Imagine watching your favorite athlete running the Olympics. He is slowly nearing the finish line, beating all the opponents one by one. But, then he sprains his ankle and just when you thought you were about to witness a world record, everything changes. Your favorite athlete lies there, struggling on the ground, so close to the finish line, and yet never across it.
In the world of online business, we call a similar phenomenon shopping cart abandonment.
Shopping cart abandonment is one of the biggest challenges faced by startups. It can be a thorn in the side of their e-commerce site, affecting the way they do business. Shoppers fill their carts with products, look at the shipping rates, but then never press the final checkout button!
Did you know that that more than 67 percent of the carts fail to make it through the checkout process?
If this sounds too familiar, fret not. Instead, figure out why buyers are leaving your checkout page. For instance, if only one out of five shoppers makes a purchase, how do you expect to get the rest four to pony up some dough? Here are some E-commerce tips for Start-ups to reduce shopping cart abandonment:
Maintain Transparency about Costs
Based on a report published by the statistics portal Statista, 56 percent of internet buyers abandoned their cart without making a payment. Do you know why? That’s because most of these shoppers complained of unexpected costs. So what’s the lesson learned? Be absolutely upfront about costs on your checkout page. Any hidden fee or expenses may leave your prospective buyers feel cheated.
Show Availability of Products
You are looking for a product and find that the same is out of stock. How would you feel? Not good, right? Always design your product pages with information about your stock levels. You don’t need to show actual numbers. Rather, display messages like ‘Fast Selling’, ‘Only a few left’ or ‘Product is out of stock’. Simple. Inform your shoppers through an email message as soon as the product arrives.
Simplify the Shopping Process
Did you know how Amazon delights its customers? They have a one-click buying option, as customers hate a multi-step checkout process. Simplify your checkout page by limiting the form fields, enabling auto-fill options, offering round-the-clock customer support, and do not force your buyers to register. Consider a guest checkout option, instead.
Build Credibility by Integrating Security Logos
Security threats and online thefts are common on E-commerce sites. Make your customers’ payments more secure by integrating security logos or badges during the checkout process.
Provide More Payment Options
Offer your buyers payment options such as Mastercard, Visa, PayPal, American Express and Cash on Delivery. You can conduct a poll to ascertain which of these payment modes your customers like the most.
Prevent shopping cart abandonments by implementing some of these tips. If you need further assistance on E-commerce web development or marketing, contact us at email@example.com.