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What Is The Cart Abandonment And How To Decrease It?
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Shopping cart abandonment happens when the buyers add your product to their shopping cart but afterward remove it without completing a purchase.
Cart abandonment is a fundamental problem for Amazon sellers. On average, seven out of ten shoppers abandon products they’ve added to their cart without making a purchase.
The reasons range from unclear delivery and pricing conditions to security concerns.
Keep reading to find out how to calculate your cart abandonment rate and tips to decrease it.
What Is Shopping Cart Abandonment?
Shopping cart abandonment happens when the buyers add your product to their shopping cart but abandon it without making a purchase afterward.
Keeping track of your cart abandonment is vital since it directly affects conversion rates (sales that become purchases) and revenues. It may indicate unclear product offers, non-competitive pricing, or poor customer experience.
How To Calculate Shopping Cart Abandonment Rate?
The shopping cart abandonment rate shows the percentage of buyers that abandon your cart.
To determine your shopping cart abandonment rate, you must divide the total completed transactions by the total adds to cart, subtract the result from one, and multiply by 100%. Tracking this is one of the most important Amazon seller metrics.
For example, if your buyers created 350 carts and actually purchased 120 carts, your cart abandonment rate is 66%.
What Is A Good Shopping Cart Abandonment Rate?
The average cart abandonment rate in online sales is 69.57 percent.
The cart abandonment rate figures differ; they range from as low as 55% to as high as 80%. In fact, the lower the shopping cart abandonment rate, the better.
What Are the Reasons for Abandoned Shopping Carts?
Most often, buyers abandon carts due to unexpected shipping costs, the necessity to create an account, concerns about payment security, the inability to find a coupon code, and the absence of express shipping.
5 most common reasons for cart abandonment
#1. Unexpected shipping costs
Unexpected costs may include additional shipping, taxes, or other fees shopper comes across when comparing your product’s price to your competitors. Therefore, you must specify all costs upfront in your offer.
#2. The necessity to create a new account
Creating a new account and a long and complicated checkout process delay the purchase and often become a dealbreaker — shoppers lose patience and go for another product.
Winning a Buy Box is an excellent solution to that. It allows a shopper to purchase a product with the «Add to cart» or «Buy now» button in one click.
#3. Concerns about payment security
If a buyer is asked to re-enter credit card or shipping details, that may raise their concerns and result in cart abandonment. Understanding the Amazon seller payment schedule can help you set up secure and diverse payment options. Lack of payment options may also be a matter of concern. A declined credit card is one more reason for cart abandonment.
#4. Invalid discount code
Shoppers may consider purchasing the product because it includes a promo code. Almost half of the buyers abandon their carts if it doesn't work.
#5. No fast shipping option
Today’s online shoppers are used to fast delivery. They may select another product if you offer them to wait too long. Offer fast and free delivery or Prime delivery options from Amazon — fast and convenient delivery choices, which you can manage with services like Fulfillment by Amazon (FBA).
7 Tips to Decrease Cart Abandonment Rate
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Tip 1. Make your offer accurate and specific
Since unclear offer information and unexpected costs are the reason #1 for cart abandonment, you must compile your product offer clearly and explicitly. Provide detailed information about all costs, including shipping, taxes, and other additional fees. Also, be transparent with upfront costs. Try to eliminate any uncertainty your customers may have about the product.
Tip 2. Win the Buy Box
Winning a Buy Box ensures that a shopper purchases your product with the «Add to cart» or «Buy now» button in one click. That simplifies the purchase decision for the buyer. In addition, customers trust Amazon’s Buy Box and believe it gives the best possible value for their money.
Tip 3. Build trust with the buyers
Cart abandonment often happens due to a lack of trust in the company or payment method. Clearly indicate your contact information to build trust. Eliminate concerns about payment security by adding multiple payment methods. Create social proof — collect positive customer reviews and feedback to grow trust.
Tip 4. Give shoppers incentives to buy now
To decrease cart abandonment, convince your shoppers to buy your product right now. For that, you can use urgency techniques. Add limited-time offers or sell limited-edition products. Learning how to increase sales on Amazon can provide more strategies for this.
Tip 5. Use valid discounts and coupon codes
Often, buyers look into purchasing your product because it includes a promo code. Almost half of the buyers abandon their carts if it doesn't work. Therefore, ensure promotional and discount coupon codes work when adding them to your offers.
Tip 6. Retarget buyers with abandoned carts
Some shoppers start the checkout process but don’t complete their purchase. You can retarget such customers to your listing by sending emails. Remind them about unfinished purchases, and encourage to complete them. Include a call to action and consider using Amazon advertising strategies.
Tip 7. Offer fast and free delivery
Today’s shoppers want to get their orders fast. Making them wait too long may be a dealbreaker. Offer fast and free delivery or Prime delivery options where applicable. Understanding the difference between FBA vs FBM can help you choose the right shipping method. Also, highlight your shipping information.
Related: Customer Service by Amazon: All You Need to Know
Final Thoughts
Shopping cart abandonment happens when the buyers add your product to their shopping cart but afterward remove it without completing a purchase.
Cart abandonment is a fundamental problem for sellers. On average, seven of ten shoppers abandon products they’ve added to their cart without making a purchase.
Keeping track of your cart abandonment is vital since it directly affects conversion rates (sales that become purchases) and revenues. It may indicate unclear product offers, non-competitive pricing, or poor customer experience.
While growing sales and reducing cart abandonment is each seller’s target, selecting a profitable product to resell is equally essential. This is done through product research.
Seller Assistant helps Amazon sellers identify and pick out winning high-margin products. This is a product research browser extension that provides you with all the necessary instruments to make informed decisions about which products to resell and maximize your profits. It lets you instantly see all product data on Amazon product and search pages.
Seller Assistant is an all-in-one product sourcing software offering all the features vital for product sourcing. It combines three extensions: Seller Assistant Extension, IP Alert, and VPN by Seller Assistant, tools: Price List Analyzer, Brand Analyzer, Seller Spy, Bulk Restrictions Checker, and API integrations, and features: Storefront Widget, Side Panel View, FBM&FBA Profit Calculator, Quick View, Stock Checker, IP Alert, Variation Viewer, Sales Estimator, Offers, Restrictions Checker, and other features that help quickly find high-profit deals. Seller Assistant also offers integration with Zapier allowing to create custom product sourcing workflows.
