The
incidence of Shopping cart abandonment—shoppers browsing, selecting, and placing
their purchase items in online shopping carts, but leaving without paying—is
one exasperating thing for online retailers. This is indicative of a lower
conversion rate and denotes that additional effort has to be put in to achieve
the expected business results.
Significance
There
has been considerable enthusiasm on the part of buyers in opting for online
purchase mode in the recent past. People love to check out availability and
select what they prefer, using the convenience of the Internet—after all, who
doesn’t like shopping—and added with the comfort of sitting in their living
room and acquiring things with a few simple mouse clicks more than satisfies
people’s needs. But the gray side of the whole process is abandonment of the
purchase process at the payment stage of the transaction—shopping cart
abandonment.
How Businesses Suffer
due to Shopping Cart Abandonment
Most
of the people who ditch their purchase process without completion tend to go
away looking elsewhere, or entirely giving up the purchase intention. And a
major portion of those who are not going through the complete process end up
non-returning buyers as well. This proves to be quite unproductive and bad for
online store owners.
Why Buyers Abandon the
Online Shopping Cart?
There
are varied reasons that cause buyers to stop mid-way through their purchase
process and ditch their shopping cart, high shipping costs and comparative
pricing being the major ones. The common factors that drive potential buyers
into abandoning their shopping carts are listed below:
- Complicated Check out process
- Security features not up to the
expectations
- Product Information not properly
displayed
- Shipping costs being displayed
at later stage
- Registration & account
creation made mandatory
- Lack of convenient payment
options
- Not being able to get
promotional offers and coupons
- Noncompetitive Pricing
How to Bring Down
Shopping Cart Abandonment?
The
following features help in avoiding the last minute ditching of the purchase
process:
- Displaying Shipping Charges in
the Initial stage of the process
- Timely offering of Discounts
and Coupons
- Providing comparison shopping
facility in the website itself
- Offering better privacy &
security to buyers
- Being flexible on Return
Policies and being user-friendly
- Providing editing facility to
the shopping process
- Optimizing the Check out
process
- Offering reasonable shipping
charges and maintaining competitive pricing
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