Shopping cart abandonment is one of the most common occurrences at retail and eCommerce sites. Improving the user experience for them to go through the sales funnel and convert is a must. Though it is a mystery to many site owners why customers leave a website after placing items in their cart, it is something that can be solved by having an excellent checkout page.
The rate of shopping cart abandonment
Perhaps, soon, eCommerce will have no checkout cart at all. Uber has replaced the painstaking checkout process by charging the credit card automatically when its client receives the product/service. A forerunner in the industry, many sites are still far away from having an automatic checkout system. The high rate of shopping cart abandonment is still one of the most prevalent problems in the eCommerce industry.
It is one of the biggest fears of the industry, and many steps are taken to coax consumers to complete the desired action. The thing is, there is no need to fret due to the high abandonment rate that happens. There are methods to improve checkout conversion rates. It happens because many users do not find their preferred payment method, are still comparing prices, or are just window shopping. This occurrence cannot be avoided, but it needs to be reduced.
How to improve conversion rate
The problem of the checkout page has to be identified. It is possible to do so using metrics. Some companies do this service by gathering the data to determine and assess the content and design. The metrics provide information about why the checkout succeeds or fails, and if it is based on the elements or the user experience.
The numbers might be misleading as the data may lead the marketing to believe that the conversions are enough. For example, there is a high number of active users or signup. These numbers go up as time goes by without exerting extra effort, yet the rate of shopping cart abandonment remains the same. Site visitors spend more time on certain pages, and the hits are increasing, but it could be possible that these consumers are complaining or having difficulty sorting out the items on a page.
There are actionable metrics that can aid in the assessment for action to be taken. The data includes things like the cart size, the amount spent on purchases, then the delivery cost. It also consists of the payment methods that are available and which are most often used. These actionable metrics show logical reasons why consumers change their minds and then abandon the cart.
Use the right payment provider
There is an abandonment rate through every phase of the sales funnel. It doesn’t happen only while the user is reviewing their cart. It could also occur while the consumer is filling out the billing details. If the reason for an abandoned cart is the lack of the preferred payment method, it is easily solved by using the right payment provider. Take note that metrics only aid in the assessment, and to improve the checkout experience of a user cannot be based on numbers alone.