How To Reduce The Occurrence Of Abandoned Shopping Carts And Lost Sales

How To Reduce The Occurrence Of Abandoned Shopping Carts And Lost Sales They were going to purchase, and then they didn't. This is a typical occurrence for a lot of online businesses – they almost made a sale and earned money, but their customer abandoned the transaction they had gotten started on, for some reason. USD 3 trillion 67.91% In March 2014, a Web research company in the UK reported that 67.91% of online shopping carts were abandoned. In April 2014, a study revealed that global retailers lose as much as USD 3 trillion a year purely from abandoned carts. These are alarming numbers for potential sales that were not completed, but what could be the reasons behind shopping cart abandonment? The top five reasons are: #1 56% said they were surprised by unexpected costs #2 37% said they were merely browsing #3 36% said they found a better deal somewhere else #4 32% said they found the overall price too steep #5 26% said they really just opted not to buy Other reasons provided were: Complicated website navigation The site crashed The site was too slow Customers had concerns about website security, etc. Given all these, it's apparent that product presentation and design are crucial components in securing conversions, and online businesses that do not direct thoughtful attention to these components are highly likely to experience shopping cart abandonment. The question now is how can shopping cart abandonment be prevented? There are several strategies: Make sure that the shopping site has a clear and easy-to-navigate display of products – people want something that will allow them to be efficient in their transaction. Use the best pictures, lay them out nicely, and provide product information. Use security logos and compliance information to earn the confidence or trust of consumers. Show testimonials, ratings, and feedback from customers. Statistics show that: 00 50% of buying decisions are driven by testimonials Purchases increase by 55% when products have high ratings Display the different payment methods and credit card logos so customers will automatically know if they can use their preferred means of payment on the site. Cash on delivery is making a comeback and this is a payment method definitely worth considering. PayPal eb Y CIFFUS VISA DISCOVER MasterCard Maestro SOLO WESTERNII" 2CO moneybooka.com Display contact details such as phone number, mailing address and email address on the site, because all these bits of information increase the credibility of the website. LiveChat Provide reliable support; perhaps a livechat box with a CSR, Skype contact details, or active Twitter account to assist shoppers with any of the concerns they may have. If the business demonstrates readiness to provide a solution, the customers will stay and complete their purchase. skype SUPPORT 24/7 Make editing the cart a breeze. People change their minds all the time when they're shopping – it's always better to have customers decrease items in their cart than for them to not buy at all. Edit RACK Offer price guarantees and refunds. Getting your customers to fully engage, by creating a provision assuring them that they will get the best value for their money (or have their money back if they are not satisfied), is a deal-sealer. It's the perfect demonstration of looking out for your customers. MONEY BUARANTEE Do away with the lengthy registration process for customers to complete before purchasing anything. There are many customers that would automatically close a website once they see that they need to complete long registration forms. GET STARTED HERE ENO EYES REGISTER Offer free shipping. This can be a permanent arrangement or a special offer for shoppers who purchased a lot of products. It can be both a marketing tactic and a perk for customers. FREE SHIPPING Make the website responsive, meaning it can easily display on a wide range of Internet- connecting gadgets which a lot of people nowadays prefer to use. 22.2% of men in the US use their smartphones for shopping, while it's 18.2% for women. 20.4% of men shop using their iPads or tablets, while 16.9% of women use these devices to purchase online. Studies also show that lower-income shoppers and certain minorities such as African-Americans and Latin Americans use their smartphones more frequently because it's their primary connection to the World Wide Web. An Even More Proactive Approach to Preventing Shopping Cart Abandonment Send an abandoned cart email. Basically, this is a personalized message and a lin populated shopping cart. This serves as the business's final attempt to convince the buyer to check out. This is only possible, though, if the customer actually provided an email address (in the registration form) prior to shopping. to a pre- Using the automatic ACR or “abandoned cart recovery" system, which is provided by Shopify and some app providers? For Shopify, the ACR S has proven its efficacy by recovering $12.9 million shopify for businesses that opted to use it. The ACR managed to yield a 3.6% recovery rate from the 4,085,592 emails sent during a specific period. 3.6% With the help of the automatic ACR, business owners can make time work for them and recover 4.1% of the "almost" completed transactions after sending an email within 6 hours of the cart abandonment. It's worth 4.1% 3.6% noting that the 3.6% recovery rate is from Shopify's ACR emails. Avoid losing sales through shopping cart abandonment. Let us set up your business's WordPress website and create a positive shopping experience for your customers. http://www.superfastbusiness.com/services/websites/custom-wordpress-theme/ śuperfastbusiness References: http://www.smashingmagazine.com/2014/10/23/reducin g-abandoned-shopping-carts/ http://www.shopify.com/blog/8484093-why-online- retailers-are-losing-67-45-of-sales-and-what-to-do- about-it http://www.ibtimes.com/men-shop-online-just-much- women-shop-mobile-devices-tablets-more-study- 1600592 http://www.sitepoint.com/10-reasons-people-abandon- online-shopping-carts/