Many retailers have to deal with it every day: consumers add products to their shopping cart, start a checkout process for their online order, but drop out of the process before completing the purchase. This phenomenon of ecommerce cart abandonment is a major problem for online stores that must be prevented. The best way to identify the ways in which lost sales at checkout can be prevented is to find out why online shoppers abandon carts. In this blog piece we have therefore identified the most frequently mentioned reasons for cart abandonment during checkout and devised a solution for each reason.
Why avoid cart abandonment?
It appears the average cart abandonment rate is estimated between 60-80%. In other words, 60-80% of online shoppers choose to leave the website without completing a purchase. With abandonment rates running so high, this represents a significant loss in potential sales, revenue and reduced conversion rates for etailers. If etailers do not take action, the results could go beyond simply missed sales but also customer disloyalty and brand damage. By devising a solution for the most frequently mentioned cart abandonment reasons, this effect can be reversed, and sales and conversions can be increased.