👉 One of the most comfortable mode of shopping is going completely ONLINE. Everything is just a click away.
👉 Abandoned cart is the biggest challenge businesses are facing. Abandoned cart is a phenomena where the customer adds the items into the cart but leaves without making any purchase. 🚨 🚨 🚨
👉 Understanding this phenomena is extremely important for marketers since it directly impacts the sales and revenue of the business.
đź’ˇ Understanding the checkout abandonement
It has been found out that 7 out 10 customers leave the shopping cart without purchase.Cart abandonement not just only affects the sales of the business but also affects the customer relationship,brand goodwill and longterm profitability.
đź’ˇ Unmasking the reasons for cart abandonement
➡️ Pricing transparency – Customers often do not complete the checkout process since they find unexpected costs in the last stage of checkout like shipping charges, taxes or fees.
➡️ Web navigation and user experience
Salesforce’s State of the Connected Customer report highlights that 83% of customers expect an immediate response when interacting with a company online.
Many times due to heavy load on server, the website slows down and takes a lot of time to load, complicated navigation forces shoppers the leave the website which results into increase in bounce rate.
➡️ Payment options
Limited payment option increases frustration among the customers. When they cannot find their preferred mode of payment they tend to abandon the cart and look for some other websites for the same. For example options like (Paypal, UPI, mobile wallet) is convenient for shoppers as compared to filling the details of debit/credit card.
➡️ Absence of urgency and indecision
Sometimes people just randomly do scroll during their free time on the apps. They aren’t truly interested. The lack of urgency means (lack of FOMO) to finalize the transaction.
➡️ Lack of trust
Some websites do not offer COD options. Also some of them collect payments through whatsapp. This makes the customer suspicious and doesn’t completes the process. Also there are some websites which asks to complete the form and fill up your personal details which often customers don’t like.
➡️ Emotional and social influences
Shoppers are often influenced by (ratings,reviews, low purchase rates) which often influence the decision.