Understanding Shopping Cart Abandonment Behavior for Efficient Retargeting (Part II)

Part I of our series on shopping cart abandonment behavior outlined the psychology of shoppers with no real intention to buy. This second installment looks at online visitors who are determined to buy but fail to complete their purchase.
The topic is under scrutiny, even more so now that online retail is steadily growing. While it will not take over traditional retail (as people still want the physical contact with the product or are concerned about privacy, or simply need the product immediately), eCommerce is an incredible opportunity to grow a business and a brand. Most articles emphasize the need to claim part of the $4 Trillion in lost sales due to shopping cart abandonment with retargeting tools. As we have said previously, spending on campaigns to convert shoppers is inefficient if the reasons they left are left unanswered.

Why do People Buy Online?

What and why people buy online is a good indicator to understand shopping cart abandonment behavior.
Low prices and convenience top the list, respectively with 38% and 35,1%.

It is much easier to find better prices online where you can visit stores from the comfort of your home, or with the simplicity of thumbing through pages on a mobile device.
It is convenient, especially with the possibility of multiple windows open side by side. Instant comparison between competitors in terms of assortment, price (there it is again) and services.
The world of eCommerce doesn’t sleep, stores stay open 24/7 even on holidays.

Today, consumers are used to immediate satisfaction of a need. Instant access is the core of shopping cart abandonment behavior. Throughout the process, your shopper is anxious to get it done. Yes, online shopping is great: it saves time (and trips, and gasoline).

In essence, instantaneity and convenience lead to easy shopping. A few clicks and voilà! Most sites present similar paths and icons, online shoppers recognize which is what and visual elements play a major role in facilitating the buying process. It is definitely easier than traditional shopping: browse, grab and place the items in the cart, wheel to checkout and pay (without beating crowds, waiting in line or the recurrent risk of picking the slowest register).

It would be nice to see improvement of the shopping experience to gain fresh traffic from the 30% or so of people who do not (ever?) buy online. Other than the ability to touch the product, reducing shipping costs (a major reason behind shopping cart abandonment) and simplifying the product return process are areas that can be fixed in many cases.

We can buy everything online. The web is a giant crowded mall where people never cross paths and are perfect strangers, although they display similar shopping cart abandonment behavior.

Shopping Cart Abandonment Behavior of the Motivated Buyer

Not all cart abandoners are alike; the shoppers who visited your site with a real intention to buy are the ones you can reclaim most.

Prices and convenience are the first two motivations to shop online, so prices and convenience should be your priorities: quick and friendly navigation, ease of identifying products within a category, simple visuals (a crowded page is distracting), inventory management (out-of-stock products are a big risk), shipping costs (having an upfront disclosure is highly recommended), competitive prices.

Time is of the essence. Shopping cart abandonment often happens when the checkout process is too long (there is a slowest register online, after all): offer a seamless path, clearly indicating progress so the shopper doesn’t lose patience.
Speaking of time, delivery schedule is affecting the conversion of a cart into a sale. Unlike traditional buying, your customers don’t receive instant gratification and has to wait to truly own their products, although they paid for it. Think about the compromise they make by willing to wait a few days; try and offer shipping options that can make them happy sooner.

Before you go about tracking your prospects through the web, or send not so subtle emails reminding them they left their cart in the middle of the store ( they know they did), consider they may be switching from mobile device to desktop. As it happens, unless they are returning customers and don’t need to fill in all payment information, some web users shop from their phone or tablet but like to use their computer when it’s time to part with money.

Ultimately, shopping behaviors online and offline are similar in many ways. Shoppers sometimes need a little push to complete their purchase, be it reassurance they make the right choice, or the need to feel special. Carts Guru retargeting solution offers an answer to both by creating an engaging, personal approach to their concerns. An automatic, simple and fully customizable tool that puts the retailer directly in contact with the customers via phone or text messaging. The conversion rate greatly improves when both seller and buyer interact, rather than suffer – one from not knowing what would work, the other from not getting adequate answers.

Efficient retargeting is possible when you fully grasp shopping cart abandonment behaviors, in the case of motivated shoppers or those with no real intention to buy (they were interested enough to contemplate buying).
Use your eCommerce platform resources to gauge the level of commitment of your shoppers. Present them with an experience that makes them feel unique; an experience that includes human contact on some level and can eliminate resistance in real time.

More and more awesome #SaaS #startups are cropping up in #Barcelona! Here's how @cartsguru is turning abandoned 🛒 into 💰💰💰: https://t.co/wWnFe4cKuD

There's only one way for #eCommerce businesses to combat #abandonedcarts: investing in the right #software.

We sat down with @cartsguru to talk more about their software, why SMBs can use it, and how they stand out from the competition.

https://t.co/zVNygEYq7A

Cart abandonment is still the number one challenge e-merchants face, with 68% of website visitors dropping a purchase before the finish line.

Here's 6 best practices to recover your #abandonedcarts and increase your revenue!

https://t.co/H5otKY7tou

Did you know that with our Customer Identification technology you can discover who your non-identified visitors are? 👏

Read more on our blog post! https://t.co/iAQGbIx45D

We're hiring a Social Media & Content Specialist! If you're good with words and know how to charm an audience, apply below 😉

https://t.co/1YsnuDpimj

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More and more awesome #SaaS #startups are cropping up in #Barcelona! Here's how @cartsguru is turning abandoned 🛒 into 💰💰💰: https://t.co/wWnFe4cKuD

There's only one way for #eCommerce businesses to combat #abandonedcarts: investing in the right #software.

We sat down with @cartsguru to talk more about their software, why SMBs can use it, and how they stand out from the competition.

https://t.co/zVNygEYq7A

Cart abandonment is still the number one challenge e-merchants face, with 68% of website visitors dropping a purchase before the finish line.

Here's 6 best practices to recover your #abandonedcarts and increase your revenue!

https://t.co/H5otKY7tou

Did you know that with our Customer Identification technology you can discover who your non-identified visitors are? 👏

Read more on our blog post! https://t.co/iAQGbIx45D

We're hiring a Social Media & Content Specialist! If you're good with words and know how to charm an audience, apply below 😉

https://t.co/1YsnuDpimj

Load More...