One of the biggest challenges that e-commerce business owners deal with at present is none other than shopping cart abandonment. The more the shopping cart abandonment, the more the loss. 

No matter whether it is a big-sized company or a small one, the issue of shopping cart abandonment is everywhere. Some perfectly designed online stores witness the products being left in the cart. 

But no more worries as e-commerce business owners can easily resolve this by getting into its depth. By engaging your consumers and compelling them to buy the items, the business owners can maximize their conversions. 

Before working out on reducing the shopping cart abandonment rates, the business owners should get into the concept of shopping cart abandonment as a whole, its reasons, and how to resolve the same. 

Go through this post to know everything about shopping cart abandonment, its stats, and popular ways to reduce it. 

Shopping Cart Abandonment 

Not many business owners are familiar with the concept of shopping cart abandonment. It refers to the process of leaving the products in the cart itself and not buying them. The customers do add the products to the cart but due to one or other reasons, do not complete the purchase. 

Due to the high rates of shopping cart abandonment on websites and mobile apps, e-commerce business owners are incurring huge losses. Consequently, the business owners are looking for a viable solution to this. 

Causes of Shopping Cart Abandonment 

Many e-commerce stores are wondering what might be the possible reasons for shopping cart abandonment. So if you are also looking out for the same, then we have got you covered. Let’s have an insight into the possible reasons leading to shopping cart abandonment. 

Complicated checkout process 

The foremost reason for high rates of shopping cart abandonment is the complicated checkout process. There are numerous apps and websites which have lengthy and complicated checkout processes which result in the dissatisfaction of the users and they end up leaving the store without making the purchase. 

Sign up required 

There are numerous apps and websites which ask the users to sign up on the website and app. Consumers cannot purchase by creating an app and signing up on the e-commerce store. All this process is quite time-consuming which leads to a bad shopping experience and exiting the store without completing the purchase. 

Unclear pricing 

If your e-commerce stores have unclear pricing, then this might be one of the reasons for your customers not completing the purchase. This might make you lose your customers and worsen your e-commerce business. 

Extra shipping charges 

There are e-commerce stores that levy extra charges on them during the checkout process in the form of shipping, taxes, and delivery charges. But sometimes this creates frustration in the consumers and they leave without shopping. 

Shopping Cart Abandonment Stats Retailers Must Know 

Understanding the behavior of modern consumers is crucial for you to fix the rising shopping cart abandonment rates as this will assist in bringing sales. Let’s go through some shopping cart abandonment stats and facts which are imperative for the retailers to know. 

Around 9 shoppers leave due to a slow site 

Out of every 10 shoppers, 9 shoppers leave without purchasing if the site is too slow. For most of the online retailers out there, website loading speed is a concern for many. Even if there is a 3-second delay in your site, then the conversion can be reduced by nearly 70%. 

Usually, the consumers run out of patience when they are shopping. And at that time, if the site is slow, then they’ll abandon it right away. Consequently optimizing the speed of the site is imperative for the retailers as this will reduce your shopping cart abandonment rate. 

Invest in retargeting ads 

One way forward for you is to invest in e-commerce marketing and retargeting ads to optimize your cart abandonment rate. By doing these ads, you can easily market the products to the potential users and assist the retailers to retain and bring back more customers. 

On average, it will generate a rate of interest of nearly 1300% by using such ads. Above all, it will also bring qualified leads to your e-commerce business. 

$18 Billion losses due to cart abandonment 

ECommerce brands and businesses might not be familiar with this that the overall losses that occurred due to the cart abandonment are nearly $18 Billion. It has become a serious concern for e-commerce businesses. 

Another worst thing is that by leaving your products, the customers are more likely to purchase from your competitors. Consequently, instead of regretting it, it is much better to optimize the cart abandonment and have a proper strategy to deal with the same. 

Cart abandonment in Mobile apps vs website

The next thing worth knowing for the retailers concerning the shopping cart abandonment rate is the rate in mobile apps and websites. Whether shopping cart abandonment is high in mobile apps or websites has to be figured out. 

As per the recent statistics, the cart abandonment rate is higher in mobile apps than on websites. Around 80% of consumers leave the products in the cart itself when it is the mobile apps. But this rate is only 73% on desktop sites. 

Due to the smaller screens, the customers are more prone to leave the products without completing the purchase. Some of the reasons might be unclear navigation, poor design, and less speed of the mobile apps. 

Consequently, to maximize the conversions, you need to focus on creating a great mobile experience and building an effective mobile presence. 

High rate due to creating an account 

Around 24% of customers abandoned a cart when they were asked to create an account. Among all the reasons, it is the most significant one. It is because consumers are bent on saving their crucial time and shop in a hurry. 

While purchasing a product, no customer likes to fill out and complete the entire registration process while making a purchase, and that too when the competitors have the option of letting their customers purchase without creating an account. 

So, eliminate the process of creating an account and optimize your shopping cart abandonment rate. A quick checkout option is what will get you high conversions. 

Extra costs leading to high abandonment 

Do you charge extra shipping from your customers? If yes, then this might be one of the reasons for the high shopping cart abandonment rate. No one likes the final price going up by adding up the taxes, shipping charges, and other things. 

As per the current statistics, around 48% of the customers abandon a cart due to the extra charges applied at the checkout. The key to fix this is by being transparent with your customers. Even if there is a certain difference in your and the competitor’s prices, then make it look transparent to your customers by revealing to them the reason for the same. 

High prices lead to high abandonment 

Is the total cost of the product too high on your e-commerce store? The high cost might be one of the reasons for the high cart abandonment. Around 25% of the customers leave the products in the cart itself due to this reason. 

Another problem faced by the shoppers is that they don’t have any easy method to calculate the total billable amount unless they arrive at the checkout. Before this turns into something worse, it is crucial to figure this out and solve it. 

Sites without security also witness high cart abandonment 

The e-commerce business owners should look at tier security reasons as otherwise, this might make them lose their customers. Online shoppers will only purchase if they have full faith in your brand. 

Otherwise, around 35% of individuals prefer to leave the site if they are unable to find the security badge on it. 

Final Say 

By going through the above-mentioned stats and information regarding shopping cart abandonment, it must be clear that these are extremely high. One and the other thing frustrates them and they leave it right away without caring much about it. Reach out to Skilled Pragati to form a well-planned strategy and lower your shopping cart abandonment rate.