Shopping cart abandonment statistics is getting higher and higher each year and it is not a good set of numbers for retailers and online sellers. According to studies, shopping cart abandonment rate this year is higher than the previous year’s due to several reasons.
Reasons for Shopping Cart Abandonment and How to Deal with It
- Online customers are more demanding and security-oriented than before. Customers are entitled to know their rights even in online shopping; this is why you need to disclose some information such as the return/refund policy. This policy lets customers know that they can return the product for a replacement. The return/replace policy should be clear – how long it takes to replace the item and how long can a customer ask for a replacement upon receipt of the item. It is also advised to show the payment scheme to avoid misleading purchases.
- Customers tend to compare. Customers are more likely to go to websites where they get the best deal – product and price wise. They tend to visit other pages and compare prices, quality and packages before completing a purchase. Well, you can’t do anything about it, especially when you are at the ceiling of the product you can offer. Even the usage of the best shopping cart software doesn’t prevent you from abandonment.
- Customers love freebies. Let’s face it. The best way to generate clients in a store is to offer freebies and coupons. And this is also the best way to lower shopping cart abandonment rates. You can make it possible by offering free or lower shipping rate. You can also offer raffle entries and coupons for patron customers and even first time purchasers.
- Hear out your customers. It is an important step in customer service to hear what your clients think about your company, products and the service you provide. This will enable you to identify the areas you need to improve in your business. You can leave contact information within your webpage where clients can send their concern or you can send them an email to see how they want to be heard.
- Disclose your inventory – real time. This will help customers decide how many they need to purchase, especially for products with higher demand. This will also avoid raising the bar of shopping cart abandonment statistics.