How to Prevent Shopping Cart Abandonment
Close more deals and watch your online business flourish.

One of the most frustrating things about being an online business owner is watching the graveyard of virtual shopping carts grow and grow. Just like a lot of things in 2020, the problem of abandoned carts has gotten even worse this year. In March 2020, 88.05% of online shopping orders were abandoned! That means only 1 in 10 shopping carts actually made it to checkout. To put this into perspective, online businesses lose $18 billion in sales revenue annually due to cart abandonment alone.

If you're an online business owner feeling the pain of abandoned carts, here are some methods to avoid having to lay another cart to rest.

1. Make it Easy

You may think that by the time a customer has picked out one of your products and plopped it into their shopping cart, you're in the clear! However, there's a long journey between a customer expressing interest in a product by placing it in their cart and the customer completing their purchase.

Take these steps to make that journey as easy as possible and minimize the bumps in the road:

  • Load times

Did you know that just a 0.1 second delay in load times can hurt conversion rates by 7%? It's no wonder! That 0.1 second delay is plenty of time to click on over to a competitor's site. Consider talking to a web developer or simplifying your site if you're finding that page load times are lagging.

  • The Road to Checkout

There's nothing more frustrating than having to hastily nod your way through 20 questions with a cashier. No, I don't want to sign up for your rewards card! Do your best to minimize your customers becoming exasperated with the online equivalent by making it simple to move between shopping, checkout and finalizing their order. The average large-sized ecommerce site can achieve a 36% better conversion rate just by improving its checkout design, so there's a lot to be gained by putting some serious thought into simplifying your customer's online journey! A great way to encourage shoppers through the process once you boil it down, however, is by adding a progress indicator to your checkout page. A progress bar reassures customers that finalizing their purchase is within reach.

  • Be Upfront

Make it easy for customers to understand the full cost of what they're purchasing. Nothing causes customer flight like getting hit with price shock on the checkout page (55% of customers report having abandoned their carts due to unexpected add-on costs!). Include a price calculator at the beginning of checkout or earlier on so that customers know exactly what they can expect to pay.

2. Security

Online shoppers put security at the top of their list when assessing an online business and deciding whether or not to follow through on their purchase. Make sure your customers trust you with their information. If your customers don't trust you by the time they get to checkout, you can add that shopping cart to the landfill.

Here are some ways to make your customers feel safe enough to follow through:

  • Reassure customers that your checkout is safe

18% of customers surveyed say that they've abandoned their carts because they didn't trust a site with their credit card information. You can reassure  customers by including recognized trust logos.

A trust logo is a symbol placed on your website that assures your visitors that the page is secure and their payment data is collected through secure third-party service providers. When a trust logo company agrees to place their logo on your site, this lets your customers know your website and the information they share with you is secure.

Trust logos are so powerful that numerous studies have found that they increase conversions and sales! If you don't know where to start when it comes to getting trust logos for your site, reach out to our team at PathPoint Merchant Services and we can help you set up your payment system and trust logos easily.

  • Leverage social proof

The modern customers loves the reassurance of positive feedback from other customers. They want to know other people have enjoyed what they're abut to purchase and their information remains secure in the process. To leverage the power of social proof, follow up with customers and ask them to provide a product review, feature reviews and testimonials throughout your site, and consider including a running ticker of how many people have bought your products to add legitimacy to your brand.

3. Multiple Payment Options

The average customer today isn't content with simple credit card payment. They want options. In fact, having multiple payment options has been proven to reduce cart abandonment by 6%! Luckily, PathPoint Merchant Services offers a payment system for your site that allows your customers to pay through a wide variety of methods, including e-wallets, store credit, credit cards and more. Let our team help you get customers to follow through with their purchases and make cart abandonment a concern of the past for you and your business.

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