In internet retail, the biggest challenge that is part of the big scope of things is the shopping cart abandonment rate most if not all ecommerce websites face. In a report by Forrester, shopping cart abandonment has risen to 71% which translates to an approximate $18 billion dollar issue for internet retail.
7 out 10 shopping carts in ecommerce result in abandoned cartsâ€¦7 out of 10â€¦.thatâ€™s a large number. Maybe we can all agree it can be worse and the report doesnâ€™t really tell the story much as far as if those 3 other carts convert to sales because if 3 out of 10 people shop on our website, we would have incredible businesses.
Shopping cart abandonment isnâ€™t looked at enough by start-up or small internet retailers as what counts at the end of the day is just looking at traffic and sales. However, by analyzing your shopping cart abandonment rates, you can analyze user behavior better and understand what items may be being abandoned the most, etc.
Itâ€™s important to point out that shopping cart abandonments are caused by a few different reasons on any particular website which can include price, trust factors, navigation, design and any other factor that may cause a user to think twice or leave the ecommerce website. Nevertheless, itâ€™s important that you put a strategy behind getting some of those shoppers back to your website to complete the sale.
Two strategies can be put toward bringing these visitors back.
1. Automated Email Shopping Cart Platforms: There are platforms that will email your customers back (if they create an account or sign up to your website prior to purchase or if they start completing a part of checkout) which will email your customers to bring them back to your website to complete the sale. These types of programs can turn out to have a good conversion rate by incentive shoppers by bring them back with a coupon or a great message to convince them they should shop and buy the product they were looking for on your website.