Cart Abandonment Rates
Featuring
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The Impact of Cart Abandonment on Sales
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Cart Abandonment Reasons
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Cart Abandonment Solutions
The Impact of Cart Abandonment on Sales
According to various studies, the average online shopping cart abandonment rate is approx. 68%- only 3 customers out of 10 that intend to buy complete their purchase.
It is important to understand the difference between brick-and-mortar and online shopping experiences is there are a ride array of distractions online that could impede the online process. As a result, the abandonment cart rate has a big impact on sales volume.
In order to combat shopping cart abandonment, it’s important to analyze various underlying metrics surrounding the shopping experience from the moment a shopper adds a product to their cart through purchase completion.
Cart Abandonment Reasons
Predictive analytics can help your company understand and correct why customers are leaving their transactions before the purchase.
- Having to create an account (no guest checkout)
- Cost of shipping
- Time to ship/arrive
- Credit card issues
- Page load/website issues
- Poor customer service
- Lack of real-time inventory
- Return Policy
- Low original intent to purchase
Cart Abandonment Solutions
Once you understand who and when a customer is abandoning their cart, now you can do something about it. Based on the metrics, you can create effective post-abandonment marketing tactics to eventually gain the conversion.
- SMS Notifications/Reminders
- Personalized email with direct access to finish transation
- Offer optimized discounts to incentivize
- Retarget on social media
- Up-sell/cross-sell to refresh interest
In addition to marketing tactics, Dunn Solutions' can execute back-end solutions to assist with e-commerce issues:
- Guest checkout
- Real-time inventory updates/cart timers
- E-commerce software upgrades to resolve slow loading time
- Secure checkout procedures
- Live chat customer service
With Dunn Solutions, you can continue to monitor and improve cart abandonment, price optimization, market basket, and other metrics that will increase sales and profits for your organization.
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