Most of the e-commerce stores witness Shopping Cart Abandonment problems that act as a threat to the downfall of the business. Shopping cart abandonment happens when shoppers browse and select their items and put it in their online shopping cart but leave the site before completing their purchase.
Let us find below the common factors that lead to Shopping Cart Abandonment.
Compulsive Registration for Creating New Account
Shoppers having to create a new account in order to register and enter information in various fields make it a hectic task for many customers. By providing a guest checkout option, users can complete the purchase in a simple manner and the merchant can cut down the number of dropouts drastically.
Lengthy and Perplexing Check-Out Procedure
Customers lose interest on a product even at the checkout page occasionally because they are asked to fill long and confusing pages of information in order to place a order. With multiple steps from the cart to check out makes the customer frustrated and abandon the order.
Customer Conducts Price Comparison with other E-commerce Stores
Customer goes through the website and checks the same product in another e-commerce website for better offers and discounts. If a different website offers the product for a lower pricing, customer abandons the cart and places the order in the other e-commerce store.
Shopper Adds to Cart to Purchase Later
Customers at times purchase a product to gift a friend or a relative for a special occasion on a later date. They browse through the online store to purchase it later and hence add it to the cart but later abandon the cart due to several reasons.
Expensive Shipping Rates and Delayed Shipping Time
Shoppers abandon their carts when they see the expensive shipping rates and taxes that are included in the total. Products that offer free shipping are much preferred than ones with shipping charges. Most often the delayed shipping time also serves to be one of the reasons for the cancellation of orders.
Lack of Multiple Payment Options
Most of the cart abandonment problems in a multi vendor shopping cart software faced by online businesses are due to the lack of multiple payment options. Online shoppers abandon their potential purchase when their preferred payment option is unavailable.
Ways to Minimize Shopping Cart Abandonment
By making navigation and checkout process simple
Adding the shipping charge to the price of the product to ensure shipping is made free
Eliminating hidden costs or additional charges
Offering multiple payment and shipping options to cater to the convenience of the shopper
Sending reminder emails to customers on pending items in their cart