How often do you leave your full
shopping cart in a supermarket? Never? Once or twice in your life? So
why so many online customers (cart abandonment rate averages over 65%
according to Baymard Institute) actively fill up their shopping carts
and never complete the transaction?
Here are the top 10 reasons we consider to be the most important:
1 Window shopping
Your customers are window shopping. If
your visitors’ intention is to kill some time, it’s not that easy to
persuade them to make a purchase. However, if your store stands out from
your competition, there’s a chance that the today’s accidental bored
visitor might become a real customer tomorrow.
2 Planning future purchases
Your customers save products in their
shopping carts in order to be able to buy them later. Maybe they are
short of time or money to buy the product now. But they are more likely
to be back to their carts later. Your kind abandoned cart alert and a
button “Save for later” in a cart most probably will convert these
abandoned carts into sales.
3 Looking for the best deal
Sometimes customers go through the whole
process to the checkout page to see the real price of their purchase
with taxes and shipping costs. Sure, they have already done the same at
your competitors’ stores and will continue until they find the best
price and conditions. In this case, a prompt abandoned cart reminder
that includes a special offer might increase your chances for
conversion.
4 Hidden costs
The price at the checkout is much higher
than on the product page. Having low prices and then just slipping
added fees in at the last moment is bad practice. Do not misuse hidden
costs and charges. By stating all additional costs as early as possible
in the ordering process you will most probably create the image of a
reliable and honest retailer.
5 Unfriendly store
There are several ways to test your
customers’ patience. Your checkout process may be too long, or shopping
cart pages load slowly, or your store requires registration and filling
fields that are unnecessary and unrelated to checkout process. By
simplifying the purchase experience you can lead your customer to a
completed transaction. If your checkout process is multi-page, do not
forget to place links to each section. It's also a good practice to give
clients a progress indicator so they know where they are. Respect
returning customers. Auto-fill forms based on cookie tags will
definitely save their time, making the checkout process more pleasant,
thus making the conversion more likely.
6 Technical issues
There might be an unexpected breakdown
of the Internet connection, system errors or bad links. The customer is
too upset or even devastated to go through the whole process again.
Provide your customer with the opportunity to recover the cart with just
one click.
7 Suspiciousness
Are you ready to share your credit card
details with a stranger? Why should your customers be? Ensure them you
have a secure connection (Secure Sockets Layer, indicated by a https://
address and associated lock icons in browsers) and point out clearly
that you have taken some security measures.
8 Distracting noise
Flashing and buzzing banners, ads and
other information on the Checkout page may distract attention of your
customers from the key process you want them to perform unless these
elements are directly related to the purchase (for ex. error message pop
up or a cross-sell offer)
9 Lack of transparency
The customers may be half way through
the checkout process and still have no idea who they buy from. Assure
them you are a reliable partner: place your guarantee and return
policies prominently, display contact information at the top of the page
– every page, place a link to a company profile page easily accessible
from the cart. Be open and helpful. Give customers all options of
communications and assistance: phone, fax, email, livechat , Skype, etc.
Do not hide!
10 Limited payment options.
The worst case scenario is when your
customer is willing to buy, but you can’t accept the payment. Give your
customers as many payment options as you can. Accept all major credit
cards, online checks and integrate major payment providers so they can
find the one that suits them.
Even though it’s unlikely to raise
conversion rate to 100%, all retailers aspire to keep it as high as
possible. Taking measures to minimize the number of carts that get
abandoned is a step that takes you closer to that goal. Recovering the
carts that do get abandoned is the next step.
You are having a magento
shopping cart site, you don’t want customer to lose time for checkout
with a lot of of steps. You want your site to have easy and simple
checkout page for customers, it’s exactly our One Step Checkout Extension
One Step Checkout Extension -All steps on a single page
More Reference: One Step Checkout Extension
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