Retailers are improving the online shopping experience for users in their websites but they need to find the way to reduce basket abandonment, an inevitability problem in e-commerce as it’s all to easy for shopper to lose interest, decide to buy from a competitor or back out because they are only browsing.
An average of 75% of all online shopping carts are abandoned according by Cloud.Iq, leaving retailers with the challenge of how to driver better conversion rates.
With the increase of costumers purchasing items onlines, retailers need check some of reason for basket abandonment and find the way to reduce this average, that cause losses close to 18$ billions annually.
Recent studies show 10 of the most common reasons customers decide to abandon their online shopping carts and leave your online store without spending any money.
- 57% didn’t want to pay shipping costs
- 48% felt the cost of the purchase was more than expected
- 41% simply used the shopping cart for research – perhaps to determine shipping costs
- 35% didn’t want to register and create an account
- 27% wanted a discount coupon
- 24% sought more payment options
- 22% were unable to find contact information and felt the website was less credible as a result
- 19% didn’t want to wait for the purchase to be shipped and purchased offline instead
- 15% felt checkout process was too complicated
- 12% reported a variety of other reasons for basket abandonment
How can retailers tackle this problem? Fortunately, there are many ways you can reduce shopping cart abandonment.
- Avoid unexpected price increases
- Eliminate or reduce shipping costs
- Match direct competitor’s pricing
- Improving online shopping experiences
- Provided detailed shipping information
If you add some these five tips can lead to more online shoppers completing their orders and significantly grow revenue for your business.