As you know E-commerce developed drastically in previous years and it is still growing with lightning speed. And if we compared the store revenue and customers, it is increasing every year by a handsome amount. Also, the sales of retail e-commerce became 2.034 trillion across the world which is a 24% increase than the previous year. This sounds huge and big win for e-commerce store owners. People have left the traditional way of shopping and adapted to this new trend of online shopping by getting online. But all these store owners become crybaby when it comes to shopping cart abandonment done by their customers. Which is growing every year by 69% of customers who have left their shopping carts & without completing the checkout process. This is the common problem faced by all Ecommerce store owner and it makes them scratch their heads that what went wrong that leads the customer to abandon their shopping cart.
We have researched and analyzed several Magento stores and we have found various reasons behind Shopping cart abandonment. And here are some of the most common reasons among them.
Store loading time: If your site takes it too long to process, then surely your customers will lose interest to visit again.
Poor User interface: User interface is the first impression of your Ecommerce store and it is one of the important factors to turn your customers and returning one. If your store design seems to complicate and it makes hard to navigate for store customer than it increases chances of abandonment and they will never return back to your store. So, make sure your store’s design is simple yet attractive.
Surprise Charges: Not every surprise is good. Because these additional charges increase product price and it affects customer’s willingness to buy the product and increase the chances of leaving the cart.
Window shoppers: According to the survey, 40% of people are just browsing your store and they aren’t interested in buying.
Long/Complicated checkout process: The more your store checkout process contains steps and ask for the information the less interest your customer will show to complete the checkout process. So, keep it easy.
Above are the some of the common abandonment reasons, now it’s time to optimize Magento store the way you can reduce the cart abandoned rate.
1. Optimize your Store for better User interface & Clearly state Extra charges.
These are the common reasons which you should take care so that you can focus on your marketing strategies. Because 30% of mobile users just walk away without purchasing from your store just because of poor shopping experience they have faced. This is a quite high percentage that needs to be worked on. Also, make sure the additional charges are not too high and your customers are already aware of it. If the customer is aware of additional charges they will not get disappointed at the end.
2. Set Automated Abandonment Cart Emails.
Sometimes, the customer gets preoccupied with other things like phone calls or get busy with their work and in between that they just forget to complete the shopping. Sending automated Reminder about products will help to encourage them to complete the store checkout process. You can also personalize cart abandonment email to encourage customer and give them assurance of your services on which they can rely on.
3. Offer the Free shipping.
93% of people get encouraged to buy more products when they see the label of “Free shipping” without worrying about shipping charges that cost high. Because we all hate paying shipping charges or additional charges that make products too heavy for our pockets. It is one of the proven marketing tactics or set reasonable shipping charges which your customers pay happily.
4. Play the Scarcity game with your Customers
When you let your customers know that their favorite product is on sale or about to go out of stock in some time, it increases the chances of buying in no time. This creates fear in mind of people who really want to shop and this strategy works great for that. These leave your customers buying products without having second thoughts in mind.
5. Don’t make it compulsive to have an account.
The most irritating thing for visitors or new customers to create an account and purchase the product. Because your customer will always in hurry and wants to shop product in no time. The more you ask for information, the chances of buying the product decrease. To reduce chances of abandonment, you can indicate steps or display a cart progress bar at the top or accept guest orders without creating the account.
6. Lure them with Surprise Discounts or Offers.
People love getting discounts on products and it feels good when it offered exclusively or unexpectedly. Offering a festive discount, Seasonal sale or offering product at the lowest possible price, make your customers feel special and keeps they waiting for more.
7. Provide Convenient options
Payment options are powerful enough to make or break your business, so serving multiple and easy options to your customer is must and your customer always loves their convenience.
8. Quick Support & Easy Returns.
As the store owner, your responsibility of providing support is equal to offer after support for the products your customer has purchased from your store. Because your one happy customer shares his/her experience with other shoppers and this word of mouth is so important for your customers. Also, providing quick support helps you to stop your customer and convince them complete checkout process by resolving the questions they have. You can also add some important trust factors highlights to your product page or cart page.
These were some tips which will surely help you to optimize your Magento store and reduce cart abandonment rate. I hope this works great to your Ecommerce store. Increase in even a small percentage of revenue by implementing these tips will make my blog fruitful. Feel free to comment below any queries regarding this I’ll try my best to give you an appropriate response.