If you have items available for purchase on your website, chances are that your first priority is making money from sales. Unfortunately, the majority of brands online are unable to effectively leverage this business opportunity. Cart abandonment is the term for when a visitor shops around and adds an item or items to the checkout cart, but never completes the order – and it happens far more often than you’d think.
According to an article published by Quick Sprout, 68% of shoppers are culprits of cart abandonment. This could be attributed to a number of reasons: lack of confidence with site security, lower prices from competitors, aversion to the total checkout amount once taxes and shipping are included, or the visitor was simply “window shopping”. In their handy infographic, Quick Sprout identifies potential solutions to some of the more common reasons that customers site cart abandonment.
The key takeaway they want business owners to understand is that a majority of the factors that come into play while shopping online are in the brand’s control, and not simply subject to the whims of the customer. Oftentimes, it is a lack of information or the cost of products and shipping that drives new and repeat visitors from reaching the order confirmation page. In fact, 22% of consumers abandoned cart because no shipping information was available, and 32% stated that the overall cost was too expensive to continue with the order.
If you’re unsure of which facets are having a greater impact your site conversion rate, Trinity Insight’s expert team can help to not only pinpoint your weaknesses, but help to turn them into strengths. Your total monthly revenue divided by .32 equates to lost monthly revenue. How much are you losing out on?