69.57% of online shopping carts were abandoned in 2019, as Baymard Institute reported. Shopping cart abandonment can create problems for you, as a merchant, so you should take the right steps to reduce its rate.
This article will help you with important tips concerning eCommerce carts abandonment. Also, you’ll learn where you can find the right merchant processing services for your business.
eCommerce Shopping Cart Abandonment
Shopping cart abandonment is when potential customers initiate a checkout process for making an online purchase but stops the process before completing the purchase. Quite naturally, the bad news is that a lost sale means you lost a customer.
According to Baymard Institute, the top three reasons why customers abandon their carts included the following: slow delivery, a complicated checkout process, and the need to register for an account.
So, you should constantly monitor your cart abandonment rate as this metric will help you gain a better image of customer conversion rates and revenue.
How You Can Prevent eCommerce Carts Abandonment
Let’s go through the basic recommendations concerning cart abandonment so you can retain your customers and grow your revenue:
- Lack of the Preferred Payment Options
People making purchases online want to use payment methods that are most convenient for them. So, you should offer multiple payment methods to your customers.
Consider working with a reputable payment expert that’s dedicated to offering an unmatched experience to merchants in terms of payment technology. Look for a payment expert that allows you to manage global payments across a single platform. This is one way you can use to prevent the abandonment of eCommerce Carts and raise revenue.
- Don’t Complicate the Checkout Process
Offer a simplified checkout process on your website. Don’t ask your customers to enter tons of personal information before buying an item. Don’t force your customers to sign up for an account to complete the transaction.
- Offer Incentives
Offer your customers an incentive for making a purchase from your online store
- Provide a Clear Image of Charges
Clearly display your additional charges so the customer can know all the details before starting a purchase process.
- Make the Cart Visible With the Remaining Items
Make sure your customers can see the left items in their shopping carts when returning to your website.
- Tell Your Customers About Quantity Limits
Be upfront about quantity limits. Online shoppers want to know about the limited availability of products beforehand. As a result, you’ll eliminate customer frustration.
- Offer Exceptional Security
One of the top concerns that customers have is whether their sensitive information is protected or not. So, offer the highest level of security and fraud prevention.
Steps to Reduce Online Cart Abandonment Rate
If you don’t take the right measures, your website visitors may leave you immediately or a few minutes later, after browsing through your products. Make sure to work with a reliable payment expert to offer the best payment processing services to your customers.
Author Bio: Content crafter Alex Wilmont has been active in the payments industry for over 15 years. He lives simply, gives generously, and loves his 2 dogs. His mission is to enhance and innovate the fintech industry for years to come.