Shopping Cart Abandonment
The UK wears the crown when it comes to internet shopping and we lead the world with our love of virtual retail therapy.
More than a third of the population buy something online at least weekly, and yet almost three-quarters of customers tend to abandon their baskets before checking out – why?
Basket abandonment can be perplexing for retailers. There isn’t always a clear-cut answer as to why online shoppers, at some point, decide not to proceed with their order. The reality is many factors can be at play when someone decides to abandon their cart before checking out.
Savvy shoppers like to compare prices before taking the plunge with payment. Some consumers abandon their baskets simply to see if they can get what they want for less elsewhere. Easy price shopping is one of the perks of the online world and much the reason why pay later shopping carts have increased in popularity.
If a customer can’t find what they’re looking for at a reasonable price elsewhere (or they can but aren’t satisfied with some other part of the shopping experience) customers may well come back.
Parting with Pennies
In the same vein, shoppers might add items to their cart and then at the checkout decide that what they’ve picked out isn’t worth parting with their precious pennies for. It may be that they leave the transaction for when funds allow, or that they forgo the purchase altogether.
By giving buyers the option to pay for purchases with interest free credit, more customers are convinced to part with their cash. After all, nobody likes being kept awake by money worries! DivideBuy’s interest free credit solution integrates easily with your website to provide fast and secure credit decisions for customers who need to spread the cost of their shopping.
High Shipping Costs
Online shopping = delivery fees. If customers feel your postage charges are too high, they may abandon their cart before checking out. Economical flat rate shipping can be ideal for shoppers placing a large order but may be too steep for someone who’s just buying something small.
Consumers often search online for free shipping codes before ordering and abandon their basket in the meantime. While some will wait until a free or discounted delivery code is released before placing their order. Giving customers the option to spread the total cost of an order, including delivery, reduces cart abandonment.
Complex Application Completion
If a customer wants to place an order, forcing them to complete a complex registration process before they can check out creates a barrier to those all-important sales. A complex registration process is often a source of frustration for shoppers who just want you to take their money!
To stop your shoppers from abandoning their baskets while creating an account, the simplest solution is to give them the option to choose a password at the end of their purchase; registering their account for future use in a single, simple step.
The online retail world is ripe with opportunities for retailers who are wanting to support their shoppers during the entire customer journey – all the way to checkout. After all, you know how to run your business!
DivideBuy gives shoppers more control over their purchases, helping our retail partners to reduce the potential for basket abandonment and secure those sales. Find out more here!