An eCommerce business store owner could increase the conversion rate If only they have the solution for these complicated issues. We are going to discuss top reasons for checkout abandonment and how to increase user experience through checkout process.
What are the top reasons for checkout abandonment?
According to some statistics by Baymard Institute, the average cart abandonment rate from 2006 to 2017 was 69.23 %. This stat shows the upward trend on abandonment rate which was only stand at 59.8% on 2006 but this percentage changed to 78.00% on 2017. Although, large propotion of cart abandonment is simply a natural behavior of users who browse eCommerce sites: preview new products, make price comparison from each shop, save item for later,etc. The rest of this is the consequence of checkout abandonment and some other related reasons.
More and more shoppers tend to abandon their shopping session right at the payment phase. This trend is happening not only on computer but also on other mobile devices. So there must be some troubles at the checkout process which prevent shoppers from finishing this, check out some statistics:
- Nearly half of abandonment situation (46,1%) happen at the payment step.
- One-third of those(37.4%) who stop checkout because of login problem.
- The same one-third(35.7%) occur when the shipping cost was displayed.
- 20,9% occur when billing address was not automatically filled.
- 20% of abandonment at checkout was when shoppers had to fill shipping or delivery address.
Overall, four of the five reasons are related to checkout process which was not fully optimized. It’s not about the price but the smooth of all process. This also tell us that one complicated checkout process absolutely has no welcome here. In fact, no one want to waste time on filling information everytime they make purchase. Everytime comeback the first thing they remember is that :“Why they didn’t have a smarter way?”, or they simply won’t return anymore.
E-commerce retailers like us absolutely don’t want our money leak out every second right at the end of the conversion funnel right? Also follow on Baymard, if everything good on checkout process, “average large-sized e-commerce site can gain 35,26% increase in conversion rate”. So what should we do?
How to get rid of checkout abandonment
There’s a truth that an abandoned shopping cart will not lead to lost in sale automatically, SeeWhy stated that three-fourths of shoppers who abandoned their cart have planned to comeback to reatailer’s site to make a purchase. However, you can’t expect that they will return If you do things wrong. Keep in touch with shoppers and give them what they want is a good way to increase sales even at checkout.
Here are tips that you could follow:
To start, you sould keep an eye on checkout flow process as normal checkout could be very frustrating. Let say, the faster checkout can the larger number of sales you get, 4 seconds is an perfect number.
“Zip” your checkout in only one page which involve of multiple steps: billing cost, shipping and delivery,etc. Try to design a checkout page which provide auto-fill function or you can find one step checkout solution for any platform on provider’s store.
Allow both log-in and guest checkout: return customers would like to log-in to shop for more convienient. However, many shoppers who new to your site don’t want to take too much time and ask for guest checkout.
Send initial emails
Not many retailers pay attention to this step but sending initial emails can have 40% open rate and 20% click-through rate. This step is not in checkout phase but it is counted as a “late solution” for reducing abandonment rate and increasing conversion rate too.
For advange solution, restore shoppers information
Using technology that help shop owners collect online shopping data and create your own site database of customer will be a valuable invesment. By this way, when customer comeback the complex of checkout would not be a harrasment. For guest customers, get their email or some individual information would be your success.
Using full-packed services from hosted or self-hosted
Both hosted and self-hosted E-commerce has their own benefits. You can ask for design options on checkout steps with hosted or choose your own extensions for checkout with fully optimized option such as: One step checkout magento 2, etc. These solutions not only can help customers checkout faster but also generate more traffic for you site. In case you want to make more money with affiliate, E-commerce site,especially Magento store will work well for both One step checkout and Affiliate Magento 2 too. Sometimes, this is the fastest way to help you out of trouble with checkout abandonment.
For a E-commerce retailer, every unique customer is a valuable source of income. Unlike B2B sales rep who can use human intuition to improve buying experience, E-commerce companies only have their online store with their shopping cart. You have to empower every little element to create a customized buying experience for thousands of online shoppers each month.
Therefore, some checkout optimization projects will help you gain more profit. Losing money at the last minute of your funnel is not what you want right? Let’s make some change on checkout!