According to research, around 70% of the buyers leave the cart abandoned on an eCommerce website after adding the product to the cart. There are various reasons for cart abandonment.
Some may leave the cart to find related products; some leave it to compare the prices while others abandoned the cart on the checkout page after seeing the long registration form. From reports, 34% of users abandoned their cart because they are forced to create an account on the checkout page.
The number for cart abandonment on the checkout page is one-third of the total. Some other reasons we must look into are:
34% were not ready to buy, they were just looking.
23% did not find a suitable shipping option.
18% leave the website to compare prices.
15% of people thought of buying in-store instead.
6% abandoned the cart due to a lack of payment options.
4% experienced a technical issue like longer loading time or others.
Now we know the reasons and statistics for cart abandonment. Knowband like One Page Checkout addon which can be a lifesaver for eCommerce store owners if you want to get rid of cart abandonment.
1. Add Guest Checkout and Social Login for quick registration
One of the key reasons for abandoning the cart is forcing customers to build an account on the checkout page. No good reason I can find for adding this hurdle to a successful checkout.
As a store owner, to provide personalized customer experience, you require to collect as much as information you can. Is this the right way? No. What else you can do about it?
Offer guest checkout and social login on your checkout page. One Page Checkout module provides these two options on your checkout screen, not only a drop in cart abandonment but you will also see a jump in the number of registrations.
One Page quick checkout module, let users check out as a guest if they don’t feel comfortable signing up. Social login, on the other hand, enhances the customer experience and provides up-to-date information about the customer.
2. Let them know about the checkout progress
It might be frustrating for customers to be on the checkout page without any endpoint insight. Single page Checkout addon displays a progress bar on the top of the page to let the user know about their stage.
With no progress meter, they keep filling out the details and keep going to the next pages only to find out it’s a very long and time-consuming process. This inevitably causes customers to leave their carts.
The progress bar feature of Single page Checkout addon shows the total steps that the customer has to take to complete their checkout and fills as soon as they move on.
It’s easier to tell the customers beforehand what they’re going to have to do before they can leave.
3. Provide Easy Navigation
Make it easy for users to access your website. Don’t clutter it with cumbersome designs. The smoother the journey of your customers, the fewer the abandoned carts would be.
Most eCommerce websites often see that when a user clicks the back button after filling out a specific tab, all the information is deleted and consumers are asked to fill in their details again.
Make sure that the back button is fully functional and does not remove the existing data. Keeping the information saved in your system is beneficial for your customers as well as you.
4. Track the Abandoned Carts
Shoppers forsook their cart? There are no problems. It’s time to go after them. You may not be able to convert all of them, but at least a couple of them would certainly convert. So if the cart abandonment rate decreases by just a small percentage, you will add a huge amount to your income.
How to chase abandoned carts?
You can send email to the customers who have saved their cart for future purchase. One Step Checkout addon store shows the statistics of the cart abandonment. Adding One Page Checkout extension to your eCommerce store can help you chasing abandoned carts.
5. Provide Multiple Payment and Several Shipping Options
Things are now digitalized, so is the payment methods, also called e-wallets. Therefore, having restricted payment choices, such as credit card and debit card, will not be enough. The more choices you offer your customers more are the more chances they will make the purchase.
You just can’t disappoint your customers with limited payment options on the checkout page. And it would be frustrating to see the customer leave the cart due to the lack of access to the preferred payment gateway or the lack of appropriate payment options.
The same is the case with shipping methods. It is good to provide as many shipping choices to your customers if possible. Let them choose the best method for themselves.
One Page Checkout addon comes with multiple payment methods and shipping options. A store admin can choose a specific payment method for any of the shipping mode or vice versa. One Step Checkout addon has a setting for customizing the payment gateway and shipping methods.
6. Simple and User-Friendly Checkout
A long and bulky checkout form is one of the main reasons for the abandonment of a shopping cart. Once a shopper is on the checkout page, he needs to complete the process as soon as possible. The longer you get your customers to sit, the higher the chances of cart abandonment.
Keep your checkout form quick, easy, and clean. Avoid filling it with needless components. Only ask for the details you need. To make your visitors’ checkout experience smoother, you can go to One Page Checkout module.
The Single Page Checkout addon puts all checkout fields on a single page and helps customers to check-in easily. With One Page Checkout addon, you can make some fields optional for your customers and add a custom field to know more about the customer’s behavior. Knowband offers One Page Checkout module which is available for PrestaShop, OpenCart, Magento, and Magento 2 platforms.
The most expected reasons for cart abandonment are higher Shipping price, compulsory Sign-ups, lack of multiple payment and shipping options, lengthy and complex checkout forms an unsatisfactory return policy.
To curb the cart abandonment you can add One Page Checkout module to your eCommerce store. Adding this will remove all the hurdles from your checkout page. Now optimize your eCommerce store and try to cover every possible area which can lead to cart abandonment.