Though online shopping has begun to dominate the retail industry, there are still a number of issues eCommerce shops of all sizes face — one of the most challenging being cart abandonment rates. Even if you are able to attract consumers to your site and capture their interest, it’s very common for shoppers to add products to their cart and then leave the site without ever completing their purchase.
Though statistics on cart abandonment can vary greatly depending on the source, Statista found that cart abandonment for retail businesses reached nearly 75 percent in the first quarter of 2018. Even some of the lowest cart abandonment rate statistics still put the average around 55 to 60 percent of all potential sales ending without a completed purchase. Clearly, this issue affects all businesses involved in the eCommerce sphere. While it’s impossible to completely eliminate cart abandonment, there are some critical steps you can take to significantly lower the rate.
Why Do People Abandon Carts?
There are dozens of reasons why shoppers might leave a site before completing a purchase, but research shows that there are a few top explanations for high cart abandonment rates. According to the Baymard Institute, 61 percent of shoppers abandoned carts because of unexpected extra costs, 35 percent left due to required registration and 27 percent bounced after discovering a difficult checkout process.
Regardless of what source you examine, these three reasons are almost always at the top of the list when consumers don’t complete the checkout process. If you’ve noticed that your eCommerce store is experiencing a high cart abandonment rate, it’s likely that your customers are running into some of the same issues. Addressing these three main complaints can drastically improve your rate, but you may want to consider some of the other reasons people abandon carts, like website errors, return policies, untrustworthy websites and slow delivery.
Optimizing For Mobile
You’ve probably heard people emphasize the importance of optimizing your eCommerce site for mobile users time and time again, but this is vital advice to boost your conversions and lower your cart abandonment. An eCommerce blog and resource hub, A Better Lemonade Stand, cites a study by Barilliance, which found that mobile device shoppers were significantly more likely to leave a site without completing their purchase than desktop users.
With nearly unlimited access to the internet at any given time, potential consumers are more likely to browse eCommerce sites from their mobile devices — but with this type of easy access, shoppers expect a quicker, simpler process.
Email Campaigns: A Top Marketing Strategy to Overcome Cart Abandonment
One of the most effective marketing strategies to address cart abandonment, targeted email campaigns can dramatically improve your results. Set up a series of campaign that will reach out to shoppers who added items to their cart but never followed through on purchasing.
According to Digital Commerce 360, emails of this nature have led to over 60 percent of recovered sales. Since many businesses use this method now, you should implement a strategy that stands out from other eCommerce businesses. This could include a desirable discount or try displaying similar products that your customer might be interested in based on the products they left in their cart.
Managing Cart Abandonment With Springbot
Springbot works with all its clients to implement a cart abandonment strategy. If you’re interested in learning more about how our Marketing Robotics™ Platform can improve your cart abandonment rate and raise conversions, contact Springbot for a free demonstration and discover how our expert team can create campaigns specifically targeted for your market.
