Abandoned cart. We are all guilty of doing this in our personal shopping habits. You see something you like, add it to your cart, and then leave it there…FOREVER!
This scenario, which is an everyday occurrence, is known as abandoned cart syndrome. For retailers, this syndrome is one of the most frustrating consumer habits. In March 2020, 88% of online shopping orders were forgotten in the shopping cart.
Why does abandoned cart syndrome occur?
A study conducted by Usability Sciences highlighted that when shipping options were not deemed as acceptable, customers tend to abandon their shopping cart. In the study, the cost was found to be the top factor followed by the estimated time of arrival, on whether an order is submitted. However, the overarching factor of all the top reasons for cart abandonment is visibility. We assessed the top two reasons (cost and the estimated time of arrival) and we broke down how you can provide better visibility for each scenario.
Surprise! We charge for shipping.
Think of a time when you bought an item around $10 – $15 and when you finally made it to checkout, the shipping cost was the same amount as the item you intended to buy, which literally doubled your spend. Not understanding the full cost at the beginning of the shopping experience can be detrimental. Without full cost transparency, consumers are more likely to reduce their order or completely abandon it altogether. Providing visibility on what your shipping policy states upfront helps to reduce the number of orders left in the dust and it aids in building trust with your customers.
By offering free shipping, you can actually generate more money. In the study by Usability Sciences, the average dollar amount per basket was $142.93, when free shipping was offered. Compared to a shopping cart that did not offer free shipping, the average dollar amount per basket dropped to $118.29.
Estimated time of arrival
In addition to cost visibility, businesses can be more preemptive in defining the estimated arrival time. A lack of visibility into the estimated arrival time could be preventing a customer from completing their purchase on your website, especially consumers on a deadline (events, holidays).
2+ day shipping
With Amazon’s prevalent two-day shipping, you would think people are getting more impatient. However, data shows that 88% of people are willing to wait between 4-7 days for their order as long as they receive free shipping. By providing visibility for people who are willing to wait, you are creating a better overall shopping experience which leads to less abandoned carts.
Avoid fewer pending orders!
Discover how Deposco can provide you with the visibility you need to receive and retain more orders.