In today’s digital world, more of us are making purchases online than ever before. From our weekly groceries to birthday gifts for our nearest and dearest, e-commerce has become a game-changer in the way we shop. As internet access and usage has increased significantly around the world in recent years, many more people are now enjoying the benefits of online shopping resulting in projected global e-commerce retail sales to hit $7.4 trillion in 2025.
While this may be music to the ears of most online retailers and e-commerce stores, many shoppers are still leaving their carts behind before completing their purchases. According to the Baymard Institute, the average cart abandonment rate is as much as 70.19%, highlighting the major challenge e-commerce stores still face.
Overcoming the problems that lead to this significant loss of potential sales is essential for any online business to succeed today. In this article, we will uncover some of the most common reasons why shoppers are ditching their carts and offer practical advice on how to overcome these obstacles.
Decision Fatigue
When presented with an endless array of options, whether it’s products, promotions or payment methods, customers can begin to feel confused and overwhelmed. Rather than taking the time to wade through their choices, customers are likely to lose interest and will abandon their carts. This phenomenon is known as ‘decision fatigue’, where the brain becomes tired and the prospect of expending any more mental energy on making a decision feels burdensome.
To avoid this issue, businesses should aim to streamline the shopping experience for consumers as much as possible. Products and checkout processes should be easy to find and all necessary information should be readily accessible with minimal steps required to complete a purchase. Logical navigation ensures all categories and menus are clearly organized, allowing users to find what they are looking for intuitively and efficiently.
Buyer’s Remorse
When making an online purchase, whether it be lighting products for a commercial office space or high-end gadgets, the fear of making the wrong decision can often set in. This is most likely to happen with expensive purchases when the fear of overspending or missing out on a better deal elsewhere can creep in causing visitors to abandon their carts.
Online businesses can reduce cart abandonment by building trust with the public. By providing guarantees, displaying a clear returns policy and highlighting customer satisfaction through customer reviews and testimonials, visitors can feel confident they are making the right purchase. The use of special offers and discounts which are time-limited can also induce the ‘fear of missing out’ or FOMO, which can urge visitors to complete their purchases.
Unexpected Costs
This ranks as one of the top reasons why online shoppers decide to abandon their carts. Arriving at the point of purchase, customers often find themselves faced with additional costs they did not expect such as shipping fees, handling costs or additional taxes that can deter them from completing their purchases. Not only does this cause them additional expense which they had not factored in, but it also creates a feeling of being tricked or duped into making a purchase, leading to feelings of distrust and frustration.
Online businesses should ensure all pricing and cost information is clear and transparent at every stage of the shopping journey. Making sure customers are aware of their total order costs from product selection to checkout can avoid this problem and significantly reduce cart abandonment rates as well as maintain trust between consumers and the business.
Poor Website Performance
In today’s fast-paced world where customers expect instant gratification, nothing can be more off-putting than slow loading times or crashes. Even a few seconds is enough to deter shoppers causing them to abandon their carts and look elsewhere.
To avoid these issues, e-commerce stores should ensure their sites are optimized, with all images and scripts loading in a timely and efficient manner. By choosing a high-performing hosting provider, e-commerce stores can also ensure their website performance will be reliable and consistently fast, even during peak traffic times.
By implementing the strategies outlined above, online businesses can significantly reduce cart abandonment rates and ensure their e-commerce stores offer their customers an optimal shopping experience.
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