How to Reduce Shopify Cart Abandonment Rate?

Imagine a customer visiting your Shopify store, browsing your amazing products, adding some of the items to their cart and gone. Cart abandonment is one of the great disasters, and it is a very common challenge for eCommerce businesses. 

In fact, the cart abandonment rate averages a staggering 70% across various sectors. This means that seven out of ten potential customers walk away without finishing their purchase. There is still hope-nothing will be lost.

By understanding why customers abandon their carts and knowing what proven strategies can reduce that, an online store owner or manager can minimize the Shopify cart abandonment rate significantly. 

Searching for causes of cart abandonment, understanding key metrics to look after, and enumerating some most effective ways to turn such abandoned carts into real sales will be discussed in this article.

What is Shopify Cart Abandonment?

Shopify cart abandonment means when a customer adds products to the shopping cart but leaves the website incomplete without any purchase. It is like filling a grocery cart in a store and then walking away leaving everything purchased.

This becomes a vital issue for any online store, as it will affect the direct revenues from that store. Understanding why customers leave without completing the purchase and finding ways to address these questions is critical in improving a store’s performance.

You should always be ready to reduce the cart abandonment rate on Shopify and increase sales. First, understand the current checkout process and how it may improve. Also implement abandoned cart recovery emails, exit-intent popups and other tools to actively reach out to customers.

If assistance is needed, reach out to Shopify development company having experience in improving abandonment rates. 

Key Metrics to Track to Understand Shopify Abandonment Rate

Cart Abandonment Rate Formula

You can calculate the cart abandonment rate with this simple formula:

Cart Abandonment Rate = (No. of Completed Purchases / No. of Carts Created) x 100 Cart Abandonment Rate = (No. of Carts Created / No. of Completed Purchases) x 100

For instance, if out of a hundred customers adding items to their carts, only thirty complete the purchase, the cart abandonment rate for that store becomes seventy percent.

Benchmarks for Shopify Stores

Optimizing checkout processes and improving customer experience will help bring down the cart abandonment rates lower than the expected average rate of 70% across all industries.

What is the Average Shopping Cart Abandonment Rate?

It is well known that every industry has its own average shopping cart abandonment rate. Some of them include:

– Retail: 75%

– Travel: 81%

– Fashion: 69%

– Electronics: 73%

Understanding your benchmark for the industry will help you set reasonable improvement targets.

How to Check Abandonment Carts in Shopify?

To begin, log in to your Shopify account and navigate to the main dashboard. Click “Orders” under the left menu. Next, go to the “Orders” section and click on “Abandoned Checkouts”.

Here you will find a list of all your abandoned carts with details such as date/time of abandonment, Items in the cart, customer email address etc. You can also click on individual carts for details — such as customer notes or abandoned stages in the payment process.

Top Common Reasons for Shopify Cart Abandonment

Complicated Checkout Process With Hidden Costs

High shipping costs are one of the major reasons for Shopify cart abandonment by customers. Nobody likes surprises at checkout, especially in terms of fees.

Not only long but confusing checkout processes annoy customers. From completing a lot of forms to creating an account, they might decide to give up. Technical problems that manifest as slow loading times, broken links, or problems related to a payment gateway drive customers away too. 

Any hidden fees, taxes, or other surprise additions that weren’t forewarned to customers about the total cost at checkout can be the biggest detractor for customers.

Lack of Trust Signals

As digital frauds and data breaches are escalating, customers are worried about the safety of their financial and personal information. Your customers will abandon the cart in the blink of an eye if they do not feel secure.

Every customer wants safety while shopping online. These trust signals consist of SSL certificates, customer reviews, or secure payment icons; the absence of these things is likely to make your customers not purchase from you. 

The first step is to make sure that your website or brand is credible. Because let’s be honest. The last thing anyone wants to do is buy something from a sketchy website.

Second, significantly increase how you secure your payments. Most customers want to know about how you handle their payments in a secure manner.

Limited Payment Options

Even if a customer has come a long way through the sales funnel, lack of common payment options like PayPal, Apple Pay, or Google Pay on their way to payment could finally lead to abandonment. 

Despite the substantial growth of digital payments, a considerable number of customers still prefer the traditional cash on delivery (COD) method. If your Shopify store doesn’t offer multiple payment options, this oversight will directly contribute to an increase in abandoned carts.

Force Login For Purchase

24% of people who are being asked to create an account leave online carts. The reason being, creating an account is a tedious process and a huge commitment from a prospect. If they are a regular customer, they wouldn’t mind registering for your store. However, a first time customer is not going to sign up for you immediately. An alternate way is to also give your customers a guest checkout option. 

Strategies to Reduce Cart Abandonment on Shopify

Optimize the Checkout Process

Minimize the tediousness involved in checking out by converting the steps into fewer and scrapping unneeded fields. Keep a single page checkout or enable them to save their information for future purchasing.

Transparent Pricing

Be straightforward about costs. Keep shipping fees and taxes at the very beginning of shopping activities to avoid any shocks at checkout.

Enhance Website Performance

It should be very fast and free from errors. Use some tools such as Google PageSpeed Insights to identify and fix performance issues. 

Build Trust with Customers

Add trust signals such as customer reviews, security badges, or a clear return policy- all to give assurance that your shop is safe and sound.

Use Abandoned Cart Recovery Emails

Include many options on payment such as credit cards, digital wallets, buy-now-pay-later, etc for lower Shopify cart abandonment.

Retargeting Strategies

Retarget customers about what’s left in their cart by showing them such as ads on Facebook or Google.

Live Chat and Customer Support

Customers should be able to access live chat regarding questions during checkout.

Offer Guest Checkout

Some people would not like to create an account. Hence, they can check out as guests and make the procedure simpler.

Mobile Optimization

Most shoppers use mobile nowadays. So, optimize your store for mobiles and make it very easy to shop and check out using a smaller display.

Send Push Notifications

one can easily use the browser push notifications for hooking the customers up with the abandonment cart. A little-to-the-point and call-to-action will do it.

Conclusion

Reducing the Shopify cart abandonment rate involves a study of customers and the removal of obstacles that impede them. Therefore, by optimizing the checkout process, building trust, and establishing businesses like abandoned cart recovery emails or exit-intent popups, abandoned carts come to life for successful selling.

Even minor changes yield huge results; start employing these steps today, and see your conversions shoot up! Need help? Reach out to experts at Webuters.