According to a recent report put together by the Baymard Institute, an independent web research company, 67% of online shopping carts are abandoned. That means that 67% of web shoppers looked around your site, picked out one or more things they liked enough to save into a cart, and then just…didn’t buy them. Why not?
The four main reasons online browsers don’t make that online purchase include:
1. Taxes and Shipping. Shipping just bumped a $29.99 purchase up to $41.50. The total price is too much. Bye-bye, customer.
2. Buyer’s Remorse. Shopping around and putting things in your cart is a guilt-free pleasure. But once you see everything you picked out, a sense of regret can outweigh the actual enjoyment of potentially using the product. Customers start to ask themselves: Do I really need this product? 67% of them say “no.”
3. It was fun to pretend. I was just browsing or comparison shopping. I never planned to buy the item, or I went somewhere else and got a better price.
4. Problems with the website. The website crashed or timed out, your website navigation is too complicated, the customer had concerns about payment security, or their payment was declined. Oops.
So, once they leave, can you ever lure those customers back? There are two proven ways to deal with abandoned carts, and turn some of those browsers into buyers:
- Ad Retargeting. This uses cookies to track people who visited your site and show them ads of their abandoned products as they cruise around the web. Sometimes a little reminder is all they need.
- Email Recovery Campaigns. You can create a series of emails that get sent out to the shopper after they have abandoned their cart and left your site. These often include a special offer, like “free shipping”, that give the customers a reason to come back and complete their order.
If you’ve got abandoned shopping carts, Yeoman can help you figure out why customers are stopping short of purchasing from you, and then develop and execute a plan to get them back. Get in touch to discuss your ecommerce issues with us today.
Source: Baymard Institute, a web research co. based in the UK. 67% is an avg. based on 22 different studies. http://baymard.com/lists/cart-abandonment-rate