Shopping Cart Abandonment Solutions

If you've been running an online store on a brick-and-mortar store for any length of time, you're probably all too familiar with the problem of shopping cart abandonment. Most shoppers abandon their carts before completing a purchase, and it can be frustrating to see all that potential revenue slip away. Shopping cart abandonment is a real problem for retailers, but fortunately, there are solutions that can help. In this post, we'll explore some of the most effective ways to reduce shopping cart abandonment and increase sales for your store.

Common Reasons for Cart Abandonment While Shopping

For businesses, shopping cart abandonment is one of the most frustrating aspects of customer shopping behavior. According to Baymard, the average online shopping cart abandonment rate is 69.99%. Shopping cart abandonment can happen for many reasons, but some of the most common include:

Lack of Convenient Payment Options and Security

It's no secret that shopping carts are abandoned all the time - both online and in brick-and-mortar stores. One of the main reasons for this is that people don't have convenient payment options, or worry about the security of their information.

 

Convenient payment options are important for customers, especially when shopping online. If a customer doesn't have their preferred payment method available, they're likely to abandon their shopping cart. In addition, customers want to feel confident that their personal and financial information is secure when shopping online. If they don't feel confident in the security of the website, they're also likely to abandon their shopping cart.

Complicated Checkout Process With Hidden Fees Tacked On

Another reason shopping carts are abandoned is that the checkout process is complicated, with hidden fees tacked on. This can be frustrating for customers, who just want to complete their purchase quickly and easily. Complicated checkout process contrast the

 

If the checkout process is too complicated, customers are likely to give up and abandon their shopping cart. In addition, if there are hidden fees that are not made clear during the checkout process, this can also lead to online shopping cart abandonment.

 

To avoid shopping cart abandonment, businesses must ensure their checkout process is simple and straightforward. All fees should be clearly stated upfront, so that there are no surprises for the customer at the end. Checkout design process should be easy to understand and follow.

How To Solve Your Cart Abandonment Issues

It is evident that if left unchecked, shopping cart abandonment can have a significant impact on businesses - both online and offline. Shopping cart abandonment leads to lost sales and revenue.

Thankfully, there are a few can do to reduce shopping cart abandonment, boost conversions, and recover extra sales. The following are some shopping cart abandonment solutions that really work:

Secure and Streamline Your Payment Options With BNPL

One shopping cart abandonment solution that businesses can use is to offer secure and streamlined payment options with BNPL. BNPL, or buy now pay later, is a type of payment option that allows customers to purchase items and spread the cost over a period. This can be especially helpful for larger purchases, or for customers who may not have the full amount available at the time of purchase.

 

Offering BNPL can help in reducing shopping cart abandonment, as it offers a convenient and flexible payment option for customers. It also helps streamline the payment process, as customers can make their purchases and set up their payment plan in one go. In addition, BNPL is a secure payment option, which can help put customers' minds at ease and reduce concerns about payment security.

Be Honest About Any Additional Costs Upfront  

Another solution to shopping cart abandonment is to be honest about any additional costs upfront. This means being clear about shipping costs, taxes, and any other fees that may be applicable. Customers don't like to be surprised with hidden costs at the end of the checkout process, so it's important to be upfront about these from the start.

 

If customers know how much they will need to pay for their purchase, they are more likely to complete the purchase and not abandon their shopping cart. In addition, being honest about costs can help build trust with customers and create transparency.

On the same note discounts, and offers should be clearly displayed as well

 

Many businesses offer discounts or promotional offers to help encourage customers to complete their purchases. However, these offers should be clearly displayed and easy to find. Otherwise, customers may not be aware of them and miss out on the savings.

Reduce Your Shopping Cart Abandonment Rate With an Easy BNPL Solution

Shopping cart abandonment is a huge problem for online stores, which cost merchants billions of dollars in lost sales every year. It is important for businesses to find ways to reduce their shopping cart abandonment rate, increase conversion rates and boost sales. If you’re looking for some solutions that work, ABC has you covered. Our innovative payment solutions help merchants offer seamless BNPL online and in-store. BNPL is a great solution, as it allows customers to pay for their purchases over time, which can help reduce sticker shock and buyer's remorse. We service payment providers and merchants across Canada, the US, and Australia, so we know what it takes to solve this frustrating problem. Contact us today to learn more about how our solutions can help increase your sales.