Robert Tallack writes for Business.com — Shrink Your Shopping Cart Abandonment Rate
Here are four of the most common reasons why customers abandon their shopping carts. Get your marketing strategy dialed in before the holiday shopping season gets into full swing!
Have you ever wondered why someone would take the time to select a product, put it into a cart and then simply not complete the transaction? The bad news is you are missing out on valuable ecommerce revenue if you aren’t paying attention to your abandonment rates. The good news is you’ve already done the hard work in attracting and (almost) converting that shopper into a customer.
eMarketer estimates that ecommerce is currently hauling in $2 trillion per year ($4 trillion per year by 2020). We should care about that because ecommerce stores are leaving valuable revenue on the table. Addressing shopping cart abandonment is one of the easiest ways to increase sales and turn browsers into customers. In our work with brands and agencies, we often find that this is a part of ecommerce strategy that isn’t addressed in a meaningful way.
With the market being ultracompetitive and heading into the biggest season of the year (Cyber Monday, Black Friday, Christmas), I recommend getting educated and implementing your own strategies to decrease your shopping cart abandonment rate.
What are the frequent causes of abandonment?
Shopping cart abandonment happens for several reasons, and it’s important to investigate and find out what affects your store the most. Here are four of the most common reasons we see: