In the world of e-commerce, the phenomenon of cart abandonment remains a puzzle that businesses strive to solve. To shed light on this critical issue, we’ve compiled a comprehensive infographic that delves into the major reasons behind cart abandonment, presents revealing statistics on abandoned carts, and provides valuable tips for cart recovery. Join us on this visual journey as we uncover the secrets behind why customers abandon their carts and discover effective strategies to win them back.
Inforgraphic by Addify
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<a href="https://addify.store/why-customers-abandon-their-carts-infographic" title="Why Customers Abandon their Carts"><img src="https://addify.store/wp-content/uploads/2023/10/Cart-Abandonment-Statistics-for-2023.png" width="100%" style="max-width: 850px;" alt="Why Customers Abandon their Carts"></a><br>Provided by <a href="https://addify.store/" target="_blank">Addify</a>
What is Cart Abandonment?
Cart Abandonment happens when a customer selects the product on your website and adds it to the shopping cart for buying, but due to some reasons leaves the website without completing the transaction process that cart is now abandoned by the customer on leaving the website.
Reasons that can Lead to Cart Abandonment
In today’s fast-paced digital world, online shopping has become a regular part of our lives. With just a few clicks, we can browse through a vast array of products and make purchases from the comfort of our homes. We will delve into the reasons that can lead to cart abandonment and explore ways to mitigate these issues by optimising the store. If your store is developed on WooCommerce then the only thing you need to do is install Woocommerce Abandoned Cart Recovery and recover abandoned carts.
Customers usually leave the websites without purchasing when they see a High unexpected shipping, taxes or handling charges on completing the checkout process. These costs should be fair according to the product and delivery.
Complex Checkout Process
Many store owners try to access customers’ data at the checkout process for marketing purposes; for this they make the same lengthy checkout processes to gain the extra information for every user role . In order to make customers purchase the product the checkout process should be short and according to every individual or user group.
Buyers only trust the payment options through which they usually buy everytime because they trust that payment method for security purposes.In order to reduce cart abandonment you have to be careful and try to provide as many options which are trusted worldwide.
Many buyers Compare the prices of different platforms by putting the product into the cart for choosing the better price deal and they jump off to a better deal by leaving the cart.
Lack of Trust
Buyers usually go for a website that is trusted and reputed in the particular niche. They show trust on these websites which are secure, authentic and provide clear contact information for after sale purposes as well.
Some International buyers leave the websites when they see a sudden increase in the prices at the checkout process due to the currency conversion rates. Prices should be considered globally in order to run an online business.
In order to run an online business your website store loading speed is very important. Websites with unexpected crashes or with technical issues frustrate the customers which damages the user retention. Due to these issues customers may leave your website and buy from somewhere else.
Poor Mobile Optimization
In today’s era most of the buyers do online shopping through hand held devices. So in order to run an online store your website user Interface and optimization should be according to the mobile phones. A user-friendly interface may help you increase the sales of the store.
Distractions and Unexpected Interruptions
Most of the time Popups work well to introduce your new product or discounts. But useless continuous offering or ads through the popup may divert customers attention and instead of buying they may leave your website during the checkout process.
Lack of Remarketing Strategies
Abandoned cart emails are a very useful way in order to regain your sales which the buyer has abandoned during the checkout process. Retarget cart abandoners by offering them discounts so they can come back to your store for buying intention.
15 Important Cart Abandonment Statistics for 2023
Here are some statistics about cart abandonment that are worth mentioning:
- 50% of shoppers abandon carts due to unexpected costs.
- 17% of online shoppers abandon sites with complex checkouts.
- Americans buy 58% of what they put in their shopping carts.
- 90% of customers leave if a website loads slowly.
- Over 50% of customers abandon carts after 30 seconds.
- The global cart abandonment rate is approximately 76%.
- Optimizing checkout reduces desertion rate to 20%
- In December 2022, checkout abandonment reached an unprecedented 50%
- Mobile checkout abandonment rate is 85.65%.
- Travel companies face an 87% cart abandonment rate.
- 45% of cart abandonment emails are opened.
- Personalizing retargeted advertising can result in a 1300% ROI.
- Annually, abandoned carts cost businesses $4.6 trillion!
- By CMS, WooCommerce has an abandonment rate of 70%, Shopify 75%, Magento 60%, BigCommerce 66% and Others have 70%.
- 24% of shoppers abandoned their cart when forced to register an account.
- “About 17% of shoppers abandon carts due to trust concerns with credit card details.
Strategies to Recover Abandoned Carts?
Abandoned shopping carts can be a major pain point for businesses. Customers often add products to their carts but leave without completing the purchase. Fortunately, there are effective strategies to recover abandoned carts and boost your online sales.
Customers usually go for the websites who display trust seals, Such as SSL certificates because they trust on these certifications. Customers want safety and their preferred payment methods for the transactions. Provide customers their preferred way of the transactions and display the security icons in order to win their trust.
Customers usually trust the website which provides the paypal and trust badges as a secure payment transaction method. They trust secure websites because they are concerned about their data and transactions in order to remain secured from the scams.
Maintaining your store by providing best services such as customer support and delivery in order to gain the positive reviews from customers which helps you build trust and new customers.
Customers are usually impressed by the awards and achievements shown by the website. It helps the store to build authenticity and trust. It shows you are credible and experienced in delivering the best services.
Simplify Checkout Process
Many buyers feel hesitant to register themselves on a website in order to buy a product. So they may leave your website before completing the purchase. Besides, this long checkout process with repetitive information also frustrated the buyers so in order to retain customers on your website to complete the purchase provide them a simple to the point checkout process according to the specified user role.
Responsive and Fast Website
When a website is responsive, it automatically adjusts to different screen sizes and device types, giving consumers the best possible experience whether they are using a desktop computer, tablet, or smartphone. A speedy website, on the other hand, loads swiftly and effectively, keeping visitors interested and preventing them from leaving because of lengthy loading times.
Transparent pricing involves telling customers up front and in detail how much a product or service will cost. It is essential to creating a sense of trust, encouraging customer contentment, and establishing long-lasting relationships with your customers.
Cart abandonment is a common challenge in e-commerce, but it’s also an opportunity to re-engage potential customers and recover lost sales. In order to complete their abandoned cart sales remind shoppers about their abandoned cart through email reminders.
Online discounts are an effective way to draw customers, increase sales, and foster brand loyalty. Discounting should, however, be approached intelligently to make sure it supports your company’s objectives and doesn’t harm your profitability.
Modern web design must include mobile optimization to make sure that websites run smoothly and have a pleasing aesthetic appearance on mobile devices. However, responsive design and speedy loading times are only a small part of mobile optimization. It involves creating original content created especially for mobile consumers.
Live Chat Support
Live chat support has become a vital and dynamic tool for companies looking to offer outstanding customer service and encourage deep connections with their audience. It permits text-based, real-time communication between customers and customer service representatives, facilitating rapid problem-solving, information sharing, and relationship development.
Any website’s navigation is its foundation since it controls how visitors explore and engage with its content. User experience (UX) design must prioritise making navigation simple so that users can quickly discover the information they need.
Note – All the sources for infographics are mentioned at the end of the infographic