From Cart to Completion: Reducing Checkout Abandonment
It is a well known eCommerce stat that over two in three users will abandon at checkout after taking the time to browse a website and add items to their shopping cart/basket.
In fact this data is higher in 2024, with the latest data the Baymard Institute have collected they have calculated the average cart abandonment rate of 70.19%. (This value is an average calculated based on 49 different studies containing statistics on eCommerce shopping cart abandonment).
Following an add-to-cart step, there are several reasons in the checkout flow that can derail a potential purchase. Addressing cart abandonment is crucial for recouping potential revenue. Conservatively, recapturing just a small percentage of shoppers who abandon their checkout delivers a healthy increase in overall conversion rate.
There are a few core reasons customers repeatedly cite for why they do not complete their transaction. In this article, we will cover some of the top reasons customers abandon their carts along with ideas to mitigate this loss and recoup potential revenue.
Unexpected costs or shipping rates (47%)
The biggest reason customers abandon a transaction is unexpected costs, fees, or shipping rates — and the inability to see those up front. With large eCommerce companies setting the baseline, customers have come to expect free shipping options. As a result, businesses need to analyse and test free shipping thresholds, offer promotions for first-time buyers, and consider the long-term value of customer acquisition.
The site wanted me to create an account (25%)
Customers want the flexibility to be able to checkout as a guest. By insisting customers create an account to checkout you run the risk of customers going to a competitor to complete their purchase.
Delivery was too slow (24%)
If you have the capabilities consider offering next delivery, weekend delivery and the potential for nominated day delivery and time slots. Customers want to have delivery options when making their purchase.
Payment Trust (19%)
A surprisingly high percentage of 19% of customers will abandon a checkout if they don’t have trust in payment options. Look to display card types and payment methods to give trust signals to the customers. Customer reviews and product reviews can also act as a good trust signal for customers to help install customer confidence ahead of a purchase. Too long checkout process (18%)
A recent Baymard Institute article reported that the average checkout contains 11.3 fields. Look to keep the checkout simple, reduce fields where possible and display a checkout progress bar to inform customers of their progress
Friction, distractions, and site performance issues (14%)
Once a user is at the checkout avoid all distractions - keep the user focused on completing the checkout. It goes without saying but ensure the checkout and website are load tested especially ahead of peak season trading periods. The checkout area will be the key area to load test and look to ensure key user journeys are analysed and reviewed for fraction ahead of peak season.
Payment methods (11%)
Customers will want flexibility on payment methods. Look to speak to your customers on a regular basis to identify their preferred payment methods. With a wide range of payment methods now available such card payments, PayPal, BNPL and Digital Wallets look to ensure that you have options that suit your customers and their requirements.
Returns policy wasn’t satisfactory (11%)
Often overlooked and not really part of the checkout, but look to provide customers information on how they can return orders. If suitable for your business look to automate the return process as much as possible.
Please contact The Pixel to find out more about our Total Digital Commerce solution and how we can support your business to reduce checkout abandonment.
