What is cart abandonment and how can you reduce it?
Cart abandonment is a common issue today for online sellers. Know what it is, why people leave products in their cart and don’t buy, and what can you do to reduce the number of abandoned carts for your product and bring more sales.
Many a time you may find that people are visiting your product page on Amazon.in, they liked it, selected the desired variant, added it to their cart... And that’s it. That’s where they stop. They do not buy the product. This seems confusing. Why do people not buy a product if they like it and have added to their cart?
This phenomenon of leaving products in the cart and not buying it is called cart abandonment. With the increasing number of eCommerce platforms and options, it is becoming a common phenomenon. And there can be several reasons for that. Let’s look at them.
Why do people leave products in their cart?
- Higher price
No one wants to buy a product at a higher cost when they can buy the same product cheaper. People add the product in the cart and then compare the price among different sellers and if your product is selling at a higher margin then they won’t buy it from you.
- No deals
The online market is a pool of attractive deals and offers. People will go to sellers who offer coupons or discounts. It may be possible that they liked your product, added it to the cart, and then happened to find another seller who is offering a great deal. So naturally, they’ll abandon your product to buy a product with an offer.
- Delivery & Shipping cost
Everybody wants free and fast shipping today. If your product includes shipping cost and is also taking longer to be delivered, it can be a big NO for buyers and they’ll shift to a faster service providing seller.
- Return policy
In case the buyer doesn’t like your product for any reason, they’d want to know if they can return or exchange it. If you do not have an adequate return policy, they’ll choose someone else’s product with an easy return procedure.
- Casual surfing
Nowadays it has become a habit for people to casually surf the eCommerce website for various products with no intention of buying. If they like anything, they’ll simply add it to their cart and forget about it.
Although all these reasons sound critical, you can easily handle them and turn the situations in your favour by implementing a few solutions. Let’s see how.
How to tackle the cart abandonment problem?
Automate your pricing
With the competition soaring up everywhere, you need to provide a reasonable price to buyers while still making a good profit. So how to stay ahead of the competition? Amazon’s Automate Pricing tool
helps you with that. Once activated, it changes your product pricing frequently depending on the competitive price to help make your price the lowest to land you more sales and increase your chances of winning the Buy Box.
Everybody likes coupons and discounts to buy the product they want. That’s why some people add it to the cart and then wait for the deals
. To convert these sales, add different kinds of offers like Buy 1 Get 1, discounted price, coupons
, lightning deals, free shipping, etc. and get more sales.
Free shipping & faster delivery
Free shipping has become a norm today. Not offering a free shipping service can have a major impact on your business. Also, today most of the customers are Prime members and they look mostly for Prime products with unlimited free shipping. So join FBA
(Fulfillment by Amazon) to start offering faster, safer, and free shipping to your customers.
Offer easy return policy
In case your product doesn’t match their expectation and they want to return it, you should have a simple return process. The return date and conditions should be clearly mentioned in the product description, so they know on what grounds can they avail that service. Having a return policy always works for better as it provides a safer option to try your product.
Offer limited-time deal
A great way to attract casual customers who just like to add products in their cart with no buying intention is to offer a limited-time period deal.
Example: Buy this product within 1 hour to get a 10% discount.
These kind of attractive offers will make them think “I already liked it, might as well buy it since I’m getting such a good offer.” And there! You made your sales. This tactic gives them the little push needed to click the Buy Now button.
Though cart abandonment is a concerning issue, you can reduce the number of your product abandonments by implementing these easy and effective solutions into your products and services. If you’re looking to start a business or start online selling, join Amazon.in
today to leverage these services and make profits right away.