Is your checkout process better than Apple’s, Amazon’s or Ebay’s? Online shopping is a part of everyday customer experience and having an optimised checkout process can ease the customer’s purchase journey, and ensure they don’t abandon their shopping cart before completing their purchase. According to a study conducted by Baymard Institute, the average shopping cart abandonment rate is 68.53%. An abandoned shopping cart should be seen as part of the increasingly complex series of steps a consumer might take before finally making a purchase and a strong indicator of consumer interest in a product or a brand. Let’s take a look at the reasons for shopping cart abandonment and combat them with appropriate solutions.
Encouraging customers to register is a good idea, but not at the cost of losing potential sales. It’s a proven barrier to conversions when customers are forced to register before they complete an order. A solution here would be giving your customers the option to make the purchase as a guest or even allow them to register with other accounts, like Amazon, where all essential information is already stored. Also, according to data from Forrester Research, 43% of the traffic sent to a shopping cart comes through social media. This is almost half of the people who visit websites for the purpose of making a purchase. Adding a social media login option to make an order or to register, greatly simplifies the customer experience.
Be Upfront About Prices and Maintain Transparency
56% of customers abandon their shopping cart because of hidden fees or an unexpected rise in costs that arise when consumers move through the online checkout process. Additionally, 44% of customers abandon their shopping cart because of high shipping rates.
The best way to eliminate any hidden fees is to add a sales tax calculator to the actual shopping cart. If you do it up front, then people know what to expect.
According to a study by UPS made in 2014, free shipping continues to be the most preferred option when checking out online, however it is not the only valued option. Seeing the estimated delivery date and shipping costs early in the process are also important.
Offer Multiple Payment Options
Offer as much convenience to your customers as possible during checkout. Don’t force them to use only one payment option like credit card payment as it will encourage your customer to leave the page without completing the purchase. Third-party online payment providers are a huge deal for online shopping; you should offer support for services like PayPal and Google Wallet. A lot of them even offer one-click checkout options for existing customers, which reinforces the ease of payment, and makes impulse purchases more likely to happen.
Offer Exclusive Deals and Design Personalised Product Suggestions
Include exclusive deals to online customers, and display them right in the open for everyone to see. Give your customers a reason to make an online purchase with you, instead of going to visit a competitor’s site. For example, ‘customers who bought X…, also bought Y’ is Amazon’s signature feature. Amazon also has a system codenamed ‘Goldbox’ which is a cross-sell and awareness raising tool. Items are discounted to encourage purchases in new categories. Another great practice to your reduce shopping cart abandonment rate is to use retargeting, where retailers retarget shoppers with emails after they’ve left a website. Initial emails, sent three hours after a consumer abandons a cart, average a 40% open rate and a 20% click-through rate.
Optimise the Information About the Items
Your customers will need to review their basket before clicking that final button that will complete their order to ensure they’ve actually got what they came for. Item titles alone aren’t the best method for helping your visitors to quickly scan over the basket, so make sure to add images and product specifications. It’s also recommended to include details like how many items are left in stock, offer an option to update the items within the checkout process rather than going back, or a button for a ‘wishlist’ in case the customer prefers to buy the items later.
Make sure to use a robust web analytics package like mporium insights to ensure you have all possible data. Best practice when it comes to reducing your shopping cart abandonment rate is to keep the process simple, easy to navigate, and informative. Give your consumers an opportunity to make easy choices, and provide all essential information about the products they are buying. By following these guidelines you’ll create a seamless customer shopping experience.