Cart Abandonment
Cart abandonment occurs when a customer adds items to their online shopping cart but leaves the site without completing the purchase.
Definition and Significance:
Cart abandonment is a common challenge in ecommerce, where customers who have shown intent to purchase by adding items to their cart leave without completing the transaction. High cart abandonment rates can indicate issues with the checkout process, pricing, or user experience.
Causes of Cart Abandonment:
Common reasons for cart abandonment include unexpected shipping costs, complicated checkout processes, lack of preferred payment options, and concerns about site security. Understanding these factors is key to reducing cart abandonment rates.
Strategies to Reduce Cart Abandonment:
To combat cart abandonment, businesses can offer free shipping, streamline the checkout process, send abandoned cart reminders, and provide clear security assurances. Reducing cart abandonment can significantly increase conversions and revenue.