How To Improve Online Shopping Cart Abandonment Rates
If you operate an ecommerce website then the frequency of your shopping cart abandonment rates is likely to be high on your list of major frustrations.
Imagine getting a customer all the way to your checkout page with a cart full of products or services – only to have them change their mind at the last minute and quit the order!
According to a recent report by the e-tailing group, nearly 60% of US online retailers, experience shopping cart abandonment rates above 20%.
A study by PayPal and comScore also found that 45% of US online shoppers had abandoned their shopping carts, multiple times, in just three weeks. The average cost of abandoned goods in those shopping carts was $109. If you do the maths, there would appear to be a significant amount of potential revenue going begging for online retailers, which is obviously cause for concern.
So the question every online retailer should be asking is “Why are customers abandoning my online shopping cart?”
According to the report the main reasons for abandonment are as follows:
- High shipping charges: 46%
- Wanted to comparison shop: 37%
- Lack of money: 36%
- Wanted to look for a coupon: 27%
- Wanted to shop offline: 26%
- Couldn’t find preferred pay option: 24%
- Item unavailable at checkout: 23%
- Couldn’t find customer support: 22%
- Security concerns: 21%
By making relevant changes to your ecommerce website, online retailers should be able to deal with these issues and improve the shopping cart abandonment rate. Even the 36% with ‘no money’ might be persuaded to purchase a product or service if a discount is offered at the point of abandonment.
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November 10th, 2009 at 17:29
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December 22nd, 2009 at 05:45
How do I integrate Amazon Overnight shipping for one of my personal websites based on CS cart?
December 24th, 2009 at 07:20
I’m afraid I am unable to advise you on this as I have no direct experience of Amazon. I would recommend you contact their tech support team who should be able to help you.
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