Having an online business is a thing these days but it is not as easy as you would imagine because of the intricacies it carries. Whether you are selling a product or service, you only have one goal in mind: profits. You have to think of ways to entice shoppers to gain more profits.
Bringing them to your page is just the beginning. You need to think of ways for the shoppers to stay and facilitate easy checkout. But this does not happen always because of shopping cart abandonment. Shopping cart abandonment is when a potential customer goes to your store, accumulate products in the cart and for whatever reason, desert it. This is a painful thing for an owner.
When you notice a high abandonment rate, it is imperative that you know the reasons so you can create action plans. According to the 2014 study conducted by UPS, the top reasons for shopping cart abandonment are as follows:
• 58% of online shoppers abandon their carts because of the shipping costs. There are some pages that do not display the shipping cost and when it is time to checkout, customers will discover higher total purchase which is more than what they expected.
• 57% of online shoppers just wanted to try to determine the total cost of the purchase. These people accumulate products in their cart just to have an idea of the cost so they can compare it with similar sites.
• 55% of online shoppers were not ready to continue the order because they wanted to save it for later to the point of forgetting it.
• 50% of online shoppers did not pursue the order because they do not qualify for free shipping. As mentioned, the first reason was shipping cost and if it is not free, many people will decline.
• 28% of online shoppers abandon their carts because the page is asking them to sign up or register first. Sometimes online businesses should understand that signing up or registering is too much. Why can’t the shopper directly purchase it?
• 25% of online shoppers did not continue because their preferred payment options were not offered.
Now that you know the reasons, take few steps back and assess your page. The good news is that there are ways on how you can recover abandoned shopping carts like shopify abandoned cart app. Do not let abandoned carts discourage you. The important thing here is thinking of ways to redeem the business. That matters at the end of the day.