Posted on August 07, 2020 by Apeksha Khanna | Blog | Total Hits:
Imagine you are browsing a section in a mCommerce App. You intent to buy, so, you place the product in your cart. The moment you are checking out, you receive a long-form asking for your details. Seeing the form, you suspend the process and leave the app.
We all know the slightest of interruption makes user drop out of the order completion process on web or mobile.
According to a report by Statista, 69.5% of online stores globally face shopping cart abandonment by users. Even though the offers and navigation to products are good, users leak from the payment funnel.
What is the Optimum Cart Abondment Rate?
Based on the Statista research, the average cart abandonment rate is 69.75%. Ideally, you’ll want to optimize your cart abandonment rate lower than this. However, this is a benchmark for average performance. If your abandonment rate is around this number or a little bit above, then you need to optimize your app to get higher conversions.
Reasons for Cart Abondment
eCommerce Entrepreneurs must know the reasons for cart abandonment to use these key insights in their strategy. Note that you will never be able to fully eliminate cart abandonment. Let’s look at cognitive and behavioural reasons that trigger high shopping cart abandonment rate:
● The long and confusing checkout process with many steps forms fills.
● Hidden shipping costs, taxes and additional charges that customers didn’t anticipate at the time of checkout.
● Mandatory account creation before checking out is a barrier to purchase.
● Lack of multiple payment options and bank integrations.
● Product comparison by shoppers to find a better deal make them add items to a cart.
● No clear return policy makes the customer abandoned the product in the cart.
● Privacy and security concerns with financial and personal information.
● Long delivery waiting time.
● Site speed and app performance issues before entering the payment gateway.
● Adding the product to cart for later purchase.
● Dropouts due to compulsory logins.
How to reduce mCommerce cart abandonment rate?
To reduce the shopping cart abandonment is to step in the customers’ shoes and think like one. Generate your perspective of why you would drop off just before the checkout? We here provide generic details but you have to create above it to build effective cart abandonment strategy.
These common yet important approaches will help you optimizing trouble spots to protect your conversion rate. Let’s look at them:
1. Provide guest checkout options
Allow shoppers to guest checkout when they are not logged in or don’t have an account. Remember how compulsory login made you leave the process. Enabling guest checkout will allow new customers to browse and purchase the product without any hassle. If you want to collect emails and other contact information for promotional purposes, you can ask shoppers to save their checkout information at the confirmation page step.
Accept that shoppers are not willing to log in as they are on your page for product comparison. Allowing them to make an instant purchase and later encourage users to sign-up for a personalised experience.
2. Include thumbnails of items in cart
Including thumbnails of products throughout the checkout process can be a way to remind customers of their current items in the cart. During the search process, customers can see items they have left in the cart and did not complete the purchase. Product thumbnails are useful for keeping these products top of mind of customers during the entire online purchase process.
3. Device optimization
Another thing you need to consider is the devices your customers are using to make the purchase. Often users with older device versions face challenges to browse your app like frequent crashes. Such errors often make them drop the checkout for double-charging of the product. Making the mobile app bug free and highly responsive on all devices is your responsibility.
Optimize your website for mobile shoppers. Often shoppers who browsed the product on your app wish to make the payment on site. It is equally important to make your website friendly.
4. Add Wishlist
We all know we have a long list of items we wish to purchase but at times we only proceed with few because of product deals. Customers often add the products in cart which they wish to purchase later.
Allowing users to wishlist the product help them save the product for a future purchase, and reduce the cart abandonment rate. Smart wishlist is also useful at the time of purchase. If at the checkout process, the user wants to drop a product for later, he can simply shift it to wishlist items.
Another scenario is where the product is out stock. Wishlisting the item notify customers when their favourite is back in stock. Further, customers can share their wishlist items with their friends and family. Wishlist is a great way to enhance your revenue.
5. Easy Navigations
Make switching between shopping cart and search bar easy and quick. Customers want to quickly add items to their shopping cart and get back to browsing to search for more products. The fewer clicks to shuffle between cart and inventory products, the higher will be the chances of completing the transactions. Make it effortless to browse and drop items in the cart.
6. Quick sign-ups
As mentioned earlier, users drop off when they are forced to create accounts with long forms. Thus, it is important to make sign-ups quick and smooth. Integrating APIs make signing in quick. Log in with Google or Facebook is the most common ways of quick signups. Integrating APIs, also provide buyer information, which you may need to reach out to them with your offers on the mail or social handle.
If you wish customers to provide you with the details, then, ask only important details. Once they sign up provide an option to create their profile to fill personal information.
7. Offer several payment options
Customers who are opting for online transactions often drop off the payment process because of limited payment options. Partner with banks and wallets to support payments. Customers now have access to multiple payment options including direct bank transfers, digital wallets, and credit cards. Limiting the payment options can turn down your customers.
8. Eliminate surprise costs
Often when shoppers reach to payment gateways, the cost of product increases of shipping cost and taxes. This turn off the buyers. Disclose the additional costs early in the funnel. Big brands like Amazon, Flipkart mention the shipping charges in product pricing details. So, the buyer knows what additional cost they have to pay before moving to cart.
9. Optimize page load speeds
Imagine you are about to make the purchase but the page did not load to payment gateway. The last thing you want is for a customer is to place the order successfully. Having a fast-loading page can satisfy your shoppers’ demand for a speedy checkout experience. The good app experience they have will make them revisit and buy the product from your app.
10. Offer live support
Users often moving to buy the product have doubts related to items, discounts or payments. Offering live support help them immediately ask the question and move ahead with the purchase. Using cart abandonment data, identify areas where shoppers are more likely to drop off and allow users to chat with a customer support rep to reduce abandonment.
These eCommerce App solutions are easy to implement and drastically reduce your cart abandonment rate. Implementing these techniques can help you drive more conversions.