Do you have abandoned carts?

Do you feel stuck with uncompleted purchases?

Cart abandonment is common in ecommerce stores to the extent that nearly 70% of carts get abandoned. This means that out of 100 people that visit your website and add a product to cart, 70 of them will leave your website without completing their purchase.

So how do you combat this?

In this article, you'll learn:

How to calculate the cart abandonment rate in your store.

What are the causes and the solutions for cart abandonment.

How to Calculate the Cart Abandonment Rate in Your Store

To identify if you really have this issue and measure its impact, you need to be able to calculate the cart abandonment rate in your store.

Here's how:

Determine a time frame for your analysis. It can be on a weekly, monthly or yearly basis.

Calculate your cart abandonment rate for that time frame following this rule:

Cart Abandonment Rate = ( Number of Carts Created − Number of Completed Purchases ÷ Number of Carts Created ) × 100% = Cart Abandonment Rate.

For example, if you had 500 shopping carts created and 300 completed purchases during the month, the Cart Abandonment Rate would be:

Cart Abandonment Rate = ( 500−300 ÷ 500 ) ×100% = ( 500 ) × 100% = ( 200 ÷ 500 ) × 100% = 40%

Cart Abandonment Rate in this store is 40%. This number can be decreased if you figured out the reasons for the cart abandonment and apply the right solutions.

What Are the Causes and the Solutions for Cart Abandonment

There are many reasons why people may abandon their carts.

Here are the seven most common reasons:

1. Unexpected Costs:

High shipping fees, taxes, or additional fees added during the checkout process can surprise and deter customers from completing their purchase.

Solution:

Opt for transparent pricing and offering free or discounted shipping to help reduce cart abandonment. Also, it's best to use a "compare at" price to show that the customer is getting a good deal.

This one will depend on your brand and whether you want to show a discount on your product or not.

2. Complicated Checkout Process:

Confusing checkout processes with multiple steps, or mandatory account creation can frustrate customers and lead to abandonment.

Solution:

Simplify the checkout process and offer guest checkout options to improve conversion rates. You should reduce the number of steps and fields required to complete the purchase. Ideally, you should aim for a one-page checkout that only asks for the essential information, such as shipping address, payment method, and confirmation.

3. Limited Payment Options: Payment installment options

Lack of preferred payment options or concerns about payment security can lead customers to abandon their carts.

Solution:

Offer multiple payment options. Having multiple payment options such as credit cards, digital wallets, mobile payments, or alternative methods will decrease your cart abandonment rate.

4. Technical Issues:

Website errors, slow loading times, or glitches during the checkout process can frustrate customers and cause them to abandon their carts.

Solution:

Regularly monitor your website's performance and address any technical issues to provide a seamless shopping experience.
To check if your site has any website errors, there are many sites that crawl your entire site to find evidence-identified issues. You may google “check website errors” and you will find them.
To ensure your site does not have a slow loading speed in mobile and desktop, you can run a speed test for your site here.

5. Concerns About Security and Trust:

Lack of trust in the website's security, or concerns about the safety of personal information can stop customers from completing their purchase.

Solution:

Displaying trust signals such as customer reviews, and clear return policies can help eliminate these concerns. Here are some suggestions for you to make your site trustworthy:

Write better product titles.
Add a good description for your products. I see that some of your products have very generic descriptions.
Add reviews for your product page.
Add some sense of urgency to your page. This can be done by adding a countdown timer for your offer. We recommend using the VITALS app for this. https://go.easyadsapp.com/vitals
When possible, add a video of the product being used to your product description.

6. Mobile Optimization Issues:

Poorly optimized mobile experiences, including slow loading times, unresponsive design, or difficult navigation, can frustrate mobile shoppers and lead to cart abandonment.

Solution:

Ensuring that your site is mobile-friendly and optimized for various devices is essential for capturing mobile sales. You should use large and visible buttons, fonts, and images, avoid unnecessary scrolling and zooming, and use mobile-friendly payment options, such as Apple Pay or Google Pay. You should also test your checkout process on different devices and browsers and fix any errors or glitches.

Conclusion

Now, you can identify if you have the cart abandonment issue, and determine its impact using the calculation rate. Also, you can check all the reasons and apply the solutions presented to every issue.

In Easy ads, we offer a clear dashboard to track all the important data of your ads. This will not only help you identify if you need to address the cart abandonment issue, but it will also boost your sales using personalized ads for every person in your audience.

You can learn more about the app that creates personalized ads for every person in your audience here:
Easy ads for Facebook ads.

Updated on: 26/06/2024