Abandoned Shopping Carts are a challenge for every online store.
You’ve done the hard work of getting people to visit your store and pick out a product, but they leave before completing the checkout process.
The good news is that there is a lot you can do to reduce abandoned carts and get more sales from your existing traffic.
In the guide, we will explore what an abandoned shopping cart is and why it matters.
We’ll also reveal five strategies to reduce cart abandonment and boost online sales.
Let’s dive in.
What Is an Abandoned Shopping Cart?
An abandoned shopping cart is a term to describe a lost e-commerce sale. The online shopper visits your site, adds an item to their cart, but leaves without completing the purchase.
Something causes them to abandon the purchase before or during the checkout process.
Cart abandonment rate is a crucial metric for e-commerce stores. A high abandonment rate shows there could be an issue with your store that is costing you sales.
Why Is Cart Abandonment an Issue?
No matter which marketing channels you use to generate traffic, it costs time and resources to attract people to your e-commerce store.
If your store has a high cart abandonment rate, you’re wasting your advertising dollars and SEO efforts on traffic that fails to generate sales. You could have a killer Facebook Ads campaign and great branding, but you’re not closing sales.
Here are some key statistics on the importance of cart abandonment:
E-commerce stores generally have a higher cart abandonment rate for mobile users. According to Barilliance, 85.65% of mobile shoppers abandon their carts compared to 73.07% of desktop shoppers.
This difference in cart abandonment rate reveals a significant trend. Shoppers using a smaller screen are less likely to complete a purchase.
Mobile e-commerce is now responsible for 65% of all e-commerce traffic. That’s why optimizing for mobile is crucial for reducing cart abandonment and staying competitive.
Tools & Strategies to Fix Abandoned Shopping Carts
We’ve covered what an abandoned cart is and why it matters, so what can you do to reduce cart abandonment?
There are two ways to overcome this challenge.
You can optimize for conversions so more people complete the checkout process.
You can recover abandoned carts by encouraging shoppers back to your store after they have left.
Here are the best tools to fix abandoned shopping carts and generate more sales.
Email Recovery Campaign
There are lots of reasons why a shopper might abandon a cart. Some of these are within your control, while others are nothing to do with your website.
Whatever the reason for cart abandonment, you can recoup some of those lost sales by implementing an email recovery campaign.
You can send out a recovery email within 24 hours of the shopper abandoning the cart, encouraging them to complete the purchase. According to SaleCycle, the average open rate for these types of emails is around 50%, with a clickthrough rate of 6.5%.
If 1,000 people abandon their carts, you can recover around 65 of those sales through a simple abandoned cart recovery email.
You can make your email more compelling and increase conversion rates by providing an exclusive discount.
One of the disadvantages of e-commerce is that there is no in-store sales assistant to answer customer questions. Before an online shopper is ready to commit to a purchase, they want to know the product details, the refund policy, and the shipping and payment procedure.
A live chat feature can be an effective way to provide fast answers to customer queries. You can ease customer concerns and help people overcome barriers to purchase with a live customer service representative or an automated chatbot.
You can also pre-empt common customer queries and answer them in your product descriptions and FAQ page.
According to research by Baymard, 24% of people have abandoned a purchase in the last three months because the store wanted them to create an account:
Customer data can be a powerful asset for future marketing campaigns, but you don’t want to lose sales by forcing customers to provide this information.
When you make customers create a new account, you put more steps between the user and the conversion. Ultimately, this leads to higher cart abandonment as people get frustrated.
The best way to overcome this barrier is to offer a guest checkout option. By making it as easy as possible for users to convert, you reduce the chances of cart abandonment.
Streamline the Checkout Process
A complicated checkout process can turn away customers and increase cart abandonment.
Your checkout process should consist of a maximum of 3-4 steps. You can use direct CTA buttons on each checkout page to make it clear what users should do next.
Amazon is the world’s largest e-commerce retailer, and it dedicates a huge amount of resources to optimizing its checkout process for conversions.
In the example above, you can see the checkout consists of three pages. As the shopper progresses through the checkout process, the number of elements and options available on the page becomes more restricted.
The final page of the checkout is focused entirely on conversion. The navigation options are removed and the “Buy now” CTA buttons are the most eye-catching elements on the page.
Amazon also does a great job of using consumer data to make super-relevant product recommendations. According to McKinsey, 35% of Amazon’s total sales come from its product recommendation engine.
You can find out more about personalization and how to use it in our guide, Make It Personal.
Security Badges & Social Proof
People won’t buy from you if they don’t trust you.
You can boost customer trust and reduce cart abandonment by incorporating social proof elements. Social proof encourages shoppers to trust you by showing what other people think about your products and brand.
For example, adding customer reviews and star ratings to your product pages can encourage shoppers to complete a purchase.
Shoppers also need to trust you with their personal and credit card information. You can boost trust by including recognized payment gateway logos on your checkout pages and ensuring your store has an SSL certificate.
This certificate shows that your website has HTTPS encryption and that all data sent between the shopper’s web browser and your store is secure.
Optimizing your store to reduce shopping cart abandonment is one of the most cost-effective ways to generate more e-commerce sales.
You’ve already done the hard work and got people onto your website. By making your checkout process more conversion-focused and implementing the right tools, you can generate more sales from your existing traffic.
Even a slight reduction in your cart abandonment rate can make a significant impact on your sales revenue over time.
Need some help reducing your cart abandonment rate, schedule a consultation with our team of marketing experts here at Ogno.