E-commerce has a shopping cart abandonment problem, and it’s getting worse instead of better. Back in 2012, the Baymard Institute put the average cart abandonment rate at 65%. Now the average is 69%. Clearly, this is a problem that needs fixing – and the tools to do so are already available for merchants who want to increase cart conversions.
Why do customers leave their carts? Time and money
Among the top 5 reasons that consumers give for ghosting their carts, 4 are related to entering information during checkout. Roughly 36% of cart abandoners bail out when they see shipping costs – an excellent reason to follow the common advice to state your shipping costs early and often on your site. The rest leave because they’re frustrated with the merchant’s process for entering payment, shipping, and billing address information.
This is a particular problem for the increasing number of consumers who shop on their phones and tablets. Life is short, mobile keypads are tiny and often hard to use, and people who are shopping one-handed on the train or at a café aren’t likely to pull out their credit card in a crowded space to key in the number. Merchants who want more cart conversions will make their checkout process faster and simpler.
3 fast fixes for more cart conversions
With the right checkout tools, it’s easy to help customers move from cart to completed purchase with minimal friction.
Streamline checkout to require as little data entry as possible, especially on mobile devices. Business Insider found that a total of 40% of abandonments happen when customers are asked to enter shipping and billing address information. Forte’s e-commerce checkout form is designed to be intuitive and easy for busy customers, specifically to reduce cart abandonment.
Reduce and move the hoops customers have to jump through. More than 37% of abandonments occur when customers reach the checkout login stage. To combat this, make logging in optional. TechWorld, for example, recommends making customer registration optional and offering it after the purchase rather than before checkout. Forte’s solution gives merchants the flexibility to offer secure e-wallet data storage for customers who want it while also making one-off purchases as simple as possible.
Keep the checkout process congruent and reassuring. Shoppers are more likely to abandon the process if the design elements or URL change dramatically from one step to the next during checkout, and a total of 46% of abandoned carts are ditched during the payment stage. Forte combats this with an overlay checkout screen that allows customers to complete purchases quickly while the merchant’s site remains reassuringly visible.
Follow up with your cart abandoners
BI makes the point that many shoppers who leave items behind in a cart aren’t gone for good. Many plan to come back later to buy those items or something else. An easy way to raise conversion rates among these maybe-later shoppers is by sending targeted follow-up emails within a few hours of their site visit.
To learn more about Forte’s e-commerce checkout solutions, give us a call at 866.290.5400 or email email@example.com.
Photo credit: Negative Space