Did you know that the average shopping cart abandonment rate is more than 60 percent across the entire web? Ask any eCommerce business about their most challenging pain points, and they’re sure to mention this frustration. But while this widespread issue can be a thorn in your side, those who figure out how to prevent shopping cart abandonment from happening or persuade customers to return and complete their orders are at a significant advantage over those still working on runaway customers.
To shed light on this dilemma, VWO surveyed over 1,000 online shoppers between the ages of 18 and 65 to find out the most common reasons why customers abandon shopping carts. What they discovered may surprise you.
1. 25% of Abandonment is Due to Unexpected Shipping Costs
Customers demand transparency from the brands and retailers with which they do business. If consumers encounter unexpected fees, they may feel slighted, and will set out in search of a better deal.
2. 22% of Customers Abandon Because They’re Required to Create an Account
In some cases, online shoppers are making an impulsive purchase based on an ad they’ve been served, or a deal they stumbled upon while browsing. In this situation, asking them to create a new user account may give them too much time to reconsider their purchase and bail.
In other cases, customers may feel as though creating an account is a greater commitment than they’re willing to make, or will take too much time. They aren’t comfortable giving up their personal information and opt out of the order.
3. 17% of Customers Abandon Because They’re Not Ready to Buy
Some customers add items to their shopping cart as a “wish list”—a way to keep tabs on what products appeal to them. Forty-five percent of consumers admitted they also do this to see what the true cost of their item will be after tax and shipping fees are applied. In other words, they are still in the research phase, and haven't reached a final purchasing decision.
4. 15% of Abandonment is Due to Payment Security Doubts
Today’s consumer has been burned one too many times by scammers and credit card thieves. If they get the sense that their personal information is at risk, they will look elsewhere for the same product from a more trustworthy source.
5. 9% of Customers Abandon Due to Long and Confusing Checkout Processes
Consumers don’t want to be challenged when it comes to their shopping experience. As stated above, they want complete candor, superior customer service and a simple checkout process that makes the terms of the transaction clear and concise. Ask your customers to jump through too many hoops, and you risk pushing their patience beyond the threshold.
Respondents also admitted they would abandon their cart if they couldn’t find a coupon code (8%), or if there wasn’t an option for express shipping (5%).
What Inspires a Customer to Return to Their Abandoned Cart?
The most effective way to get a customer back after they’ve abandoned their shopping cart is to offer them a better deal. This builds an inarguable case for the effectiveness of two highly regarded marketing tactics: retargeting and real-time email marketing.
Retargeting (also referred to as behavioral remarketing) is a method of advertising that targets consumers based on their previous internet actions. Real-time email marketing uses real-time data to create and serve customers with highly targeted and timely content.
For more tips on how to convert customers who have previously abandoned their carts, check out our blog post: 5 Secrets of Cart Abandonment Campaigns Customers Can’t Resist.