67.75% of internet users abandon the shopping cart, according to a study published by Baymard Institute.
What does that mean? That about 7 out of every 10 visitors to your website are leaving before closing the transaction and that is pretty frustrating, considering the hours you spend to optimize your website, thinking about pricing strategies, transportation and so on.
You are losing money and this is not an assumption, it has been proven.
But, why visitors abandon their shopping cart? How can you decrease the rate of shopping cart abandonment? What strategies you can apply to improve your conversion rate? About these things we will discuss in this article.
Why visitors abandon their shopping cart?
When you think about all users who abandon their shopping carts you might think that most of them change their minds in the last minute. But things are not like that.
In this study by Worldpay, we can see what are the main reasons why users leave your shopping cart.
1. Unexpected costs
Imagine that you go to the supermarket to shop for a barbecue with friends. You run along the supermarket to find the best meat, to find the beer you like and other snacks to organize the perfect grill. You have a planned budget and you try to not overtake.
When you get to the checkout, the cashier tells you that besides the amount you have to pay for the products, you have to pay a fee for PETs, a fee for bags and another one if you want to pay by card.
Don`t you want to leave there the bags and go shopping at another store?
When we speak about online stores, usually the unexpected costs are for transportation.
Many large ecommerce stores “delight” their customers with free transport, and they expect that you treat them the same way.
As indicated by Deloitte, 20% of purchasers think that “free shipping” is top motivation to shop with a specific retailer. Turns out, “Free shipping” is a huge factor in online customer experience.
2. Just browsing
Believe it or not, but 99% of those who visit your site first time will not buy; and these come from a study realized by SeeWhy, who analyzed the behavior of 600.000 customers.
On the other hand, 75% of users who abandon the shopping cart have the intention to buy. So that is why it`s important to use email automation and retargeting almost immediately after the abandon their cart.
3. Found a better price elsewhere/overall price too expensive
At first glance may seem a strong enough reason.
As indicated by another study by Forrester, “price & timing” are the real reasons why customers abandon their shopping carts. Also, in the study realized by Seewhy, it looks like lower cart tends to have a higher abandonment rate.
Performing under the presumption that abandoners are purposefully leaving to discover better prices, and understanding you’re presumably not willing to race for the lowest price, here are a couple of retargeting strategies that you can apply to recover abandoned shopping carts.
1. Use live cart abandonment trigger
It would`t be wonderful if, before the user leave your website, to send an instant message that leads him to complete the order? You can offer him either a discount or a bonus because he wanted to buy from you.
Using a software like Retargeting.biz you can customize a live trigger to better communicate with your customers.
2. Use cart abandonment email trigger
Statistics show that 63% of abandoned shopping carts are potentially recoverable by those retailers who use a marketing automation software and address to those who especially left the e-commerce website because of costs with a discount or free shipping.
You can use Retargeting.biz to send an email to remind them what great products they left in their cart or to offer them a little discount.
3. Use SMS trigger
One of the techniques that marketers don`t use so often is SMS marketing – everyone is checking their messages so it could be an opportunity for you.
When someone leaves an item in the cart, something that they really need, what`s the best way to check if your message will reach him?
Through SMS, obviously! And you`ll make His life better, you`ll Give Him Because the Possibility to buy the product from your shop He loves most.