Cart abandonment is a significant challenge faced by Ecommerce businesses, with an average abandonment rate of 70.19%. This means that for every 100 potential customers who add items to their cart, about 70 leave without completing the purchase. Let’s explore the reasons behind this phenomenon and how JustSell can help mitigate this issue.
Top Reasons for Cart Abandonment
- Unexpected Costs: The primary reason shoppers abandon carts is hidden costs, particularly shipping charges, that appear during checkout.
- No Guest Checkout Option: Requiring account creation can deter customers from completing their purchase.
- Slow Delivery: Long delivery times often lead to cart abandonment.
- Security Concerns: Shoppers may be reluctant to share credit card information if they don’t trust the site’s security.
- Complicated Checkout Process: A long or confusing checkout process can frustrate customers and lead to abandonment.
- Lack of Transparency: When the total order cost isn’t clearly displayed upfront, customers may abandon their carts.
- Website Errors and Poor User Experience: Technical issues and poor website design can drive customers away.
- Inadequate Return Policies: Restrictive return policies can discourage purchases, especially for first-time customers.
- Limited Payment Options: Not offering preferred payment methods can lead to cart abandonment.
The Impact on Ecommerce Businesses
Cart abandonment has a significant financial impact on Ecommerce:
- Ecommerce stores lose approximately $18 billion in revenue annually due to abandoned carts.
- The projected yearly value of abandoned merchandise in online carts is around $4 trillion globally.
- In the US alone, the value of abandoned goods in online shopping carts amounts to about $705 billion.
How JustSell Can Help Reduce Cart Abandonment
JustSell offers several features that can help address the common causes of cart abandonment:
- Transparent Pricing: JustSell’s integration with existing systems ensures real-time pricing updates, reducing surprises at checkout.
- Streamlined Checkout: The platform offers a simplified checkout process, reducing friction and potential abandonment points.
- Multiple Payment Options: JustSell supports various payment gateways, allowing businesses to offer diverse payment methods to customers.
- Mobile-Optimised Experience: With JustSell’s branded customer ordering app, businesses can provide a seamless mobile shopping experience, addressing the high abandonment rates on mobile devices.
- Improved User Experience: JustSell’s intuitive interface and customisable features allow businesses to create user-friendly shopping experiences.
- Real-time Inventory Updates: By integrating with existing systems, JustSell ensures accurate stock information, reducing disappointment and potential abandonment due to out-of-stock items.
- Personalised Shopping Experience: JustSell’s features allow for customer-specific pricing and personalised catalogues, enhancing the shopping experience and potentially reducing abandonment rates.
Conclusion
By addressing these key factors contributing to cart abandonment, JustSell empowers Ecommerce businesses to recover potentially lost sales and improve their conversion rates. With its comprehensive approach to Ecommerce management, JustSell provides the tools necessary to create a smoother, more engaging shopping experience that can significantly reduce cart abandonment and boost overall sales performance.
