In digital commerce, we use the term Cart abandonment to describe instances of incomplete purchases. It refers to eCommerce store visitors who add products to their carts and drop out before completing the checkout process. Here are statistics on cart abandonment for different industries. As you can see, the numbers are staggering across all segments.
Here are the most common causes of abandoned carts: • High Shipping costs or getting a customer surprised by unexpected additional fees. • Slow or complicated Checkout • Shop may have compulsory registration • or checkout may have a long form to fill with way too many mandatory fields • Shoppers may not be happy with the return policy • Another common reason could be Delivery-related concerns –for example, the limited number of delivery options and long delivery times • or a limited choice of payment methods or problems with CC transaction • and, of course, a slow or poorly designed Website will not give a customer the confidence to complete the order It is essential to track and monitor cart abandonment rates and invest in getting some of these customers back. Let’s discuss techniques and tools merchants can use to recover this lost revenue. The most efficient are:
- Sending Cart Abandonment Recovery Emails
- Using Remarketing Ads
- Encouraging customers to finish the purchase with AI Chat Bots
- and Exit Pop-ups
So, on average, 69% of online carts are abandoned by users.
📩Email automation is the most broadly used technique to tackle these percentages. Using marketing automation tools, you can set up email templates and schedule one or several emails to go off within a designated amount of time. The shop visitors, receiving a personalized email reflecting their cart content plus an additional incentive, are highly likely to complete their purchase. Email serves as a reminder, and businesses use it to offer additional motives, such as a discount coupon or free shipping. That way, companies could manage to recover almost one-third of abandoned carts.