Shopping cart abandonment is probably the biggest source of aggravation for e-retailers. It represents thousands of lost opportunities that could have converted to sales. The Baymard Institute states the average e-commerce cart abandonment rate as 68%.
Nearly 63% of abandoned transactions are recoverable provided the retailers use the right tactics to win back the customers. What can retailers do to ensure customers complete their purchase and encourage those who stopped midway for various reasons to come back and complete the transaction?
How to prevent cart abandonment?
Free shipping: Studies have often shown that the biggest reason for cart abandonment is the fact that the net cost of purchase turns out to higher than what the customer expected. Customers often focus on the price of the product alone while browsing items on the site. At checkout, they are faced with an amount that is often Cost of product + shipping costs + taxes and fees. Cutting shipping costs can bring the total cost down and encourage customers to complete the purchase. A Deloitte survey found 68% of holiday shoppers preferred to buy from sites that offered free shipping.
Simplify checkout process: Customers do not prefer sites that are too difficult to navigate or require customers to register before making the purchase. A complicated checkout process with too many pages also discourages customers. Present a well-designed, intuitive website with a simple checkout process.
Secure payment process: Security is always a concern while making an online purchase. Tying up with popular, secure payment gateways and displaying security logos during the payment process helps to assure customers about the security of their transactions.
How to win back lost customers?
Emails: Sending emails one to three hours after customers left the site is very effective in encouraging them to return. Initial emails have open rates of higher than 40% and click through rate of 20%. Emails that convey a sense of urgency and provide easy links that take customers back to their cart are helpful. Discounts and freebies also provide additional incentive to return to the site.
Retargeting: Customers who have moved out of your website can be shown your ads as they visit other pages. This serves to remind customers of their initial intention to purchase your product and may bring them back to your site to complete the purchase.
Other things that can help are
• Customer testimonials
• Price guarantees
• Freedom to edit cart at any point
• Variety of payment options.
Online sales are expected to grow to $414bn by 2018 covering 11% of all retail sales. Retailers who can control cart abandonment on their sites will be better set to take full advantage of the booming online retail market.
Creative Ideaz have recently helped to revamp our website and have really made a huge difference, helping us to bring our online presence forward leaps and bounds. We would definitely recommend Creative Ideaz to anyone looking for excellent customer service and a great website.Cumbria Park Hotel
We wanted our social media pages to help increase our brand value and improve sales. Since Creative Ideaz handled our account, we have seen this happen.Alt Noir
TabTime Ltd moved their IT/website business to Creative Ideaz around 5 years ago and are very pleased that we did. The service we get for major or minor changes and requests is quick and efficient, and their charges even when compared to the offers from India and the far east are very competitive. The Creative Ideaz Website Optimisation department is always willing to offer advice and discuss changes and we appear in the first 1-2 pages for all our Keywords on Google UK. Yes, we would recommend Creative Ideaz to anyone or any company looking for a new and reliable web and email companyTab Time
Creative Ideaz helped to set up our online shop website and have gone on to manage our marketing campaign, including Search Engine Optimisation. Not only has this resulted in a first page ranking on Google and an increase in sales, but we have also established a strong ongoing relationship with Creative which I hope will continue for many years to come.My Geex
I would like to thank Creative Ideaz and in particular Kurt for guiding me through the process for my new website, they made it very simple and smooth. I would highly recommend the whole team and would definitely use them again.DanceMax
It has been a pleasure working with Kurt and the team at Creative Ideaz. Professional and dedicated to fulfilling our requirements at all times, they listened to and worked with us, provided us with daily progression updates and they have created exactly what we wanted, a new look, smart, fully responsive website.
We would highly recommend Creative Ideaz to anyone looking for creative website design and we would not hesitate to use their services in the future.Walsall Society for the Blind
I would highly recommend Creative Ideaz. I found them totally approachable, helpful and outstanding with support. Highly delighted with the fantastic website created for us, putting me at ease with the latest technology. A company who certainly listens to their clients.Brewers UK
Thank you Creative Ideaz for your expertise when putting together our MCM website. This is our first website and it's stimulated the campaign to raise our brand awareness and promote our products.
Creative Ideaz's advice and assistance throughout the process has been invaluable. Your experience and dedicated staff helped us to cover all the points that are necessary to have a quality website. Your standard of work is above what we've previously sampled and you are all extremely efficient. We have recently set up a new divisional arm to MCM and we will have no hesitation in using Creative Ideaz as our preferred web design supplier for this next project.MCM Ltd
The most important thing to me was the friendliness and sincerity. Although I knew nothing, I was never patronised nor left feeling incompetent. Kirien is very good at tailoring the information required to the client and taking his time with any misunderstandings one might have. Doesn't rush and nothing is too much trouble. Plus I can only listen to someone I perceive as genuine - this is why I went to Kirien.Blue Lantern Nursing
I am very satisfied with the website design service provided by Creative Ideaz and would like to thank them and Kurt for all the hard work. They incorporated everything we wanted to see in our website better than we could have imagined and followed through from planning to development flawlessly. We are aiming to add more features as our business grows and will be returning to Creative Ideaz to help bring our ideas to life once again. Very pleased with the outcome and I recommend them highly!Incore Umbrella
In a few words, they just get it. We wanted to grow our business and Creative Ideaz knew how to do it and we have seen great results.Footprints Footwear
We have been working with Sumit and his knowledgeable team at Creative Ideaz for more than 6 months now. Since Sumit took charge of our website and started working with us our website has started to improve in rankings and sales. The Creative Ideaz team is working hard on getting the website ranked, not just using AdWords but also with organic search as well. Overall Sumit and his team have been a credit to us as an online business, they very informative and know how to improve the website as a whole.
We would recommend Creative Ideaz to other online businesses as they have proven experience, skills and qualities.Haroon Nawaz
We came to Creative Ideaz with our vision and they worked endlessly to make this happen. This resulted in a great website and a continued relationship with their team.Merridale Furnishers
Having used Creative Ideaz for our original website several years ago, I was more than happy to retain their services when our website needed a revamp. The quote we were given was excellent value and the service we received, from the initial meeting and through the planning process with Kurt into the website design and development was faultless. The finished product is exactly what we were looking for, it is clear that Creative Ideaz really know what website users are looking for.
I would certainly recommend for anyone looking for a great quality website for excellent value for money and superb customer service.BCOP
Just wanted to say thank you to Kurt and the team at Creative Ideaz for the website. Excellent job, professional service, and very quick at attending to the changes we needed done. We are very pleased with the website! Would recommend to anyone looking a professional website.
Thanks againUberfone Ltd