The average cart abandonment rate across all industries is around 75%.
Online businesses should avoid placing unexpected costs like shipping charges or taxes in the checkout page to reduce cart abandonment rates. They should place costs upfront in the early stage and maintain transparency to avoid scaring off customers in the checkout stage.
As about 65% of customers look for the threshold for free shipping before adding products to the cart, companies should provide free delivery over a certain amount of spending. They should also place this free delivery threshold on the website’s one of the most prominent positions to reduce customer churns.
Simplifying checkout processes and offering multiple payment options can help marketers better convince buyers to complete the transaction. They can also use personalised text messages, emails and social media ads to retarget customers who have left the cart without purchasing.
[14 minute read]