According to 2012 Bizrate Insights data of online shoppers, 13.5% abandoned their shopping cart and 14.6% abandoned checkout without completing their order – even more startlingly, 72.0% of visitors abandon before engaging with the shopping cart at all! And often for reasons that are simple to fix. Here, the five most common factors— and the steps you can take to ensure your customers finish their transactions.
#1: 24.7% of cart abandoners (#1 reason for cart abandonment) use the shopping cart to save items they like for later.
Fixes: Create a Save For Later function—or even better—create a price, sale, or low stock alert function so you have a great reason to email customers to encourage them to come back and complete the purchase.
#2: 21.0% of cart abandoners and 14.8% of checkout abandoners (#1 reason for checkout abandonment) claim that they failed to finish their purchase because they ran out of time.
Fixes: Keep check-out limited to as few pages and fields as possible; create a guest check-out option; offer to save information for future purchases; if a cookie exists, auto-fill as many form fields as you can; pre-populate city and state from the zip code; and consider one-step purchasing.
#3: 12.9% of cart abandoners are undecided on which items/colors/sizes to purchase.
Fixes: Ensure product-related content is of high-quality, featuring multiple image views, color options, and sizing information. If you sell apparel, consider adding 360 video, as well as the size and dimensions of the model. We find that putting the size or style of an item in context versus stand alone can help (for example, including the dimensions of a model). Also, consider implementing an iChat personal shopper to answer questions and help make decisions.
#4: 11.6% of cart abandoners found the total cost of the order to be too high.
Fixes: Implement an interstitial throughout the site to capture email addresses, so you can incentivize first-time purchasers with discount codes and reward programs (i.e., 10% off for signing up for the email newsletter). You can also promise early access to sales and other promotions. If someone clicks off the site, trigger a pop-up to capture their email so that you can follow-up and tempt them to stay.
#5: 9.1% of cart abandoners and 8.3% of checkout abandoners balk when they see the shipping fees.
Fixes: Make sure that shipping charges are front and center throughout the site so there are no surprises. Consider free shipping for purchases over a certain amount, for first-time buyers, and for longer delivery times, and then align shipping costs with item weight and size so that service-for-cost is not unnecessarily inflated. Free shipping is the perfect coupon code to create a reason to mail your list and encourage repeat purchases.