25 Winning Strategies to Turn Cart Abandonment into Confirmed Purchases
Have you ever placed an item in your online shopping cart and left the site without finalizing the purchase? If so, take a moment to consider what prevented you from completing the transaction.
Similarly, if your e-commerce shoppers leave without completing the transaction, something must have stopped them too.
The 2023 Cart Abandonment Rate Statistics revealed by Baymard Institute show the average cart abandonment rates across various industries is 70.19%
This means that out of every 100 potential customers visiting your e-commerce site, only 30 will complete a transaction. That’s a massive chunk of potential sales and profits being missed!
But don’t worry…
There are a few ways to lower that cart abandonment rate and boost conversions on your e-commerce site.
This blog post will share 25 winning strategies to transform those abandoning customers into successful buyers.
These strategies are based on proven psychology, marketing, and user experience design principles that can persuade and motivate your customers to complete their purchases. By implementing these strategies, you can boost your sales, revenue, and customer loyalty. Let’s dive in.
Cart Abandonment: The Silent Profit Thief
Shopping cart abandonment is called the silent profit thief as it dramatically impacts the profits of online retailers. It affects e-commerce conversion rates by decreasing the number of completed transactions and raising customer acquisition costs.
For instance, if an e-commerce website receives 10,000 visitors each month, and 5,000 of these visitors place items in their cart, but only 1,500 complete a purchase, then the conversion rate stands at 15%.
Customers who leave products in their online shopping carts show initial interest in the product but later decide not to go ahead with the purchase, leading to a decline in sales.
The severity of this problem is heightened by its frequency, with many customers abandoning their carts for various reasons.
There are many reasons why customers abandon their online shopping carts, such as high shipping costs, complicated checkout processes, lack of payment options, security concerns, or simply browsing without buying intention.
However, not all cart abandonments are final. Many customers may still be interested in buying the products they left behind, but they need some nudges or incentives to return to the website and finish the transaction.
25 Strategies That Turn Cart Abandonment Pain into Conversion Gain
1. Show Clear And Transparent Pricing:
By displaying transparent pricing and shipping costs upfront, customers can make informed decisions, reducing their chances of abandoning their carts.
2. Display Social Proof:
Incorporate customer reviews and ratings on your website to demonstrate social proof that other customers are satisfied with their purchases. This helps potential customers feel more confident in making a purchase.
3. Highlight Your Return Policy:
Ensure that your return policy is displayed and stated on your website. This can alleviate any doubts a customer might have about purchasing from your store.
4. Use Urgency and Scarcity Tactics:
Highlight limited stock or time-sensitive deals to encourage customers to complete their purchase before the item runs out of stock or the deal expires.
5. Offer a Money-back Guarantee:
Consider offering a no-questions-asked money-back guarantee to boost customer confidence.
6. Offer Free Shipping for High-Value Products:
When orders reach a certain total amount, consider offering free shipping.
7. Leverage Video Reviews and Video Testimonials:
Create videos for reviews and testimonials to provide a realistic feel.
8. Make the Cart Easy to Edit:
Ensure the procedure for making changes to the cart is accessible to the shopper.
9. Personalize the Cart Page Messages:
Address customers by their first name to create a more personal connection.
10. Offer Express Checkout Options:
Avoid asking customers for excessive details and provide an express checkout option.
11. Add Logos of Payment Options:
Customers better remember payment options when they see the logos.
12. Show Product Availability:
Be transparent about the quantity of products available. Avoid surprises like “out of stock” for your customers at checkout.
13. Add a Progress Indicator:
Include a progress indicator on checkout pages to encourage customers to complete the transaction.
14. Showcase Compliances:
Display PCI-DSS compliance and other security seals to reassure shoppers that their information and details will be kept safe.
15. Avoid Distractions:
Do not use mailing list pop-ups, social share request buttons, or anything else on the cart page that distracts customers from completing the transaction.
16. Use a Single Domain:
Maintain customers on the same domain and refrain from redirecting the page.
17. Maintain Design Uniformity:
Create a design continuity between the product page and the shopping cart.
18. Limit Cross-selling on the Checkout Page:
Do not pressure customers excessively to buy additional items.
19. Avoid Threaten Your Customers with Strong Words in the Returns Policy:
Never use phrases like “you must,” “you are required,” or “we are not responsible for,” etc.
20. Show the Color, Quantity, and Stock Details Precisely:
Ensure there is no discrepancy between the product on the product page and the cart page.
21. Provide the Option to Add Delivery Instructions:
Allow customers to specify their preferred delivery time or any other instructions.
22. Display Price in Local Currency:
For overseas customers, display the total amount payable in the customer’s local currency, if possible.
23. Include Trust Signals:
Place security logos in a prominent position near your transaction forms.
24. Alert Customers If They Press the Back Button:
Add a pop-up message if customers press the back button or close the cart page before completing the transaction.
25. Adopt Minimalism:
Follow minimalist design principles on the cart page.
Bonus Strategy: Perform A/B testing
A/B testing on the shopping cart page assists in testing various variables such as page layout elements, the checkout process, button sizes, and colors, and the amount of information required, amongst other things. You can significantly reduce shopping cart abandonment rates by enhancing the user experience through constant testing.
In conclusion, cart abandonment is a frequent and expensive issue for e-commerce businesses, impacting their conversion rates and revenue.
However, employing the 25 successful strategies discussed in this blog post can decrease cart abandonment and boost conversions on your e-commerce website.
You can recuperate lost sales and revenue by minimizing cart abandonment and enhancing customer satisfaction and loyalty.
Do you need help getting started? Our shopping page cart optimization specialists are here to assist you.
Begin with a free shopping cart audit and turn cart abandonment pain into conversion gain. Contact us today!