When it comes to eCommerce websites, a smooth checkout process is an absolute necessity. Failing to offer your customers security and simplicity when making a purchase will see them leave your site, with the likelihood being they’ll head directly to your competitors – definitely something you want to avoid!
Regardless of the size of your business or the number of products you have available, monitoring your website’s checkout abandonment rate is key to your success. Don’t be alarmed if you see plenty of people giving up when using your checkout process – this isn’t uncommon, even for industry giants like Amazon for example.
If you do a little digging, you can find some truly terrifying statistics about checkout abandonment. The latest research by the Baymard Institute took a sample of – the worst offender suffering from a 78% abandonment rate!
A recent study shows 37 independent eCommerce websites and found a combined average shopping cart abandonment rate of 69.23%Tweet this now
So how can you reduce your site’s checkout abandonment rate?
First things first, you need to really understand why users are choosing to leave your eCommerce website during the checkout process. The study from Baymard explored this perfectly and showed the 5 most popular reasons for abandonment as:
1 – Additional costs too high (shipping, tax, fees etc)
2 – An account was required to make a purchase
3 – The checkout process was too long or overly complicated
4 – Total order costs were not presented upfront
5 – Website errors or crashing
The number one issue hasn’t been helped by things like Amazon Prime’s free two-day shipping which has raised shopper expectation somewhat. Of course, you’re not Amazon so what can you do to compete?
The key is streamlining your shipping process wherever you can, keeping costs low but delivery speeds fast. There are actually a variety of shipping solutions that can integrate courier services close to you, allowing you to manage tracking, shipping and inventory yourself. If taxes are your concern, try offering a special deal to customers that are in a particularly expensive country geographically.
Of course, the biggest change you could make is to take the plunge and offer free shipping. This could ultimately be hugely impactful and your costs could be compensated by a drop in checkout abandonment rate.
Ultimately the bottom line when it comes to reducing shopping cart abandonment is to understand that looking at the cause is only part of the solution. You’ll also need to understand why buyers feel they can leave your site empty-handed and how you can introduce an oh-so-simple checkout process that encourages buyers instead of browsers.