The Secrets of Cart Abandonment: How to Recover Lost Sales?

Have you ever observed that out of every 100 visitors to your online store, you lose around 70 potential customers? This frustrating phenomenon is commonly referred to as Cart Abandonment. It happens when individuals visit your online store, add products to their cart, but ultimately leave without completing the purchase.

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So, why do these unpaid orders occur?

From the shoppers' point of view, two main factors come into play: cost and emotional ambivalence. The cost factor encompasses price fluctuations, including considerations such as free shipping and variations in prices across different channels. On the other hand, emotional ambivalence refers to their hesitancy and uncertainty when making the final decision to complete the purchase.

According to statistics, there are 6 top specific reasons for cart abandonment, with delivery and payment options ranking as the top two among online shoppers worldwide.

But here's the good news: by addressing these pain points, we can turn these lost opportunities into increased revenue.  In this blog, you will begin with customer behaviour recognition based on two main factors: “cost and emotional ambivalence” to combat shopping cart abandonment. Let's dive into the blog below!

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Understanding Your Customers: Unlocking the Online Shopper's Journey

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The journey of online shoppers starts with a need or want. They search for items online, consider alternatives, and make a decision to buy or abandon. Shoppers can be divided into two distinct categories, and it is fascinating to observe the varied reactions of these different types of shoppers when they reach the final stage of the purchasing process.

The first type is Price-sensitive shoppers. They add products to their cart for categorisation and comparison and they use the cart to create a wish list and track prices for future purchases.

To engage Price-sensitive shoppers, focus on:

1. Payment Options:

• Reduce bank transaction fees and introduce convenient payment methods like Paypal or Alipay to provide shoppers with better currency choices.

• Collaborate with banks to offer additional checkout discounts, making the purchasing process even more enticing.

• Consider integrating Buy Now, Pay Later (BNPL) options to cater to the preferences of shoppers who prefer flexible payment arrangements. 

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2. Delivery Options:

• Provide transparent options for covering delivery fees, giving shoppers the ability to choose the most suitable method for their needs.

• Clearly communicate your return policy to alleviate concerns and build trust among customers.

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3. Abandoned Cart Email:

• Send emails to remind shoppers about their abandoned carts, encouraging them to complete their purchases.

• Offer exclusive discounts or promotions to incentivise customers and make their decision-making process easier.

• Regularly remind shoppers of their wish lists, keeping their desired items top of mind and increasing the likelihood of a future purchase.

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4. Decorate the Cart:

• Make the shopping cart more entertaining and interactive by incorporating engaging features and elements.

• Introduce fun additions that captivate shoppers, creating an enjoyable experience and fostering positive word-of-mouth marketing. 

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The second type is Emotional Ambivalence shoppers. They prioritise payment security and may hesitate to provide personal information. They also value a speedy checkout process and find small phone screens inconvenient.

To engage emotional ambivalence shoppers, focus on:

1. Security Announcement: 

• Highlight security measures beneath each payment method to assure shoppers of their safety.

• Include links to the “Privacy Policy”under the payment options.

• Displayed security seals to reassure customers.

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2. Streamlined Checkout:

• Optimise the checkout flow, allowing customers to proceed directly to payment after adding items to their cart.

• Simplify the shop page in order to adapt small screens of mobile devices.

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3. Simple Data Collection: 

• Provide a clear and straightforward checkout process, avoiding forced account creation.

• Minimise data collection to only contact and standard address information for delivery.

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Let SHOPLINE help you bring Cart Abandonment to revenue!

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Placing your customers' needs at the forefront is crucial. Take the time to understand your customers as they reach the checkout and strive to provide them with the most suitable and seamless experience. Alleviate their concerns by offering a secure and reliable payment process that addresses both cost-related and emotional factors, ensuring a trustworthy environment for placing their orders.

SHOPLINE offers easy-to-use customisable checkout page design will help you to optimise your customer journey. Start SHOPLINE 14 day free trial today, you can turn your losing orders into profits with the help of SHOPLINE!