Cart Abandonment: Turning Tragedy into Opportunity through Strategy

Of all the things out there, nothing makes online retailers more upset and frustrated than abandoned shopping carts. In fact, it is identified as the bane of the online retail industry.

Fortunately, an abandoned shopping cart does not automatically translate to a “lost sale”. Sometimes, retailers are just too focused on possible losses that they fail to see huge opportunities presented by cart abandonment. The trick is determining how you can turn tragedy into opportunity by using smart and proven strategies.

Strategy #1: Provide Free Shipping

According to a study, 44 percent out of the 65 percent of shoppers who abandon their cart do not continue with their purchase because of high shipping costs.

Additionally, 22 percent of shoppers abandon their carts because the seller never mentioned shipping costs and other fees up front. Due to the overwhelmingly competitive nature of online retailing, many shoppers now expect free or flat rate shipping as a critical factor in their purchases.

Strategy #2: Do Not Complicate Things

One of the reasons people shop online is because it is convenient. The purpose of hassle-free shopping, however, is defeated by a complicated checkout process. Multi-page checkouts that are full of forms, questions and products turn away customers and force them to look elsewhere. Instead, consider offering an express checkout option. This allows some shoppers to forgo the obligation of creating an account to purchase goods.

Strategy #3: Remarket

No matter how much you try, there will still be customers who will abandon their carts during the checkout process, but do not be disheartened. While it is true you cannot prevent everyone from leaving, no one is stopping you from reaching out to those customers and lure them back. You can do this by remarketing. By employing a remarketing strategy, you can win back customers and convince them to complete their purchase.

Do not let shoppers leave with empty carts. Talk to us today to learn how we can turn tragedy into a wonderful opportunity.