Retail Analysis
orders on a mobile device were not completed. With the growing prevalence of mobile commerce, optimising the mobile shopping experience is critical. A poorly designed or slow-loading mobile site can lead to frustration and abandonment. Ensuring that your e-commerce platform is mobile-responsive and offers a seamless experience across devices can help capture and retain mobile shoppers.
Distractions and interruptions – shoppers are often interrupted during their online browsing and shopping journeys. Distractions, whether from other websites, notifications, or real-life interruptions, can lead to cart abandonment. Implementing features like save-for-later options or sending gentle reminders via email or SMS can help re-engage shoppers and encourage them to return and complete their purchases.
Unclear return policies – uncertainty about return policies can also contribute to cart abandonment; particularly if there is an associated cost to return an item. Free returns have become largely expected within the UK but online retailers in recent years have tried to address the growing challenge of serial returns whereby consumers purchase items online with the intent of return some or all of their online orders. As a result some retailers have started to charge customers to return items. Shoppers may hesitate to finalise their purchase if they are unsure about the ease of returning items or obtaining refunds. Clear, straightforward return policies and easy-to-find information about returns can help alleviate these concerns and boost shopper confidence.
Limited product information – incomplete or insufficient product information can deter shoppers from making a purchase. Detailed product descriptions, high-quality images, and customer reviews are essential for helping consumers make informed decisions. Providing comprehensive product information can reduce uncertainty and increase the likelihood of conversion.
Unexpected costs – one of the leading causes of cart abandonment is unexpected costs that appear during the checkout process. Additional charges, such as shipping fees, taxes, and handling costs, can catch shoppers off guard and deter them from completing their purchase. Research indicates that 60% of cart abandoners cite high extra costs as a primary reason for their exit. Transparent pricing from the outset and clear communication about potential additional costs can help address this issue.
Complex checkout process – despite the growing demand for retailers to provide seamless checkout processes, many online retailers still have overly complicated checkouts that require a number of steps or require the customer to create an account with that retailer. According to research, long, drawn out checkout process is the reason why 18% of online shoppers globally abandon the process. A convoluted or lengthy checkout process can frustrate and discourage shoppers. Every extra step or form field increases the likelihood of abandonment. A streamlined, user- friendly checkout experience is crucial. Features like guest checkout options, minimal form fields, and progress indicators can significantly reduce friction and improve completion rates.
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Lack of payment options – according to research, 9% of online shoppers have abandoned the checkout process due to a lack of their preferred payment methods being offered. In an increasingly globalised market, offering a variety of payment options is essential. Shoppers have diverse preferences when it comes to payment methods from credit cards to cryptocurrency. Payment providers such as Apple Pay and Google Pay have all risen in popularity in recent years and many online consumers have come to expect these payment solutions as standard. Limiting payment options can lead to frustration and overall checkout abandonment. Providing a range of payment methods not only caters to different preferences but also enhances the overall online user experience.
Adopting the right payments solution Reducing basket abandonment is a priority for ecommerce businesses that are trying to refine their online sales strategies. Adoption of a flexible payments solution can address these challenges through a variety of features which are designed to simplify and improve the customer checkout experience. From one-click checkouts and mobile optimisation to supporting local payment methods, the right payment solution can create optimised checkout pages that work effortlessly for both businesses and their customers.
One-click checkout – when a customer decides to make a purchase, they are often discouraged by lengthy checkout processes that require multiple steps. Offering One-click payment methods mitigates this issue. Following an initial transaction, customer information is safely secured, allowing them to check out in the future with a single click. This reduces the time commitment required from customers, encouraging them to finalise their transactions.
Local payment methods – with ecommerce businesses striving to reach customers across the globe and reaching oversea markets, adopting a payments solution that can support several currencies and local payment methods, businesses can cater to a broader range of customers. Offering familiar payment options can increase trust and encourage shoppers to complete their transactions, reducing the chances of basket abandonment.
Closing the sale – cart abandonment is a multifaceted challenge that requires a comprehensive understanding of the underlying causes and a strategic approach to address them. By focusing on simplifying the checkout process and providing a variety of payment options to optimise the mobile experience e-commerce businesses can significantly reduce abandonment rates and improve their overall conversion rates. As the e-commerce landscape continues to evolve, staying
attuned to consumer behaviour and continuously refining strategies to enhance the online shopping experience will be essential for success. By addressing the pain points that lead to cart abandonment and implementing effective payment solutions, retailers can not only recover lost revenue but also build stronger, more positive relationships with their customers. Investing in a seamless, user-friendly shopping experience is not just a matter of improving conversion rates, it’s about creating lasting customer loyalty and ensuring long-term success in the dynamic e-commerce environment.
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