Shopping cart abandonment is a real problem for e-commerce sites and marketplaces today.
About 3 out of 4 people abandon their cart during a purchase process. Shopping cart abandonment varies by industry, but the average rate is estimated to be around 70%. Fortunately, there are solutions to this problem, which you will detail in this article.
First we will see what are the main causes and finally how to optimize the checkout of your site. The checkout corresponds to the stages of payment and the choice of the method of delivery of the order. With My Flying Box, offer several delivery options to your customers!
What are the main causes of cart abandonment?
Mandatory creation of a customer account
Asking for the mandatory creation of an account when we do not know enough about your brand can lead to shopping cart abandonment. Maybe that customer just wants to make a first purchase to test your product or service.
Authentication step too long
When it comes to the authentication procedure, it should be noted that it is the first factor that encourages the Internet user to continue his purchase.
If it requires too many steps it can quickly become boring. This is not a rule but in principle it is recommended to put only three fields for a registration form. But again, it depends on your offer and your sector of activity. Finally, for B to C sales, try to ask for as little information as possible.
Having a slow site
One factor to take into account is the loading speed of your site. 40% of Internet users leave a page if the loading time is more than 3 seconds.
In most cases, a loading speed that is too slow can lead to a "bug" and therefore to a payment method failure. However, a customer does not want to re-enter his bank details for fear of double debiting his account.
Not offering multiple payment methods
A site that offers a single payment method and does not offer users the possibility of choosing several options can lead to shopping cart abandonment.
Impose a single delivery method
Imposing a single delivery method could lower your sales / increase the cart abandonment rate. Give flexibility to your customers by giving them the possibility to choose their preferred delivery method (standard, fast, relay point)
Our My Flying Box platform gives you the option to choose the delivery method and ship with the carrier you prefer. We negotiate attractive rates with our partner carriers.
Lack of transparency on your return policy
Buyers abandon their cart when the return policy does not provide all the necessary information such as return and refund timeframe. To optimize your checkout, facilitate the return procedure for your customers and offer longer return times. Buyers are proven to buy more from a site where the return process is easy and accessible.
How to optimize your checkout and reduce shopping cart abandonment
Analyze user behavior
To know how to optimize your checkout, you need to analyze the conversion funnel between the cart page and the payment page.
Thanks to the analysis tool Google Analytics you can analyze at what stage your buyers decide to abandon their shopping cart and what is the real cause. Indeed, it can be related to the loading speed, the payment process or the delivery.
In e-commerce, remarketing consists of distributing targeted advertisements to Internet users who have visited your site. About 70% of retargeted visitors end up making a purchase.
There are different remarketing channels: display retargeting, SMS retargeting, and social media retargeting.
Offer a discount code
Even if as a solution it remains ultimate, it is necessary to think of this option. Offering a reduction will greatly reduce your shopping cart abandonment and retain your customers afterwards. In addition, if you offer a deadline, it will create a sense of urgency and your customers will quickly place a new order.
Offer split payment
To motivate consumers' purchasing decision, offer split payment from a certain purchase amount. Split payment has become a real trend these days which allows buyers to better manage their cash flow and limit bank overdrafts.
Offer free delivery
High shipping costs could be one of the main reasons why a sale does not go through.
90%* of buyers say that free shipping is a major criterion for repeat purchase.
If you have enough profit margin to cover your shipping costs, offer free shipping. This solution will also allow you to increase your average basket. (see our article on how to set your shipping costs).
Optimize the management of your deliveries thanks to My Flying Box
Our My Flying Box shipping platform allows you to better manage and track your shipments. From a single interface you can ship with the carrier of your choice or integrate your own transport contract if you wish.
If you have any questions about optimizing your checkout, do not hesitate to book one of our online workshops.