The article cites that the cart abandonment rate is as high as 70% on average.
With customers dropping off at the checkout stage, simplifying and streamlining the checkout experience must be prioritised by marketers. Avoid limiting this to just the checkout section as the user experience across the site must be crafted in a way to enable greater conversions.
However, if cart abandonment remains, follow up with banners or pop-ups or even offer discounts or free shipping, as relevant, to incentivise customers to complete the transaction. Pricing models, especially in cases of subscription models, must be presented in a way that it doesn't throw up any hidden charges at checkout.
Businesses can deploy live chat widgets or chatbots to answer any pre-purchase queries shoppers may have. The article cites that answering queries in real time could prop revenue up by 25%.
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[10 minute read]