What is Cart Abandonment?
Cart Abandonment refers to the term used in eCommerce when a customer adds the item into the cart and leaves the page without completing the action. Even if your customer moves the cart item into the checkout page and leaves the website without making the final purchase then it is considered as Shopping cart abandonment.
Cart abandonment differs depending on the different industry as shown in the above bar chart. If you wish to calculate the shopping cart abandonment rate then you can do it by dividing the total number of completed purchases by the number of carts created subtract by 1 X 100 to get the cart abandonment rate.
Why do customers abandon carts?
Whether you are aware or not but today more than 70% of the shoppers abandon the cart after facing various problems during the checkout process. Yes, its true earlier customers used to compromise, but with the increase in the number of eCommerce websites, it has become essential for every website to minimize every small mistake.
Lack of transparency into checkout process elements like hidden shipping costs, no detail about the return policy, and more are the reason behind shopping cart abandonment. But it’s not limited to that, other reasons give rise to shopping cart abandonment.
So, Before jumping onto how to reduce shopping cart abandonment first we need to identify why customers abandon carts. Once you are aware of the problem then it will become easy for you to find the proper and effective solution.
Confusing Checkout process: You the customer are landing on your eCommerce website to get a satisfactory and easy navigation to final purchase. Creating a long and baffling eCommerce checkout process frustrates customers and becomes the major reason behind the shopping cart abandonment. A multi-step checkout process can benefit you but it frustrates customers and slows dons their buying process.
Read More: Reduce Shopping Cart Abandonment Using Different Techniques
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