Reducing Checkout Abandonment rate is a common issue every online store faces. You put in the hard work of designing an amazing eCommerce store, creating a beautiful product listing, and taking great photos of your products. But despite all these efforts, an average of 40-60% of visitors leaves before making a purchase.
Abandonment happens when a customer adds an item to their cart but forgets or refuses to purchase that product. It’s frustrating for both you and your customers and can cost you a ton of money. In this post, we’ll talk about several tactics you can use to reduce checkout abandonment rate, boost your site’s conversion rate and increase purchases.
What is Checkout Abandonment and why does it occur?
Checkout abandonment is a phenomenon that occurs when a potential customer abandons the check-out process of your online store.
This first happens at the shopping cart page, and it occurs due to one or more obstacles that prevent the customer from completing their purchase.
It’s a challenge for eCommerce businesses that demands constant attention and creative testing to persuade customers to finish their online transactions.
Reasons Why Checkout Abandonment Occur
Complicated Check-Out Process
Customers will abandon their shopping carts and not return to your site if the checkout process is difficult. Therefore, you must avoid long order forms, data input requirements, and forced registration.
Make the checkout process easier by offering a guest checkout option and automated filling of repetitious information such as shipping and address information.
Ease of navigating improves the user experience, making it easier to place an order. As a result, a poor browsing experience on an eCommerce site makes it harder for customers to discover products and leads to a poor on-site experience.
Include faceted navigation on your online shop for a wonderful navigation experience so visitors can quickly filter down to the correct items. Facets and filters that emphasize crucial characteristics like price, brand, and color selection make it easier for visitors to make a purchase.
A good menu layout with drop-downs assists users in finding items with fewer clicks and can convert surfers into purchases by directing them to popular categories from the home page itself.
A landing page for deals and discounts can also help with navigation by allowing customers to view all discounted sites in one spot.
Hidden Transaction Fees
Visitors will abandon their carts before checkout if they are slammed with unexpected additional charges after spending their time selecting items and loading a shopping cart.
Hiding prices will result in your business losing trust because no visitor is wants to spend their money on a dishonest brand.
56% of online shoppers report unexpected costs as the primary reason they abandon their shopping carts at the checkout.
If your store has an extremely high shopping cart abandonment rate, it may be time to reconsider how you charge for display. You may do this by showing shipping and any other additional prices on the first page of your store to avoid unpleasant surprises at checkout.
Reviews and Recommendations
Every seller, online or otherwise, will always stand behind their product, but whether the product is successful will be determined by what customers say about it.
With no reliable way to test products before purchasing them online, buyers have to trust product reviews to guarantee they make the proper choice.
To prevent being viewed as fraudulent, use authentic reviews from former customers. One effective method for obtaining reviews is to reward users who post product evaluations or suggestions with discounts on their next purchase.
Lack Of Trust To Give Credit/Debit Card Info
The entire concept of online shopping is built around trust. Customers must trust your shop enough to provide sensitive information such as payment information and shipping addresses.
Ensure that your eCommerce platform is PCI compliant (read more about compliance) and shows trust symbols such as Visa or MasterCard clearly. Give your company an actual address and phone number by prominently displaying them. This assures your visitors and removes any doubts about their trustworthiness.
To prevent customer misunderstandings, offer a money-back guarantee and a clear returns policy.
Remember to use social media. Social media is a fantastic tool for gaining client confidence. According to research, 85 % of internet buyers consult at least one social media site before making an online purchase.
Regular, high-quality posts on Facebook, Instagram, and Twitter may help your company create a positive reputation. Make it a habit to engage customers by asking and answering questions frequently.
A recent study revealed that 33 % of eCommerce shoppers will abandon their cart if they encounter delivery issues once or take too long to ship, which is why it is important for ecommerce retailers to explore different ways to significantly improve their delivery process.
Ways to Reduce Checkout Abandonment rate and Increase Sales
Easy UX reduce Checkout Abandonment rate
Excellent UX (user experience) is critical for online stores. Remember that the user’s primary concern is convenience. They should have the impression that their experience is superior to that of a traditional brick-and-mortar business.
On the other hand, making it simple for them to explore the site, browse without using linear navigation, add or remove products from the shopping cart, and use discount or gift card coupons is all part of creating a pleasant online shopping experience.
Keep It Simple
If you want a checkout experience that makes users purchase, keep it simple and secure. Checkout pages are frequently loaded with unnecessary information that only tends to distract the customer from the end goal — conversion. Some examples of friction to a new user during checking out:
- Forced sign up
- Security issues
- Tedious checkout process
The checkout experience influences whether the user completes the purchase or abandons it halfway through.
Compliance & Security Are Crucial to Reduce Checkout Abandonment rate
Customers want ongoing reassurance regarding security and privacy. Checkout pages capture critical payment information as well as personal information. You must demonstrate to them that you are serious about security and will take every action to protect their financial data and personal information.
to gain your customers’ trust, you must meet the following fundamental security & compliance goals:
- Have a Secure Sockets Layer (SSL) certificate.
- Comply to PCI Security Standards Council (PCI SSC) to protect card data
- To maintain internal data security, adhere to ISO, SOC 1 & SOC 2, and MFA requirements.
Online Shoppers Need Convenience
Purchases are not made in the heat of the moment. For instance, they are motivated by experiences. Today’s markets are driven by choice, and your customers have a plethora of viable options to pick from. To thrive, your company must stand out from the crowd. Your checkout performs as well. A compelling experience provides users with more payment options, more payment control, and greater ease during the checkout process.
You should consider the following:
- Multiple payment options
- Support for multiple currency
- Multilingual checkout page
Create A Robust Checkout Capable Of Doing More
We need to consider the checkout solution as a one-stop shop that can meet all of your company’s current and future goals.
For example, your checkout page must be capable of:
- Handling efficiently scenarios with up-selling, cross-selling, adds-on and discounts.
- Calculating international taxes.
In conclusion, checkout abandonment is a common obstacle that results in fewer sales. Fortunately, there are many things you can do to maintain the flow and reduce it by testing different aspects of your checkout process. All of these strategies have the potential to increase sales and eliminate checkout abandonment.
In addition, you can track and analyze your eCommerce data with our easy to use revenue tool. Radix will help you boost sales and reduce churn.
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