your product.
4. Keep it Simple
Simplicity is a crucial factor that affects conversion significantly. The whole point of an e-commerce retail store is to make shopping more comfortable and less stressful. Prioritize navigation on your site. Invest in a good developer to ensure a quick and easy way to shop in your store.
If your customers have even the slightest of inconvenience and confusion on your site, they are very likely to abandon their carts. Make sure that your site is fundamental and is as confusion-free as possible.
5. Make sure the check-out process is not complicated
Complicated and long check-out procedures are another leading problem of cart abandonment. According to a cart abandonment analysis done by Baymard Institute, 26% of shoppers abandon carts only because of the site’s complication.
Ensure that the check-out process on your page does not cross 3-5 steps; if you can make it even lesser, then go for it, but keep it as low as you can.
6. Give the Customer Clear Progress Indications
Visual representation and progress indicators are an excellent contribution to reduce cart abandonment. Try installing a fun and aesthetic progress indicator that constantly updates and increases as the customer continues to check-out. This visual aid gives them a feeling of progress.
The goal is to keep the customers engaged until the transaction forms. Once the user is in the momentum of progress, the user ends up purchasing the commodity.
7. Create Massively Engaging and Powerful Product Pages
People often forget how influencing and powerful aesthetic and pleasing images are. You can use engaging and aesthetic images of products to keep the customers a little occupied. Big companies like Nike, Adidas, and Puma always have amazing and inspiring photos on their websites.
We can take a page out of their books; use high-quality interactive product images that are always displayed as soon as the customer has put it in the cart. Till the transaction page, make sure that the product image is always in front of the customers’ eyes. This makes it unlikely for the customer to forget about the product.
8. Offer Multiple Payment Options
With a diverse number of payment options available on the global market today, sticking to one payment option can be a big problem for your e-commerce business. You want your customers to have the most effortless and easy shopping experience, but if you do everything right and only have one payment option, then you might be putting your business in jeopardy.
Since customers have expanded beyond the credit card and have diversified into a wide range of online banks and payment methods, consider picking the most used methods like PayPal, Amazon Pay, Google Wallet, and cryptocurrency, and implementing them on your business site. Offering more payment options eradicates a potential reason for your customers to abandon their carts.
9. Give your customers a “Save For Later” option
Many online customers who fill up carts do not purchase the product at the moment but use the cart as a wishlist. Customers who love your products but aren't able to invest in them at the moment could use a “Wishlist” or “Save for Later” option. Installing these options will make it easier for them to revisit your business and eventually purchase the products.
Wish Lists are a good way to lower cart abandonment rates and keep customers for longer periods; one solution contributes to two problems at once.
10. Use retargeting technology
Investing in retargeting tools can reduce cart abandonment. Send the customer an email as soon as the cart is abandoned. According to Conversion’s data cart abandonment analysis, a customer is only 30% likely to purchase from the abandoned cart within the first 20 minutes of abandoning. However, customers are about 65% more likely to buy between 3-12 hours. This is a golden window that you can easily capitalize on.
Exit-intent pop-up ads are also a good method to redirect the customers’ attention back to their cart. These ads pop up when a customer is about to leave the page or show signs of leaving the page.
11. Improve the load time of your website
One most important factor of a successful e-commerce website is the load time. If your site takes more than 5 seconds to load, users will leave before even getting to the checkout page. Make sure that you invest in optimizing every aspect of your site. Limiting ad network trackers, improving tags and plugins, and optimizing videos are good places to start.
12. Offer a return policy or a money-back guarantee
Customers are always hesitant and indecisive. The more you cater to their trust and keep reassuring prospects, the more your conversion rates will increase. Buyer remorse is a similar phenomenon that can occur even before purchasing the commodity. One of the best methods to overcome buyer remorse and hesitance is by offering a money-back guarantee or a return policy.
Once the customer is reassured that there is no place for a loss, they will be less likely to abandon the cart. Since there is a great deal of trust involved in the transaction, you have to assure them.
13. Be careful with CTA’s
Calls-to-action (CTA) is a common thing in the eCommerce marketplace. Many marketers who heavily invest in CTAs end up plummeting to the bottom of the search engines and product pages. The key to proper customer attention is subtle CTAs. Even when we talk about your site’s shopping cart or checkout page, try making it a little modest.
As good as CTAs are for business, they usually end up distracting the customer. Stick to the simple things, and try making your own new way to say “Buy Now”, “Check Out”, and Cart.
14. Limit cross-selling and recommendations on the checkout page
Try not to add too many recommendations on the checkout page. This ends up distracting the customer and even confusing them to abandon the cart. You can allow recommendations and cross-selling once the transaction is complete.
15. Keep track of your conversion rates
Every eCommerce company needs analytics software to keep track of customer behaviour data. Keeping track of this data can open up different opportunities to increase conversion rates by simply reviewing shoppers’ navigation. Target those pages that are losing the most traffic and improve them. This will not only help you with customer retention but will inevitably prevent cart abandonment.
Study popular pages and products and try using better and convenient methods to make them more accessible and credible.
16. Make sure your website is Mobile-Friendly
If your website is not compatible with phones, then you might not be receiving enough traffic in the first place. Almost all the search engines give preference to mobile-friendly sites. Many people do have mobile-friendly sites most of the time, but their checkout page will be so out of date and shady that people will instantly abandon their carts.
To prevent this from happening, you should always keep updating your layouts and features to make the checkout more accessible. You can also create a guest checkout option where customers can purchase the product without registering.
17. Have an interactive process
Customers love a good shopping experience. The interactive and conversational shopping experience will increase customers’ trust and make them more likely to checkout. Avoid making your site dull and form like. You can add pop-up messages like “We’re almost there”, “If you could fill this”.
18. Be vigilant when it comes to coupon codes
Coupon codes are an effective method to increase traffic, but they can be a double-edged sword sometimes. Having a coupon code section or box can sometimes turn against you. When customers complete their shopping without a coupon code, the box can force them to leave the site to look for one. So, be a little careful when it comes to coupon codes.
19. Try creating a one-click shopping experience
Amazon, Alibaba, and other eCommerce websites have made a fortune only from their one-click shopping buttons. One-clicks are a smart and effective manoeuvre for lesser cart abandonment rates. Try creating a one-click experience for your customer. Keep in mind that this can only be possible for members and not new customers. 
20. Add chat or phone support features
A simple chat support feature at the checkout can decrease cart abandonment rates a lot.
Many customers get stressed during the checkout, so it is good to have someone to ask their queries. This reassurance can increase your traffic and customer trust.
To sum it up
Cart abandonment is a never-ending battle against online retailers and customers. Tackling the cart abandonment rates is an eternal process, where companies can only improve with better research and technology. Regularly testing analytics or investing in innovative measures to curb cart abandonment can effectively increase conversion rates.