Every eCommerce retailer has experienced financial loss from cart abandonment. Don’t believe it? According to the Baymard Institute, the average cart abandonment rate is over 69%, and Barilliance reports that global cart abandonment rates are as high as 77%.
While cart abandonment is an unfortunate part of working in the eCommerce world, it doesn’t have to be devastating to your business.
It’s possible to employ smart email marketing strategies to significantly decrease your cart abandonment rates and land more sales. Optimizing your checkout process can help eCommerce sites increase conversions by over 35%.
In this article, you will learn:
The top reasons why shoppers abandon carts
Solutions to decrease cart abandonment
How you can optimize your cart abandonment flow to capture more sales
Let’s get started!
Why Shoppers Abandon Carts During The Checkout Process
Before delving too deep into how to optimize your shopping cart abandonment flow, it’s critical to understand why shoppers abandon carts in the first place.
When you know why consumers click out of their carts, it’s possible to create a targeted solution. Let’s take a closer look at the top reasons shoppers abandon carts and what you can do about it.
Extra costs during the checkout process
Baymard conducted a study with nearly 5,000 participants and asked the top reasons why they abandoned carts.
50% of participants said they abandoned carts because of hidden costs or extra costs at final checkout, including shipping, taxes, and fees.
Baymard cart abandonment statistics chart
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Solution: Avoid this problem by being upfront about all associated fees. Consider showing all costs on your eCommerce store’s product page and adding a zipcode box to checkout to estimate shipping costs.
Mandatory account creation
Have you ever been interested in purchasing a product and quit the process early because the company wanted you to create an account?
If so, you’re not alone. Some stats show that 37% of people abandon carts because they don’t want to spend the time and energy, creating a customer account. Results from the Baymard Institute study showed that 28% of respondents abandoned carts due to mandatory account creation.
Baymard cart abandonment statistics
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Solution: Offer a guest checkout option. It’s quick and easy to create a guest account and still allows you to capture an email address.
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Problems with shipping
23% percent of shoppers abandon carts due to shipping issues. Problems with shipping include not having enough shipping options, costs being too high, and not having enough transparency around how much shipping will cost.
SalesCycle cart abandonment statistics
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Solution: Provide a wide range of shipping methods, delivery times, and payment options. Additionally, offer an estimate of all associated shipping costs for your customers before getting to the final checkout page.
A lengthy and confusing checkout process
Your checkout process plays a large role in whether or not consumers complete their intended purchase. Stats show that 56% of shoppers abandon carts due to prolonged and confusing checkouts.
The Baymard Institute reports 21% of consumers abandoned carts due to complicated check-out processes. While it’s not as high as some reports, it’s still significant.
Baymard cart abandonment statistics
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Solution: Reduce the number of checkout steps by only asking for critical data, using auto-film forms, and setting up auto-save captivity for when users do abandon their carts.
Not ready to buy
Recent data shows that 58.6% of US online shoppers have abandoned a cart within the last three months because they were browsing or not ready to buy. Other industry email data reports show that 34% of customers are browsing, not buying. And, 18% of shoppers abandon carts because they want to compare prices.
SalesCycle cart abandonment statistics
Source
With 81% of consumers researching products in depth before they buy, there’s little eCommerce brands can do to optimize the checkout process for browsers and researchers. But, this is where email marketing comes into play.
Solution: Optimize your shopping cart abandonment flow to help nurture interested researchers through the sales funnel.
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4 Best ways to reduce shopping cart abandonment
Now that you know the top reasons why shoppers abandon their carts and how to optimize your checkout flow to encourage more sales let’s talk about how you can use an email marketing strategy to win back cart abandoners.
Ask for an email address during checkout
You already know that shopping cart abandonment rates skyrocket when the checkout process is complicated.
If your cart abandonment rates are continually high, there cm lists truly is no reason to ask users to create an account. 4 Ways to Reduce Your Shopping Cart Abandonment enter in all their personal information, or even subscribe to your list.
All you need for a successful cart abandonment follow-up is a name and an email address. The reason?
Email marketing is not only the digital marketing channel with the highest ROI, but it’s also one of the most powerful tools for reconnecting with online consumers and capturing lost sales.
Research shows that cart abandonment emails have a purchase rate higher than 10%, and three abandoned cart emails bring in 69% more revenue than only one email. Not to mention, shopping cart abandonment emails sent within an hour boost conversion rates by 6.33%.
4 Ways to Reduce Your Shopping Cart Abandonment. When choosing the most critical bit of personal information to gather from customers, the research shows you should pick an email address every time. Below is a nice example from the men’s clothing retailer Charles Tyrwhitt.
Charles Tyrwhitt email
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Use dynamic content in your follow-up emails
While it’s critical to send out follow-up emails to cart abandoners, it’s also important to remember that not all emails are created equal. Whether it’s abandoned cart emails for WooCommerce or abandoned cart emails for Shopify, your follow-up emails should be effective in their impact of getting users back onto the site to make a purchase.
Long gone are the days of generic, mass emails. Results-driven email marketing means crafting emails that are convenient for purchasers and highly-personalized. Stats show that personalized email campaigns improve clickthrough rates by 14%.
Personalization basics include personalizing the subject line, addressing the subscriber by name, and even segmenting lists appropriately.
