The 7 Best Ways to Reduce Cart Abandonments & Maximize Profits!
We've all done it – gone to a website to buy some nice new widget that we absolutely must have now and eagerly add that item to our shopping cart, only to find that the checkout either makes it difficult to complete or there's something else about the process that sows doubt & frustration — so, we abandon the process.
If this sounds familiar, you're not alone!
In fact, according to Statista's survey of 500 global brands worldwide...
In March 2021, almost 80 percent of online shopping orders were abandoned, i.e. not converted into a purchase.
So the question is, Why?
As the chart below shows, every sector (except grocery stores) reported at least a 70% abandoned cart rate.
The top 3 reasons for leaving without purchasing were...
- Extra & hidden costs
- Lack of trust in the company
- Checkout complexity or lacking a "guest" checkout option that doesn't require an account setup.