Shopping cart abandonment is a big problem for ecommerce businesses. Shoppers visit a site, put items in the cart, click checkout and then do not buy. According to research by eMarketer, 60% of US online retailers are experiencing shopping cart abandonment rates of over 20% this year.
What are the most common causes of shopping cart abandonment? Reasons include lack of alternative payment methods and concerns over shipping costs. These issues are easy to solve. Of course, some consumers are simply comparison shopping or looking for coupons and do not plan to purchase, even though items have been placed in the cart.
Offering alternative payment options is an easy way to capture more sales at check-out. Credit cards are important but certainly not the only payment method. Based on your product and target market, consider electronic checks, mobile payments, international bank transfers, and e-wallets. Promote alternative payments on the check out page as well as on homepages and product pages.
Make it easy for consumers to find out what shipping fees will be. Buyers should be able to easily discover what shipping will cost before getting to the checkout. If possible, offer free or low-cost shipping or give customers a choice of shipping options.
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