How to Reduce Cart Abandonment Issues in eCommerce Marketplaces?

Imagine a scenario where you launch an eCommerce marketplace and invest heavily in it. Fortunately, your eCommerce website ranks well on the search engine and you are getting a lot of traffic. It is obvious to expect high conversion rates in this situation but… you’re still not getting the expected results.

That felt like a nightmare right? Because Abandoned Carts are NIGHTMARE in true sense for the eCommerce website owners!

Before we jump on how to get rid of this problem, let’s discuss why that happens.

Reasons For Shopping Cart Abandonment

There are not one or two but numerous reasons why people add products to the cart and still decide to not buy it. Let’s look into these one by one:

Technical Issues on the Website

Suppose, a buyer has added a few items in the cart and the payment is processing but the process is taking too long and the website crashes. What do you expect to happen after that? The buyer will feel insecure about making the payment on your website again. So, in that case, the buyer will probably switch to another website for purchasing the same or a similar product.

According to statistics, nearly 22% of potential buyers abandon their shopping cart due to technical problems.

Poor Checkout Experience

Do you know? Nearly 27% of people abandon their shopping cart if the checkout experience is bad. Here are the factors responsible for poor checkout experience:

  • Long forms for adding details
  • Slow loading
  • Key options like ‘Keep Shopping’ or ‘Checkout Now’ are not available
  • Lack of payment options

Take a look at various other reasons adding up to the cart abandonment rate during checkout:

Source: Sleeknote

Hidden Cost on the Products

I am sure we all have abandoned carts one time or another. And most of the time it happens due to additional or hidden product costs like shipping, tax, etc showing up at the last step of the checkout process.

If you are an eCommerce marketplace owner and your competitor is offering the same products without any hidden price or with better discounts, you have got to do something about that. Do not forget that extra costs are one of the key reasons why customers abandon their carts.

Window Shoppers

These casual shoppers contribute a lot to the increasing shopping cart abandonment rate. This is the section of people who will surf multiple eCommerce websites to see different products. The reason for this casual stroll could be anything like comparing the products, checking offers, etc.

If your website and product offerings lack motivation, these potential customers could never get converted into buyers. Using high-resolution product images, creative product description, offering limited time offers, limited edition products and various other factors like these can motivate the window shoppers to make the purchase.

How To Reduce The Shopping Cart Abandonment Rate?

  1. If you can not afford to hire a team of developers, then choose a custom and feature-rich eCommerce platform that offers ‘Abandoned Cart Management Feature.’

For instance, Yo!Kart — It is an eCommerce marketplace platform that has in-built eCommerce conversion features like ‘Abandoned Cart Recovery’ to help follow up cart abandoners and motivate them to make the purchase.

2. Launch your eCommerce website after extensive testing to avoid any technical issues. Choosing the right technology and developers is very important for the success of an eCommerce marketplace.

3. Ensure hassle-free checkout process by keeping minimum steps, shorter forms and multiple payment options like debit card, credit card, eWallets, COD, etc.

This is how single page minimized checkout looks like:

4. Be transparent about the cost of the products from the very beginning. People don’t like last moment surprises when it costs them extra bucks. If additional costs are very high, you can offer them special discounts and offers to compensate for them.

These offers and discounts can also help you motivate the casual buyers to make a purchase!

5. UX plays an important role when it comes to the success of an eCommerce website. Focus on building an online marketplace which is search engine friendly, user friendly, highly functional, intuitive and is definitely easy on the eyes.

Want to learn more about reducing the abandoned cart rate? Read Shopping Cart Abandonment Reasons and How to Counter Them

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