What is an abandoned shopping cart?
What is the scale of this phenomenon? The Polish Internet continues to benefit from a report prepared by the Chamber of Electronic Economy -. Abandoned e-basket. Why do consumers abandon online shopping? There is a lot of useful information there that is still relevant today, but for the sake of completeness we also used data provided by the Baymard Institute. The compilations prepared by the institute include statistics collected from various sources.
The data collected by IGE speaks plainly – only one in three shopping carts is paid at once! Thus, in about 66% of cases there is an abandonment of purchases started. And Baymard Institute data shows a basket abandonment rate of 68-79% in 2022! Customers return to some of the purchases they started, but most will not find a happy ending.
Of course, there is no expectation that any solutions will completely eliminate the problem of abandoned shopping carts – refraining from finalizing a purchase right away will not simply disappear; customers will still need time to think, and a thorough search of competitors’ offers may lead them to a better deal. The data collected in the reports can help us learn about the causes and find ways.
What are the reasons for shopping cart abandonment?
So why do customers abandon their shopping carts? The most important reasons
Other reasons for cart abandonment
Other reasons why customers do not decide to buy right away include:
- Lack of trust in the store – lack of reviews or posting fake reviews on the store’s website and product pages is a simple way to lose customer trust. Encourage customers to leave their reviews in exchange for loyalty points or discounts, and your store’s credibility will increase! Interestingly, data released by the Finances Online portal, based on research by EYStudios, Baymard Institute and Econsultancy, indicates that negative reviews are an important reason for shopping cart abandonment for up to 92% of consumers!
- Long delivery times – The boom in dropshipping has led to customers often paying close attention to delivery times. Don’t promise shipping in 24 hours if you don’t actually have the goods in stock. Instant availability of goods and fast shipping is an important factor in online shopping.
- The need to create an account in the store – the inability to store as a guest is an annoying obstacle, especially for people who are sure to store at a particular store once. Maybe someone wants to buy a gift for a hobbyist, and they themselves are not interested in the products you sell? In this case, a one-time sale will be better than an attempt to attract a returning customer that ends in obvious failure.
- Lack of a site tailored to mobile devices – More and more shopping is being done on the go using mobile apps. For obvious reasons, not every store can afford a dedicated app (for many customers, by the way, the need to shop in an app is a reason to abandon their purchase intention), so it is worthwhile to ensure that the website is tailored for display on mobile devices.
Remember, too, that many customers go to online store websites with no purchase intent! They simply compare current prices or check product availability. As many as 53% of people who have made an online purchase go to store websites without a specific purchase in mind.
How to reduce the rate of abandoned shopping carts?
We’ve listed the ways below in random order – to decide which one is particularly necessary for your business, first analyze the reasons why customers abandon the shopping cart in your store, and then start implementing solutions that address the selected problems.
What are some proven ways to deal with abandoned shopping carts?
- More forms of payment to choose from – making payment via electronic transfer available is the bare minimum; also, payment by card is no longer as popular as it once was. Today, customers are increasingly using the convenience of BLIK, PayPal, and paying with smartphones (GooglePay and ApplePay). Finalizing contracts with payment providers is demanding, but it has the dual benefit of making it easier for customers to buy and increasing your store’s credibility.
- Implement deferred payments – the BNPL (Buy Now Pay Later) mechanism is an extremely popular solution that in many cases can determine whether a customer decides to complete a transaction. Deferred payment allows customers to pay for purchases later, up to several months after the order is placed. Opt for integration with PragmaGO and offer your business customers not only deferred payments, but also purchases on installments! Check out the details: https: //pragmago.tech/
- Simplify the buying process – show customers which stage of the ordering process they are at through a visual element – such as a progress bar. Also make sure that there are several stages, and that each stage is necessary. Reduce the number of consents to the minimum necessary and make sure that ordering forms meet legal requirements.
- Ability to purchase without registration – sometimes a customer knows they are making a one-time purchase at your store. If you nevertheless require him to register, and therefore take the time to fill in all the fields, enter a password and click a link in the registration confirmation email, you have to expect that the would-be customer will look for a store where he can buy the same thing without creating an account.
- Free shipping from a certain amount – free shipping is the ultimate reason for many people to complete payment. This is always a nice piece of information, and can be a buying incentive. All you have to do is set the amount from which you will offer free delivery to customers. You can be sure that if a customer has £280 worth of products in his shopping cart, but from £300 onward he would get free shipping, he will still find something he needs while getting free delivery.
- Social proof – real reviews of your store and products is another way to increase your company’s credibility. Allow customers to post reviews and photos of products they’ve purchased, and if you’re having trouble getting reviews, try offering loyalty program points, product discounts or a gift for their next order instead.
- Proven e-commerce platform – using established and popular e-commerce platforms can be a good option, especially for a small business. Customers who want to shop at your online store will easily find themselves in familiar surroundings, as the look of the store will be similar to others where they store regularly. This should make it easier for them to take advantage of your offer.
- Transparent return and complaint policies – be fair to your customers. Provide them with free returns and set a specific (in accordance with the statutory) deadline for processing complaints.
- No hidden costs – when the customer starts shopping: browsing the offer, looking for promotions, and finally putting products in the shopping cart, he wants to keep control over how much he spends. You can make it easier for him by presenting the current value of the shopping cart every time he adds another product, and even displaying a shopping cart summary in the corner of the screen. Avoid presenting net prices – unless you are running a B2B store. Clearly communicate shipping costs, especially in the context of bulky goods.
- Plurality of delivery options – consumers appreciate the ability to choose. A courier is not always the most convenient option, especially for people who are away from home most of the day. Also provide them with the opportunity to pick up the parcel at a parcel machine or other pick-up points – this can also determine the happy ending of the transaction.
Best of luck in continuing to run your store!