It’s difficult to keep one’s fingers on the pulse of the e-commerce industry these days, as it constantly shifts and changes with every evolving platform and software out there.
But one thing is certain: shoppers are abandoning their carts at an alarming rate.
According to India Marketers, the average cart abandonment rate in India is about 51%. However, Octane’s research also shows that the cart abandonment rate across some industries in India is a whopping 70-75%.
While these numbers might seem staggering at first glance, the initial obsession of “unlimited products will spell dollar signs for all” quickly dissipated once marketers realized that landing the conversion drops on the other end is not such a quick-fire process.
Your business is like a shopping cart. It’s easy for customers to start the process of purchasing your product or using your service, but it’s just as easy for them to abandon the process entirely.
There are several reasons why customers might abandon their shopping carts. It’s critical to understand these reasons so that you can reduce the chances of it happening.
One of the most common reasons for abandoned shopping carts is high prices. If your prices are too high, customers will be less likely to complete the purchase.
Make sure that your prices are competitive and that you offer discounts or promotions to encourage customers to buy.
Another common reason for abandoned shopping carts is poor customer service. If customers have a terrible experience with your company, they’ll be less likely to complete a purchase.
Customer support is one of the most critical aspects of online shopping, with data from Microsoft showing that 95% of consumers seek it out when interacting with a business.
However, several shoppers also abandon their carts due to pre-purchase anxiety, which can include concerns about product sizing, quality, shipping, and delivery.
Microsoft’s data clearly shows that customer support is essential for online businesses, with the majority of consumers seeking it out when they need assistance. However, there is also a significant number of shoppers who don’t complete their purchases because they’re anxious about the product, shipping, or delivery. This highlights the need for businesses to provide clear and concise information about their products and services so that shoppers can make informed decisions without feeling stressed or anxious.
Last but not least, some customers simply change their minds about what they want to buy. If you give them too many options, they may get overwhelmed and abandon their cart altogether. Try to keep your product selection concise and make it easy for customers to find what they’re looking for.
When a potential customer first visits your website, you have a brief window of time to make a positive impression. This first impression can determine whether or not the customer will stay on your site or move on to another site.
There are several things that you can do to make a positive first impression.
If you can make a positive first impression, you are more likely to keep potential customers on your site and convert them into actual customers.
There are several reasons why customers may abandon their shopping carts. However, there are also several ways that businesses can reduce the likelihood of this happening. By offering excellent customer support, providing clear and concise product information, and making the checkout process as straightforward as possible, businesses can significantly reduce cart abandonment and improve their bottom line.
If you’re looking for ways to reduce cart abandonment, DialDesk is a smart place to start. By providing excellent customer service, you can build trust with your customers and encourage them to complete their purchases.
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Author Profile Varuna Raghav As a CX and marketing specialist, Varuna Raghav has more than 15+ years of experience in […]
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is the apt framework developed for deploying the right mix of People, Process & Technology in a business with a clear eye on increasing lead conversion, reducing customer acquisition & management cost, and winning customers for life.
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