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August 20, 2020
Average Read Time: 3 minutes
Leveraging the benefits of an e-commerce website is a great way to boost revenues. Customers and businesses are buying and selling across multiple channels. Turning your website into an online shopping experience can help you provide a great customer journey. Be sure to check out our post about why you should add an e-commerce website to your business.
However, shopping cart abandonment can lead to a leaky sales funnel. In this post, we'll:
Shopping cart abandonment happens when shoppers add items to their virtual shopping carts on your e-commerce website but leave your site before completing the purchase. Today’s e-commerce websites experience an average shopping cart abandonment rate of 69.57 percent. That’s nearly two out of every three shoppers not completing the purchase!
The abandonment rate for online shopping carts is important for business owners. A high shopping cart abandonment rate could indicate an e-commerce site that needs to be optimized for a better user experience. If you sell online, keep reading to learn more.
Let’s take a look at some statistics to better understand why online shoppers abandon ship. Baymard Institute’s 2019 Checkout Usability study details the top 10 reasons for shopping cart abandonment shown in the chart below.
This research indicates that there’s an awful lot of friction taking place during the checkout process, as well as a lack of transparency around costs. To get shoppers to cross the e-commerce finish line more often, companies need to eliminate these obstacles and barriers. Streamlining the checkout experience to make the process as simple as possible is easy to do. We've put together a list of five ways to reduce cart abandonment.
The Bottom Line: Providing transparent and frictionless purchase experiences are a must when it comes to combating shopping cart abandonment. Improving the purchasing journey using the recommendations in this article can go a long way in resolving abandonment issues. Eliminate the friction, and drive improvements in conversions, which ultimately increases cart recovery, sales, and revenues.
Want to add a shopping cart integration to your website? You can integrate this powerful feature into your e-commerce site today.
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