For every e-commerce industry facing cart abandonment issues is a very common matter. In this blog, we have tried to cover the key reasons for shopping cart abandonment. Consequently, we have shared some valuable suggestions for reducing shopping cart abandonment.
According to a research study, it is being found that 77.3% of carts are being abandoned in 2017. It is a matter of high concern to deliver exceptional shopping experience as there a number of competitors in today’s highly competitive e-commerce business.
Reasons for shopping cart abandonment
1. Taxes and shipping charges
Before buying the product from an online portal, the consumer does navigate a number of websites. After viewing reviews, ratings, delivery time period, shipping charges, and price the customer does take a step forward to buy the product. After putting the item into cart and finalizing it for buying, often customer encounters the issues of various taxes and shipping amounts added on the final price. It leads to an increase in the price of a product which dissatisfies the customer at the last moment of time.
Three out of four shopping carts are abandon from buyers due to the hidden costing which is displayed at the final time of payment.
2. One page checkout
After viewing the product and completing all the formalities of creating an account, putting the item into cart, and entering payment details, the customer feels extorted. The buyer wants to buy the product in an easy, hassle-free, and in a minimum number of steps.
With the complications of not having the preferred bank, cash on delivery features, etc. the customer becomes unhappy. It results in cart abandonment and also leads to the loss of a buyer.
3. Optimized web store performance
Mostly, the Magento e-commerce websites are too heavy because of images, content, and the number of items. These websites take a lot of time to get opened. These things waste the user’s time and the buyer to doesn’t like to browse the website after waiting for a long period of time.
By reducing page size, compressing data, and limiting social plugins the website can be made lighter and quick-witted to use.
4. Doesn’t provide a wide selection of payment options
At the time of checking out, if any customer is not able to find it’s preferred way of doing the payment, then there are very high chances of cart abandonment. Therefore, it is necessary to provide multiple numbers of payment options. For example, through Debit/Credit cards of VISA, Maestro and RuPay, and various others.
Apart from the online payment facilities, the cash on delivery/EMI payment feature must also be an option for the buyers. It provides the user with a wide number of check-out choices to do.
5. Security concerns
The security of a website is one of the primary aspects that the user is looking at before investing money. Leakage of data and confidential information like that of debit/credit numbers, pin number, and CVV particulars are becoming quite fast.
Therefore, the protection of user’s data from criminal offenses and cybercrimes must be some of the preeminent things that must be precisely taken care of.
6. UX related issues
From comparing the products tag prices, features, and shipping time-period the e-commerce web and app should provide a seamless experience to the shopper. If the journey of the buyer goes smoothly from viewing the items, picking up, and carrying out payment, then only the visitor is going to turn into a purchaser.
Here, we are sharing some Ecommerce business solutions for successfully dealing with shopping cart abandonment problems.
1. Delivery date and comment
By adding delivery date functionality feature in the Magento e-commerce development the buyers do feel trust and have faith in the online store. Apart from it, there are other functionality features of the delivery time interval, holidays, and delivery exceptions that can be added for making it easy for users to track the things.
2. Speed checkout process
The customers believe in purchasing through a portal that is safe and efficient in use. By reducing the number of steps at the time of checkout, the chances of earning profit and increasing conversation rates become high.
3. Instant customer support services
The customer has multiple numbers of questions running in their mind when they place an order. Like that of change in address, phone number, delay in shipment, and various others. The user loves to get a quick response. If the buyer gets online support from customer support executives, then definitely it will result in less number of cart abandonment issues.