The average shopping cart abandoned rate is 67.91% (According to the Wikipedia) (Out of 100 people, ~68 are leaving the chopping cart without purchasing). That means it is normal that people will leave your eCommerce site at the checkout page without making a successful purchase. It’s impossible to make every person to make a purchase from you. On the other hand, the average eCommerce conversion rate is 3% (according to the-Marketing sherpa survey). So, here you need to be worried if your conversion rate is less than 3% and cart abandoned rate is higher than 67.91%.
Read also- The $300 Million Button (User Interface Engineering).
There are many reasons behind why people are leaving your site without making payment. A statistics company Statista has released a survey chart with 14 big reasons (questions) why people leaving online stores without making a payment-
Here is the screen shoot of the chart-
After observing the chart, you can easily get a clear idea that why your eCommerce site losing customers at the checkout page. It's really very horrible to see any additional costs in the shopping cart after doing all the necessary things to purchase a product (according the chart above). These will make your customers not only leaving your shopping cart, they will also never return to your store again.
Not only this, people also using online shopping sites as researching purpose before buying a product from an offline market. We shouldn’t forget that a majority of eCommerce visitors belongs to the middle class family and they have to spend money carefully on every section in their daily life. So, basically it’s impossible to reduce shopping cart abandoned rate to zero. But, you can definitely reduce your shopping cart abandoned rate to a quite satisfactory level by following a few simple rules.
Not only this, people also using online shopping sites as researching purpose before buying a product from an offline market. We shouldn’t forget that a majority of eCommerce visitors belongs to the middle class family and they have to spend money carefully on every section in their daily life. So, basically it’s impossible to reduce shopping cart abandoned rate to zero. But, you can definitely reduce your shopping cart abandoned rate to a quite satisfactory level by following a few simple rules.
Things to reduce shopping cart abandonment rate;
You have to improve your business conversion rate along with reducing cart abandoned rate, if you want to run your eCommerce business long. Because, here the investment is very high and you have to make some profit after recovering the investments. Here, reducing cart abandoned rate and improving business conversion rate is the same thing. So, if you only focus on improving business conversion rate, then the cart abandoned rate will automatically be reduced.
Here, some essential things which will improve your conversion rate-
1. Trust is the key: People always prefer to buy products online only from the reputed eCommerce companies like Amazon, Alibaba and eBay. Shoppers are simply ignoring the less popular sites offering the same products, even for a lower price. It’s only because of the trust factor. They can’t verify online products physically so, the things that matters are- popularity and positive customer reviews.
Now, one thing should be remembered that the popularity of your e-commerce site matter most than the popularity of the products you’re offering. Because, people knew that a Samsung mobile will be delivered from a Samsung outlet not from e-commerce’s own factory. But, consumers are still looking for a reputed online shopping destination for ordering Samsung mobiles to get the genuine products.
Therefore, one thing is clear that if your eCommerce site is not so much reputed, then consumers will look at the products listed on your site with a suspicious mind even those are genuine.
To gain reputation, you need to do a lot of things such as- improving consumer support, exact pricing, getting positive reviews, TV commercials, etc. Here the positive reviews and TV commercials are making the biggest impact on overall business reputation. Probably, promoting a business through television advertisements is very costly. But, it’s the best way to reach the maximum people with your business message audio-visually. Otherwise, you can only concentrate on getting genuine positive reviews for your business through blog articles, news articles, public forums, etc. to increase your business reputation slowly.
2. Improve checkout page: Your checkout page might also responsible for a higher shopping cart abandoned rate. In many cases it has been seen that shoppers are ignoring their cart after watching the things below on the checkout page-
- Different pricing of products.
- Asking lots of personal details such as signing up for an account or a login page.
- Extra added costs such as value added tax, shipping cost, etc.
- Not a secure web connection like HTTPS.
- Checkout page is on another domain name.
- Only a few payment methods.
Read also- The $300 Million Button (User Interface Engineering).
3. Make the return policy simple: As I said earlier that consumers can not verify products physically while they are shopping online, so they really deserve an easy return policy to ensure that their money is safe. The return policy is not only ensuring money safety, but also it generates a positive notion in consumer’s mind. So, it’s mandatory for every eCommerce company.
But, in many cases it has been seen that eCommerce companies are not providing a return option where a product has delivered. Consumers have to choose a different location to get picked up the product. It definitely makes a negative impact on your business reputation. ECommerce companies should consider this matter seriously!
Conclusion: Now, eventually a question will arrive that- what exactly should be your cart abandonment rate? According to my point of view- your cart abandoned rate should be lower than your competitors. By this way you can set a parameter for your success as well as your shopping cart abandonment rate improvement.
Related Posts:
0 comments:
Post a Comment