How To Fix Shopify Loss of Revenue Due To Cart Abandonment
The Top 7 Issues for Shopify Retailers Caused by Cart Abandonment
Shopify cart abandonment can be the bane of a retailers’ existence. If your customers are frequently visiting your site, filling their virtual carts, and leaving them for days without pressing the “checkout” button, figure out why by decoding your recent analytics, sending SMS marketing messages to these customers, and following up with emails that target the customers’ potential purchases.
According to the Baymard Institute, up to 69.82% of users fill their virtual carts and then abandon them. Unfortunately, cart abandonment can cause several issues for the small business owner that go beyond the loss of revenue. Consider these seven and make a plan for combatting each one.
1. Product Unavailability
If a customer puts a product in his or her cart and then leaves it there indefinitely, it can show on your website that it is “out of stock” when it really isn’t. Prompt customers to completely check out instead of leaving products sitting in their carts that others want to buy.
2. Reduction in Conversion Rates
Your customer may have gotten 99% of the way through the checkout process — and then remembered that she had to eat lunch and abandoned her cart entirely. Though this customer wants to buy and could almost be included in your conversion rate statistics, now she can’t be because she didn’t press the checkout button.
3. Loss of Revenue
This one is obvious: If your customers aren’t checking out, you’re losing money! Consider making the process simpler or rechecking your prices to ensure that they are the most competitive in the market.
4. Reduction in Ad CTR
Ad clickthrough rates are affected when the customer clicks your eye-catching ad, fills the cart, and then leaves without checking out. Check your analytics if you think this is an issue.
5. Negative User Experience
Do your customers frequently complain that your checkout process is too long or complicated? Make things easier with a user-friendly interface and quick, secure payment options.
6. Waste of Time and Effort
You may feel discouraged or that you’ve wasted your time if your customers are abandoning carts left and right. Focus on retargeting ads, follow-up emails, and SMS marketing prompts to get your customers interested again.
7. Skewed Website Analytics
Your analytics may not make sense if you have a high rate of cart abandonment. Use a program that has a high level of detail to see the differences between those who visited your site, those who filled their carts, and those who actually made a purchase.
Don’t be discouraged if you have a high percentage of cart abandonment. Most retailers do. Aim for under the average percentage and do your best to remedy the problems on your site that prompt customers to forget about or leave their carts!
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