Samiksha Hiwase | 08 min read | Oct 03, 2020

Why Online Retailers Are Losing 67.45% of Sales and What are the solutions.

1. Overview

Reducing the number of abandoned carts could generate a better sales ratio— the goal of every online store owner. The hassle is that it also makes it less complicated for buyers to abandon their carts. Research has found that 67.45% of online buying carts are abandoned. And which means e-trade stores are dropping out on rankings of potential sales.
But how you are able to do this as a store owner, designer, or developer to convert these “warm leads” into paying customers. Keep reading this blog as you will get to know about the ways of how to overcome the abandonment carts.

2. Why visitors leave sites without paying

Shopping cart abandonment on your site is really a big issue. First, you have to understand the reasons behind why carts are getting abandoned on your website. Let’s take a look at the important reasons.

If the website is too slow or gets crash

Your site will load quickly if you are using a good quality server as the page loading time clearly depends on the hosting server. Many Shopify store owners host their site on such a server which is of the low cost that results in speed of site becoming slow or sometimes it crashes very badly.
So, purchase the best quality web hosting service to make your site load quickly and to increase your sales. The best point about the Shopify is it also offers a hosting facility for all Store owners.

Presented with an unexpected price.

Shopping cart abandonment is when a potential customer starts a check out process for an online order but drops out of the process before completing the purchase. Any item that enters the shopping cart but never makes it through the transaction is considered to be “abandoned” by the shopper.
This happens because they plan to spend a certain amount and not going to spend greater on prices they hadn’t predicted. This turns out that a huge 56% of e-commerce consumers abandon their carts after they are provided with unexpected prices at checkout.

Price presented in a foreign currency.

If you are not promoting your product price in local currency then it is a massive conversion killer when you are selling on an international level. You should offer a range of currencies in your store because Multi-currency is an important factor if you wish to go worldwide on Shopify.
It is highly recommended to go with a single store having a list of all local currencies.

3. Ways to reduce cart abandonment: Before abandonment cart

Let’s start to diagnose the improvements you can make to your site to reduce the number of cart abandonments. You have to improve many points for making your customer’s experience better on the website. For example, display all security details more clearly on your site, etc. The following are some points to make your checkout system very effective.

Display product images

Provide high-quality images of products that the client is buying. Rather than fundamentally having text to portray what they are getting, its best to show an image of each item. This fortifies what the customer is purchasing, particularly on the cart page.

Show security logos and consistent data.

This can calm the customer’s fears related to Mastercard and provides security in the installment cycle. A professionally designed security logo has the capability to evoke a desired emotional response from the audience. The elements such as a carefully picked color scheme, typeface, images, and possibly a slogan are key elements to catch the audience’s attention toward a brand message. Thoughtfully designed logos are capable of converting the people into loyal consumers, although branding and marketing plans also must be in place for logos to work for the success of a business.

Show contact information.

Demonstrating offline contact info (along with phone number and mail details) and email address adds credibility to your website.

Offer various methods of payments.

Let individuals look at their desired approach of payment, for example, PayPal and American Express, in addition to Visa and MasterCard.

Offer help.

Give a telephone number and your email address at the checkout page this will give certainty and straightforwardness to the purchasers when they may get any issues. Whenever the customer gets an issue while shopping on your website, they can immediately post their question on your site chatbox. As a result, they will receive solutions to their problems in the chatbox.

Don’t require registration.

The customers will leave your website if it requires prolonged registration forms to be crammed out. So, allow your customers to “just” check out instead of registering. One of the most important turnoffs on your sales will happen due to some checkout processes which forced your customers to sign-in on the site so as to finish the purchase.

Offer free delivery.

Customers feel more excitement for shopping on your site only when they see “free delivery”. One study found that 61% of customers would stop their request if a free delivery wasn’t advertised on the site.

Show testimonials.

If you are not a notable brand at the beginning of your business, credibility will be a trouble for you. Hence, display testimonials and reviews from clients that can help customers if they have any inquiries.

Offer price guarantees and discounts.

Offering a cost guarantee gives consumers the confidence that they have found the ‘first-class deal’. Moreover, a reasonable discount strategy and a clear refund policy will include genuine feelings of peace.

Advance for portable or optimize for mobile

Many reports state that deals from cell phones are increased by 63%. This speaks to a genuine business case to move to a “responsive” method.

Display item description

Keep in mind visitors shouldn’t have to dig around a website to get the information they need regarding any products. Complex navigation or potentially an absence of product data makes a frustrating experience for users.

4. After Cart Abandonment

The second approach can be used after the cart has been abandoned. The following are some methods to improve after cart abandonment:

Retargeting your customers

Retarget your customers through monitoring individuals who visit your website and showing your [retargeting] advertisements to them as they visit different destinations on the web.
The above image of the Retargeter shows how the cycle functions. A customer goes to your site and leaves without buying. You would then be able to utilize help like Google Adwords, AdRoll, etc to show the ads, you select for that customer as they go to other websites online.
A purchaser goes to your webpage to buy a cap, you can have retargeting advertisements of that equivalent cap show up when the customer is on a news or music site for instance, as long as those destinations acknowledge the promotions and a large number of the top sites allows this to display ads.
Another way is to create a social media profile of your business and ask your customers to follow you. The quality way to engage your customers is to post some attractive photographs, generate testimonies, and upload desirable images of new items associated with sales, discounts, offers, and so on.

Sending Emails

The best strategy is to email the client with personalized content that they add the products in their cart but leave the site before making an order and such emails regarding the abandoned cart are known as an “abandoned email.”
The idea is quite basic. At an appropriate time, an adjustable email is despatched, completed with a customized message, and connects to the consumer’s deserted cart. Obviously, this methodology assumes that the client has submitted their email address — they have done everything except paying for the product. Abandoned cart emails demonstrate a final try by the merchant to convince the consumer to purchase the product.
You then create a chain of one-three emails and send it to that customer at set durations after they have abandoned the cart and left your site.
The emails need to include:
  • Pictures of the products they choose
  • Reviews or testimonials from different customers
  • Assurance and discount strategy data
  • A solid source of inspiration to get them back to your site
Timing the emails:
  • The first email – ought to go out inside 24 hrs
  • The second email – send within 2 days
  • The third email – send within 1 week

5. Conclusion

Numerous online retailers are losing sales every single day because of cart abandonment. You can execute the strategies that you found out in this article. You can use these all methods and you will be able to develop your store’s deals. Our designers and developers help you to enable these strategies if you get any issue, you can contact our team.

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