Do you know that each day you’re losing potential orders on your e-commerce website. Statistics shows that people who leave the shopping cars without making payment varies somewhere form 55% to 78%. It amazes me calculating the amount of revenue that the seller losses while the customer happily composes the cart and suddenly leaves it without making payment. Here is the research on this and zeroed down to 10 main reasons why you are losing on the revenue part. We shall discuss them in an order of what effects most to the least.
1. Different pricing on the home page and the product page
Do not think the client can be invited by a displaying cheap price while selling it at higher one. The moment people see there is a price difference they tend to close the window. Approximately 56% of the people have reported that they have closed the site because a very cheap rate attracted them but actual rate was much higher.
2. Killing the time
While a lot of users on you site who leave without paying are not even serious shoppers yet you could change your mind and make them shop on the site. About 37% of the leaving chunk says that they were just browsing the site for time pass and thus checked it out and left. But the point to note here is if a person could just browse an ecommerce site checking for the products, a little push and a few discounts could lure him into buying stuff too. Thus make sure you have the deal of the day segment too.
3. Your competitor had better offerings
The customer today is very selective and likes to have complete value for money, even more than that. Thus it’s not only your website that is been searched for a particular item but at least three other popular websites too. Thus make sure you follow the competitive price monitoring tool (my previous blog post) and should know that those three other sites should not be better than you in terms of pricing or user experience both because else you might be losing approximately 36% of the total shopper community.
4. Website Navigation too complicated
Data says that 25% of those leaving the website without paying have this reason behind this. Your website needs to be tested from a layman’s side before offering it as a platform for buying. Please make sure the online user looks for conveyance first that is the reason he is trusting to buy the product without seeing it physically. Thus if you have multiple stages to complete the shopping cycle, chances are people would get bore and leave it in between.
5. Website Crashed during browsing
This missing 24% revenue loss is not at all the customer’s fault that made the effort of selecting the product and wanted to complete the sales cycle but your website crashed suddenly and eventually the customer lost patience because doing the complete thing again is a bit of a task.
6. Process too long
The process should be one click- select the product, second click- make the payment, third click- confirmation. Any extra process shall make the customer leave your website without a thought. 21% of the people leaving the site without payment have said they did that because the procedure was time for competition and that bored them. Hence keep it easy and stupid simple.
7. Multiple layer of verification
Nobody wants to be treated as a complete stranger or an outsider thus when your site asks someone to go through multilevel of payment security checks people tend to leave it as it is very annoying. Make sure it’s all about user experience. Thus you should know that if in case your payment process has excessive security checks, you may lose 18% of your clientele for no fault of anyone. Thus payment should be completed in single or maximum two steps. More time in competition results in losing the sale eventually.
Also Read : Why Retailer Should Track Competitors' Price
8. Payment Security
We still have a lot of people who think that online payment is not safe, thanks to the numerous case that had come up with people taking money and not delivering the products or auto saving your bank details. The count is not less and goes up to 17%. You should have assurance messages displayed on the website, proofs that the card details shall not be stored, and messages from a lot of happy clients and also the COD options as the Indian crowd still rely on giving cash for the product which is in their hands.
9. Payment declined
Though this has happened to a lot of users and the brave one start it afresh majority of them loose heart and close the browser. You should make sure that the payment gateway should never come in between you and your customer. Getting the payment declined pop up gives a feeling we are just not interested in taking your order thus keep checking for these issues.
10. Options not present
Be it payment options, delivery options or product options, make sure you have all for each one of them. You don’t want a client to leave your site because you did not had a brown colour shoe for 8 number or because your site wasn’t taking payment from Canara bank card or you did not had a cash on delivery option available on the site. Think from the user’s perspective and try making things easier for them so that they only leave the site when the order gets confirmed.
So if you’re running your own e-commerce business, you want to optimize the checkout process as best you can. You want to convert all of your shoppers into sales. Reducing shopping cart abandonment is a great way to do it. Just make sure you do enough testing and have seen the site is honest and ready to take the load. Losing one customer is losing one potential sale.
Source :
indianonlineseller.com,
shopify.com,
zepo.in