Picture this: Your online business has a great product selection and pricing strategy. Someone visits your website, they add items to their cart, and are now headed to checkout. Then — they vanish.
What happened? And why is this happening for a sizeable portion of your customers?
You're not alone. According to UX research institute Baymard, the average cart abandonment rate in the US is 70.19%. Essentially, for every 10 customers who fill their cart on your e-commerce platform, three will complete their purchase. In the Asia Pacific region, this drops to less than two customers for every 10 carts filled, according to JCB Co., Ltd.
Baymard also discovered extra costs (shipping, taxes, and additional fees) being too high was the top reason why shoppers abandoned their cart. Another common reason was customers not being able to view or calculate their total order cost upfront.
One more sentiment many shoppers shared was that the platform did not have enough payment methods for them to choose from.
When your customers abandon their cart, they're disengaging at a critical point in the sales funnel. So, how can you help them to complete their purchases? We've put together a list of eight hassle-free ways to improve their user experience – and help you improve your e-commerce sales.
Now that you know how to reduce your cart abandonment rate by improving the user experience for your online store, you might want to consider other strategies too. These are equally low-effort to implement while helping you achieve your other business goals too.
54.2% of US and UK merchants cite unexpected shipping costs as key to determining why shoppers abandon their carts.
Although providing free shipping might not be possible for every market your company operates in, having multiple shipping options gives customers the power of choice. They can select the shipping method which fits their needs best, whether it's a quicker but pricier one or slower but more affordable option.
Crucially, your customers won't feel like they're locked into a single shipping method.
Businesses employ retargeting as part of their marketing strategy for individuals who've previously visited their e-commerce platforms or social media pages.
Personalised follow-up emails are part of this, reminding your customer they've abandoned their cart and what's left in it. It's also an opportunity to gain additional sales through cross-selling similar products, upselling higher-priced offerings, or recommending items complementing the items in their cart.
This email is also a channel to offer incentives for your customer to complete their purchase, such as discount codes and samples.
According to email marketing software firm Moosend, over 40% of cart abandonment emails are opened. Also, 50% of shoppers who abandon their cart and read through the email's content then proceed to complete their purchase.
Improving the user experience for your online business goes a long way. A more seamless shopping experience means greater customer satisfaction. This then translates to increased conversions and a higher customer retention rate. The best part? The strategies listed above aren't too time-consuming or tedious to implement for your website.
The next step is to partner with a payments service provider who can help you increase your e-commerce sales. With one easy integration, Antom gives you access to 1.5 billion consumers and 250+ payment methods like Alipay, PayPay and GCash, so your customers can pay in their preferred way.
Trusted by leading brands like Spotify and Google, we also offer a comprehensive suite of payment solutions to help you expand into new markets. This increases your payment success rates while letting you settle cross-border revenue in multiple currencies.
To find out more about how Antom can help you improve your revenue, get in touch with our payment experts today.