How important is checkout experience in eCommerce?
The eCommerce industry is constantly evolving and adapting to new technologies and innovations. With business being as competitive as it is, if you’re not offering the best customer experience, your buyers will shop elsewhere, and you’ll quickly be left behind in the dust. An essential component of great eCommerce customer experience is a smooth checkout process.
Today’s world is fast-paced, and efficiency is the name of the game. No one has the time or patience to wait around for a slow-moving website or fill in several forms simply to buy a tube of lipstick. A complex checkout process can be a factor in cart abandonment, which can affect the income of your business. Here, we explain why it’s so vital to have a smooth checkout process in eCommerce.
What is cart abandonment?
Cart abandonment is the term used to describe when a customer adds items to their basket but leaves the site or app without making a purchase. You can calculate your brand’s cart abandonment rate by dividing the total number of completed purchases by the total number of opened carts.
It’s important to monitor your cart abandonment rates and take steps to reduce them, as each time a customer abandons their cart, they represent lost income to your business. This is because you’ve already expended a certain amount on marketing, operations, and development to get them to visit your site and add products to their basket.
Why do customers abandon their cart
Customers may abandon their cart if they find the checkout process is inconvenient or time-consuming. For example, if they have to create an account to make a purchase. In today’s fast-paced world, consumers want a quick, efficient service, so a long-winded checkout process could be why your cart abandonment rate is high.
If you don’t offer a range of payment options, you may find your cart abandonment rate increases. Customers expect to be able to pay with whatever card or app they have to hand, so if you don’t take credit cards or aren’t offering PayPal payments, you could be losing out.
Unexpected costs and charges are another common reason for cart abandonment rates to rise. Transaction fees and delivery costs quickly add up and when a customer realises the amount, they’re expected to pay is higher than they thought, they often jump ship. Removing additional fees or offering free delivery could prevent this.
How to reduce cart abandonment within your eCommerce site
Allowing customers to checkout as a guest, rather than forcing them to create an account could reduce the chance of cart abandonment. Guest checkout is much more convenient for your customers and offering it may make them more likely to make a purchase now and in the future.
Offering a range of payment options can be another way to improve cart abandonment rates and making it easy for customers to complete their transaction will make it more likely that they’ll do so. Provide payment options for credit/debit cards, as well as PayPal. E-wallets and buy now, pay later suppliers such as Klarna have become increasingly popular, so don’t forget to include those too.
It’s common knowledge that people are just as likely to shop online via a Smartphone than from a PC, so it’s vital to ensure your website is mobile friendly and optimised for mobile use. This optimisation must also be applied to the checkout process. It may be worth getting in touch with an agency specialising in eCommerce solutions for support with the technical aspects.