The rampant growth of e-commerce in markets across the World needs no introduction, such a rapid ascent brings with it challenges, and no challenge in the industry is as ubiquitous as shopping cart abandonment. But really, how enormous is this challenge and what kind of numbers are we talking about?
The folks at Milo have created a wonderful inforgraphic with the facts and figures around shopping cart abandonment. The information was sourced from Comscore and Entrepreneur; huge credit to all of them.
Here’s the infographic and some perspective to it
The Hard Hitting Fact
67% of shopping carts are abandoned right before the transaction is completed.
That’s a huge number considering that the customer is at the final step of the transaction cycle and yet doesn’t go through with the purchase – a classic case of need for engagement.
The Biggest Sticking Point
The biggest dampener for consumers seems to be shipping, here are some numbers to crunch
- 40% abandoned carts because shipping and handling costs were listed too late.
- 55% abandoned carts because shipping costs were too much.
- 25% did not buy because the estimated delivery date was not available.
- 38% opted out because delivery would take longer than a week.
A quick glance through these facts and you get a sense that each of these challenges can be overcome.
What Consumers Want?
So, what does it take to make the customer go all the way?
- 73% wanted free shipping options.
- 60% wanted estimated delivery time.
- 56% wanted multiple payment options.
Moral of the Story
- Engage your audience with a service like ClickDesk and answer as many pre-sales questions as possible.
- Offer free shipping whenever possible.
- Offer multiple payment options.
- Strive to ship products within a week and keep customers in the know about the estimated delivery date.
- Provide awesome support at all times.
Implement all of the above or even some aspects, and you get to live happily ever after in your story.