Online retailers are struggling with abandonment issues as of late. But don’t worry, nobody’s getting left out in the cold - we’re talking about ‘Cart Abandonment’.
Abandonment is an ecommerce term used to describe a visitor to a web page that leaves before finishing any transactions they are in the middle of. Have you ever placed a number of items in your online basket only to have second thoughts and close the page down? This adds to a business’ ‘Cart Abandonment Rate’.
Cart (or basket) abandonment is the most popular but there are many other types of abandonment out there:
- Booking Abandonment: This refers to booking within the travel Industry, where a customer has started booking a flight or a package holiday and exited before completing their purchase. They differ from online shopping as they might have selected times and dates as well as a specific flight.
- Form Abandonment: Guilty. For most online subscriptions there is some degree of form registration; whether you are looking for car insurance, or signing up for Netflix. These forms vary in length and the longer and more technical they get the more likely people are to give up without finishing it.
- Browse Abandonment: Similar to cart abandonment but customers don’t necessarily have to enter anything into their basket. These rates look at the customers who browse a web page, peruse a few separate items but then leave without buying. It’s essentially window shopping - but online.
Cart abandonment rates vary by sector, as they have different purchase processes as well as different customer behaviours. Gaming and fashion sites boast the lowest average abandonment rates due to the nature of their products.
These sites offer incentives in the form of discounts on orders, and free bets when you make a deposit.
As the payment process becomes longer across different sectors we start to see a rise in the abandonment rate.
With a global average cart abandonment rate at over 70%, looking at the reasons why people are abandoning their online purchases can help us make changes and help bring down these numbers.
With only 6% claiming they left due to lack of payment options and 4% saying they experienced a technical issue, it may not be the case that there’s a problem with the online platform. But is there more the site can do to help customers?
34% claimed they were just window shopping and weren’t ready to buy, with 18% citing they wanted to compare prices as the reason they left. From this information retailers have included impartial reviews and price comparisons to help customers decide.
More helpful tips on Ecommerce design in Manchester can be found with the team here at VisionSharp!