A while back, the online statistics portal Statistia released the top 14 reasons why online consumers abandon their shopping carts during a purchase. Some of the responses were predictable, but other reasons were surprising and largely avoidable. Having a mobile-friendly website is no longer a novelty with an e-commerce site (key word: friendly). It is an absolute necessity. By performing due diligence in a few areas, e-commerce merchants can reduce shopping cart abandonment significantly.
Why Consumers Abandon Their Carts
The Statistia study found many legitimate reasons for shopping cart abandonment: concerns about payment security, consumers simply deciding not to buy and those just browsing. Of course, not every visitor to your e-commerce website is going to purchase something.
For the majority of the reasons, however, there are precautionary steps a merchant can take. The top reasons why consumers abandon checkout was unexpected costs with the purchase: For example, shipping fees, ‘convenience’ or ‘handling’ fees (often seen when purchasing tickets for concerts or sporting events). Additionally, a ‘lower price with a competitor’ ranked highly as did ‘complicated navigation of a website.’
How Can Merchants Counter Shopping Cart Abandonment?
Below are 6 worthwhile tasks merchants can take to reduce cart abandonment.
- Invest in a Quality Website:
With a website, you get what you pay for. Low quality sites will reflect just that – low quality. An attractive website – one that is mobile friendly – can pay for itself in a few conversions. No skimping allowed.
- Consider Matching Competitors:
A while back, we posted a blog on why merchants should embrace ‘showrooming,’ the act of consumers comparing costs with their mobile phones while shopping online or in a brick-and-mortar. When a merchant is willing to match competitors’ prices, they are sending consumers a clear message: We want your business. Consumers will remember and appreciate it.
- Shipping Included:
Additional costs? Work them into one cost that includes shipping. Pave the way for a less complicated checkout.
- As Few Windows as Possible:
You should think of the checkout process on your website as a wet sponge that needs wringing out. Continue looking for ways to ease and shorten the checkout experience, particularly for mobile shoppers. Number the steps prominently. Make the consumer aware of how many steps until checkout is complete.
- Strange Currencies:
If you are a US merchant, advertise costs in US dollars. If you are a UK merchant, euros and pounds. Having an unfamiliar currency on your products is a one-way ticket to shopping cart abandonment.
- Security, Security, Security:
We understand e-commerce sites can get expensive, but having an unsecure or semi-secure site simply isn’t acceptable. Invest in anti-fraud software such as SSL certificates, 3D Secure and MaxMind fraud protection. Not only does it make your site more secure; it also lowers your risk profile.
Instabill’s E-Wallet Option
More and more, US consumers are shopping via their smartphones. The e-wallet from Instabill makes the online shopping experience easier and more secure. With the Instabill e-wallet, consumers can safely store credit cards and track their spending. To find out more about e-wallet options from Instabill, select the live chat option below.
