Shopping Cart Abandonment
Shopping cart abandonment is a common problem in online shops. In the past five years the number of abandoned shopping carts has increased from 67% in 2012 to 75,6% in 2016. Every online shop has to deal with shopping cart abandonment. A shopping cart may be abandoned for a number of reasons, but there are ways to decrease the number of abandoned carts. We have listed the most common reasons for shopping cart abandonment and offer tips to prevent it.
1. Enable Second Chance
Shopping cart abandonment is online window shopping for some: you may have a daily number of visitors on your website killing time by sniffing through your online products. According to a graph published by the Italian online Ecommerce Magazine, the number one reason for shopping cart abandonment is online window shopping. Approximately 57% of all online shopping carts are abandoned by people who are not ready to purchase (yet). There are also visitors (an estimated 56%) with every intention of purchasing products that end up cancelling their order, e.g. because they do not have the time and intend to complete their purchase at a later date. By enabling Second Chance in your MultiSafepay account you can recover the transactions initiated by these visitors. When Second Chance is enabled, your customer will receive an email with a payment link so that they may complete the order they initiated. The payment link redirects to where the customer left off so that they do not have to repeat the entire payment process.
2. Consider free shipping
If you can swing it, free shipping a great way to instantly boost your conversion rates. Online shoppers love free shipping and is even inclined to spend more money if there are no shipping fees. Carefully way your options in order to determine if free shipping is an option for your website. More than half of all online shopping carts are abandoned by consumers frightened off by high shipping fees.
3. Add payment options and ensure a nice checkout process
It sounds so simple, but offering a wide range of payment options will help you limit shopping cart abandonment. A staggering 56% of online shoppers indicated that they love seeing a variety of payment methods in a website's checkout (source: Ecommerce Magazine). Online shoppers are more privacy-savvy than they used to be and tend to be more trusting if they can pay for their purchases using a payment method they know and trust. This way the customer will feel like they have some control over the process.
A seamless checkout experience is just as important. Check your online forms to make sure you only ask customers for relevant information and pay attention to your payment pages. By monitoring and understanding the customer journey on your website will bring you closer to your customers and will restore and build customer trust.
4. Do not overcomplicate things for your customers
There are a number of smart features you can use to simplify the ordering process on your website. A good example is the 'Keep cart alive'-option. This feature saves a customer's shopping cart, even if he/she is already has initiated the payment process but decides to return to another page to add something else. Saving a shopping cart for a longer period of time, so that the customer can return a day later to pay for their products, is another feature worth considering. These features are included in our plugins. Please consult theintegration manual of your favorite plugin for more details.
Do you have questions about these tips? Contact us or discuss these tips with your account manager.