Anyone who runs an online store knows perfectly well that it is difficult but cost-effective to rescue abandoned shopping carts. If a potential customer has decided to devote enough attention to your offer to add products to the basket, and not to finalise the purchase, it’s worth knowing its motives. Knowing the reasons that influence the abandonment of shopping baskets will also allow you to verify the current actions and introduce possible improvements to your e-commerce.
A study by the British Internet research company Baymard Institute shows that 67.45% of shopping baskets are abandoned. Determining the causes of unfinished transactions and what can be done to prevent them is, therefore, crucial for any online business. Let us face it – if a company that currently earns £15,000 a month in an online shop could turn only 25% of these abandoned orders into sales – it would earn an extra £45,000 a year! That’s a lot, isn’t it? So, what are the reasons why so many online purchases aren’t finalized?
According to research conducted by Baymard Institute, for as many as 60% of respondents, too high costs associated with purchases (taxes, delivery costs, commissions) are the factor determining the abandonment of the shopping cart. Customers also refuse to finalize their orders if the costs prove to be inconsistent with the previously obtained information. It is also worthwhile to fine-tune promotional activities to avoid a situation where the promised discount is not clearly indicated in the order form. Such a situation may cause customers to feel cheated and, in the end, give up shopping because they do not know whether the discounts or other benefits promised to them earlier will be credited.
The studies mentioned above also show that online shoppers often do not complete their purchases when they need to create a user account. 37% of the surveyed persons admitted to such behaviours. It is worth paying attention to this aspect and give customers a choice. Those who want to be able to track their orders will certainly use the option of creating an account on your website. On the other hand, those who want to complete the transaction quickly will choose the option without logging in. Of course, this does not change the fact that you can suggest that they set up an account in e-mails confirming their purchases.
Buyers expect that they will be able to pay for their products during the transaction literally in a few steps. However, some online shops are making this task more difficult for them. It is worth knowing that if the ordering process becomes too complicated, potential buyers will simply go shopping elsewhere. Therefore, every owner of an online store should take care of a friendly and intuitive interface, tailored to the needs and requirements of consumers.
The Zenith Media Consumption Forecasts 2018 report shows that mobile internet usage will account for 26% of global media consumption in 2019, compared to 19% in 2016. The popularity of mobile devices for online shopping is also growing year on year. Mobile phones and tablets are particularly popular online shopping devices for the 15-24 age group, although older people are also often looking for mobile shopping opportunities. So, if you want to encourage your customers to complete their shopping in your online store and not to abandon their shopping baskets, remember about the “mobile first” principle and adjust your e-shop to comfortable browsing on mobile devices.
Shopping in stationary stores gives consumers the opportunity to quickly consult and obtain important information. On the other hand, in online shops, the issue of contact with the customer service department is often difficult. Availability 24 hours a day means that purchases can be made at any time of day or night. If customers visiting a given online shop are unable to find the information they need on their own, they are likely to abandon their shopping cart and go to the competition. How can you protect yourself against this? Use chatbots and artificial intelligence. With this combo, your visitors will receive personalized offers that are perfectly tailored to their needs and, in case of doubt, can be supported by a virtual assistant.