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Ugh, look at those shipping costs. I’m not paying for this.
According to Statista, 88.05% of online orders were abandoned around the world last year. That’s a lot of missed opportunities.
Shopping cart abandonment is inevitable, but it can be reduced. Some of the reasons American shoppers abandon carts include:
- Navigate without ever intending to buy. Automotive websites have a massive abandonment rate of 96.88%, with travel websites not far behind.
- High shipping costs or estimated long shipping times.
- Faulty payment portals where customers have to re-enter their card or shipping information.
- Lack of confidence or concern about credit card fraud.
Another thing to keep in mind in B2B manufacturing is that many of your website visitors can be procurement professionals. Their job is usually to research at least three quotes or estimates before making a purchase. Rather than intending to buy, they can simply tick a box as part of their process.
5 Ways Manufacturers Can Reduce Shopping Cart Abandonment
Manufacturers can try to reduce shopping cart abandonment by gradually changing their payment portal, but if they are going to make a real difference, a major challenge will be faced: reducing costs and shipping times.
Here are five ways to reduce shopping cart abandonment in manufacturing:
Perform an end-to-end review of shipping costs and times. Identify improvement strategies, including change of logistics providers.
- Make sure your payment process is bug free. Customers who are asked to reenter their credit card or shipping information may lose patience and abandon their cart.
- Allow guest check-in. Many online shoppers are uncomfortable signing up and logging in every time they want to make a purchase.
- Keep the checkout process as easy as possible. Reduce steps to the bare minimum required.
- Make sure there are no price shocks or unexpected extra charges at checkout.
- Make sure your customers are confident that your website is protected against credit card fraud. Display trusted third-party security logos.
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