Did you know that the typical shopping cart abandonment rate for online retailers varies between 60% and 80%, with an average of 67.91% ( source wikipedia) .
When the numbers are this alarming; the strategy to deal with the issue certainly needs to be multi dimensional. Retailers can still come out with solutions for ( such as price/ features- though they have limited choice in terms of what can be offered in the both given competition). There are a variety of other factors which need attention such as the following :
- Provide free or flat shipping – and make it visible
- Eliminate hidden charges
- Make cart items visible at all times
- Reduce the number of pages involved in the checkout process – One page checkout is best
- Have a wide variety of payment options. Not necessary but would be beneficial
- Give exclusive discount to be used at checkout
- Remind customers of their abandoned carts. Prompt a alert if someone click to away from checkout page. You can offer some discount with alert, this will increase chances of success.
It’s easy to forget that customers scrutinize every move they make once they reach the checkout. Every field, every bit of copy, every logo, is scrutinized and processed, even if only on a subconscious level, especially if they’ve never bought from you before. As you can see, these tips aren’t just for improving conversion rates, they help make for a better customer experience as well.
Understanding this, if you’re proactive in finding ways reduce fears, increase trust, and reiterating the reasons people decided to buy from you, you just may be able to get more people moving from the checkout to becoming an actual customer. By applying even just a few of these tips to your shopping cart, you might see your sales increase, while providing a better, easier online shopping experience for your customers as well.