Shopping cart abandonment is the one of the biggest headaches facing eCommerce sites. It signifies a major opportunity cost to business. A missed opportunity for businesses who cannot afford those losses amid the current economic climate. It is also an indicator that the marketing or eCommerce strategy is not quite right. An up to date systems integration takes customer engagements and cart abandonments into account. Cart abandonment is an indication of inefficiencies. A successful eCommerce strategy uses effective cart abandonment strategy to maintain long term profitability. Moreover, more than 70% of online shoppers abandon their cart. This is familiar to all online shoppers. 76% retail shoppers, 82% of travel shoppers and 65% of finance shoppers abandon their cart.
Strategies
Effective email strategies are fundamental to prevent cart abandonment and increase conversion. Crucially, emails must have some key components to ensure this. An attractive subject line is key to this. More than 60% of customers decide if they would open their email based on the subject line. A clear call to action must also be included in the email. This could be in the form of a call to action link within the email. Call to action like return to cart or view cart have become normalized among big eCommerce sites. They have proven to be effective. Offering coupons and attractive discounts online. However, almost every eCommerce business provides discounts on abandoned items. Discount benefits must stand out without compromising your profitability. Customers normally plan on coming back to the abandoned cart but they just forget to.
Considerations
In conclusion, to mitigate shopping cart abandonment, sellers should consider certain factors. Firstly, one of them is recognition. 25% online shoppers indicate they would abandon a purchase if the website does not recognize them. Remembering preferences and details greatly mitigate cart abandonment. Secondly, the speed of an eCommerce site is vital. A fast checkout process greatly helps in reducing cart abandonment. Payment and address information can be pre-filled for returning customers. Lastly, this enables buying with one click. Website speed can be the difference between buying and cart abandonment.