Abandoned carts cost eCommerce companies approximately $18 billion in sales revenue annually – but you don’t have to lose out
Somebody get Cart Narcs on the horn, we got a problem.
According to Statista, 88% of all eCommerce shopping carts were abandoned in 2020. Some of the common culprits were:
- Extra fees at checkout
- Lengthy account sign-ups or clicks
- Shipping delays
- Saving products for later
People are leaving carts like they’re in a parking lot at a Target.
Amazon has implemented a number of features to address cart abandonment (like the Buy Now button), but for many sellers it continues to plague their bottom line.
There are, however, a number of strategies you can use to convert more buyers.
- Offer coupons or bundles
- Make your shipping and return terms clear
- Keep items in stock
- Offer protection plans that go beyond the A to Z guarantee
If you have a website attached to your Amazon account, you have even more work to do. As a start, you can use Amazon Pay as a trusted payment gateway.
If you are doing checkout through traditional means (which has its benefits), there are ways of mitigating potential losses (around 10% of lost revenue) with abandoned cart emails.
Roughly 45% of abandoned cart emails are opened, 21% clicked on, and 50% of those led to purchases.
Nobody wants to get a letter from their ex asking “What went wrong?”, but with those numbers, you’d better start emailing everyone that swiped left on your product.
So what can you do before you resort to playing a boombox on the front lawn of the ones who got away?
- Use retargeting ads to send 26% of customers back to your shop
- Personalize to see some massive ROI’s
- Ensure your ads are optimized for mobile browsers
- Use templates for layout inspiration
It ain’t over ‘til the fat lady sings, and with these tips she’s as svelte as ever!
