Facing eCommerce Shopping Cart Abandonment? Read on!
As an eCommerce merchant, you will have become familiar with how frequent and agonizing the issue of shopping cart abandonment is. This issue is not limited to just a few eCommerce websites, but has become a universal problem. The problem of shopping cart abandonment spells woe for the eCommerce website owner as we will look into now.
According to a Business Insider report, around 71% of shopping carts are abandoned on a global basis prior to check out. Nearly $ 4 trillion of merchandise was abandoned in shopping carts in 2014. Though this news sounds depressing, around 63% of this voluminous merchandise can be recovered by savvy and discerning eCommerce merchants to improve your revenue as well as better your ROI and profitability. Hence, the two factors that will help you to tide over this crisis are as below:
1. How to prevent Shopping Cart Abandonment
- The first step towards preventing shopping cart abandonment is in being proactive. Among all other parameters, you should be first checking the site speed as this is directly proportional to increased incidents of shopping cart abandonment.
- Secondly, does your website provide a bug free shopping as well as a checkout experience? You can also utilize certain software that will simulate a checkout and notify you if the software encountered any bugs in the process.
- Finally, try and reckon if your website offers an enough simplified checkout process. This is one of the places in your website where a customer would possibly abandon the shopping cart during the checkout process. You could go in for either one page checkout or one step checkout, but you need to understand that a simplified checkout process is what most shoppers are looking out for while shopping at your web store.
2. How to recover abandonment shopping carts
- Given the fact that you have already implemented the above suggestions, there will be shopping carts that will abandoned nevertheless. This is because the customer might backtrack on the product that s/he has just placed in the shopping cart or might not be ready for shopping yet. Thus, s/he might just be making an attempt to purchase, but is not ready yet.
- So, once some one abandons their shopping cart while on your website, you need to implement a strategy and discover why they abandoned their shopping cart. A number of reasons exist why shopping carts can be abandoned, but our primary motive is to salvage as much sale as possible.
- Hence, various types of software exist wherein you can track the customer after the shopping cart has been abandoned and send him or her an automated email.
- You can also offer various discount offers or promotional schemes in order to win over the customer.
- You can also try and install various extensions and modules that will help you track abandoned shopping carts on an eCommerce website.
By now, you will have come to understand that shopping cart abandonment is an inevitable facet of operating an eCommerce store. However, this is no reason for becoming disheartened. You only need te implement a strong strategy to salvage your sales and recover as much as you can. All this can make you a thorough winner in the cut throat eCommerce market.