You as a shop owner must do everything you can to attract customers to your products or services. However, online shoppers tend to abandon your store after adding items to their shopping carts. This means that you “lose” the sale.
Cart abandonment is responsible for approximately $4.6 trillion in lost eCommerce revenue every year. This is a significant loss.
Converting customers is key to making it worthwhile. Analyzing why customers abandon carts is a great way of increasing conversion rates and reducing the likelihood of them leaving again.
We will now show you the best ways to abandon your cart.
What is CART ABANDONMENT?
Let’s start by defining cart abandonment in case you don’t know what it is.
Cart abandonment can be described as an eCommerce term that refers to the act of a customer abandoning the checkout page before they purchase.
This rate shows the percentage of website visitors who are intent to purchase (add items to their cart), but never complete the purchase.
This is a critical metric eCommerce stores should keep track of, as a high abandonment rates is an indicator that your sales funnel may be broken or that your website is not user-friendly.
SOLUTIONS TO CART ABANDONMENT (ONE STEP TAKE CHECKOUT FOR MAGENTO 2, AND MORE)
You can see that reducing cart abandonment rates leads directly to increased sales and revenue. How can you achieve this?
There are many reasons cart abandonment can occur. You need to identify the problem that your website is experiencing and then find the best solution.
Here are eight reasons why cart abandonment is most common:
HIGHER ADDITIONAL COSTS: SHIPPING, TAXES, FEES, ETC.
Hidden costs are the number one reason that shoppers abandon their carts without buying. It is actually the number one reason shoppers abandon carts.
Around 25% of customers stated that they would abandon the order if shipping costs were too high. Other hidden costs, such as taxes and fees, can have the same effect.
These extra fees can cause irritation and annoyance. Customers will usually leave if they see the additional fees at checkout.
Eliminating them is the best way to reduce high additional costs.
You can add these extra fees to the product price. This is a great tactic. To notify customers that shipping fees can be avoided, you could offer a free shipping bar.
If you can’t lower costs, tell customers upfront what shipping costs, taxes and additional fees are involved.
NEXT USER ACCOUNT REQUIRED
It is not a good idea to force customers to register for an account or create an account to buy. Customers expect convenience. Customers expect quick results and instantaneous processing.
You can break the purchase cycle by adding an additional step for your customers and keep them away.
22% of shoppers abandon carts when they need to create a new account.
Do not force accounts to be created. Offer your customers the option to checkout as a guest.
After the purchase has been completed, you can ask for emails or other contact information to be collected for remarketing purposes. On the confirmation page, you can ask them to receive email updates regarding special deals or similar.
CONCERNS ABOUT PAYMENT SECURITIES
Customers expect that their credit card information and financial and personal information are safe and secure and that payment is processed securely.
Customers are most suspicious of outdated layouts, design flaws and missing images.
Trust in your website can be increased in many ways.
Social proof is the best way to ensure that customers trust your store.
Review products. Customer testimonials are a good idea. Give complete contact information such as a telephone number and information about yourself and your employees.
To properly store credit card information and verify transactions, you must also follow PCI compliance guidelines. You should also use fraud management systems that prevent and detect fraud.
Make sure to include trust signals and seals throughout the checkout process so that your customers are confident in their data.
NO COUPON CODE
Ecommerce customers are used to receiving a flood of promotional offers and discount codes.
They chase down the best deals. They will either wait for a coupon code or shop in another store offering a discount if there are none.
Some checkout pages encourage feeling like you are missing out. A coupon code field encourages people to believe they are paying too much.
If you can, auto-apply coupons.
Your discount codes should not be too obvious, but they should still be easily accessible by customers. It’s important to not discourage customers from buying if they don’t have a coupon code, but also to make it easy for them to find one.
LACK OF PAYMENT METHODS
Online shoppers expect convenience in using their preferred payment method. Your customers are more likely to abandon your cart if there are fewer payment options.
Offer customers as many payment options possible. Adding all major payment options to the list and growing it from there.
No Express Shipping Available
Shipping is a major concern for customers. Shipping is a major reason for cart abandonment. Large purchases can also be affected by shipping delays.
It’s not hard to see the point. Time is often a constraint when it comes to important purchases. Birthdays, holidays and anniversaries are all examples.
Customers can abandon their shopping carts if the store is unable to deliver the order on time.
Express shipping is always an option. If you feel the need to charge more, you must offer it.
You can make customers pay for expedited shipping and reap the benefits.
WEBSITE IS NOT MOBILE-FRIENDLY
More than half of all online sales today are done via mobile devices. It will be a major flaw if your site isn’t optimized to mobile.
Your website should be responsive and compatible with desktop and mobile devices. Mobile-friendly design is essential for the checkout and shopping cart.
CONFUSING CHECKOUT LONG AND CONSISTENT (& ONE STEP CHECKOUT TO MAGENTO 2
The most frustrating reason for cart abandonment is a long and complicated checkout process.
Inconvenient form fields can cause confusion and delay the user’s ability to complete payment.
Customers want an easy checkout process. Any additional steps can hurt your user experience.
Magento 2 One-Step Checkout is the best solution
You can simplify your checkout process with the One Step Checkout extension for Magento 2.
We are pleased to present you the Magento 2 One-Step Checkout by BSS.
INSTALL The best One-Step Checkout for Magento 2 extension
This module allows you gather all checkout blocks onto one checkout page. This module will make your checkout page more user-friendly and streamline it.
You will also see a shorter checkout loading time.
This extension not only solves the time-consuming and complicated checkout problem but also addresses concerns about payment security and the absence of payment options.
It supports many payment options, including online banking, credit card, pay by card, amazon payment, pay by credit eway, Sagepay and Stripe Official.
This extension also offers a more responsive checkout page for all devices, desktops, tablets, and mobiles. This feature is especially useful if you’re targeting mobile shoppers.
Magento 2 One Step Shop by BSS offers many more amazing features that will help you increase your sales. See the full list below.
- Lightning setup with unlimited customization.
- Elastic checkout with multiple addresses, and automatic GeoIP detection
- Fully geared to RESTful API or GraphQL API.
- Plug-n’-Play compatibility.
- Compatibility with most popular payment methods. Free support for highlight themes.
- All Magento themes supported
We have provided many solutions to cart abandonment in this article. The best solution is One Step Checkout for Magento 2, which can address all the issues that cause cart abandonment.
We hope you find this blog helpful.
BSS Commerce is a leading provider of Magento extensions and web development services around the globe. We have a team of highly-qualified Magento developers who are certified and experienced to help you optimize your business. We offer free installation, FREE 1-year support and FREE lifetime updates for all Magento extensions.