Increased sales and revenue. E-commerce stores lose $2 iraq whatsapp group link 60 billion to abandoned carts every year. The direct effect of reducing cart abandonment is a reasonable increase in sales and revenue.
Increased brand loyalty. If you offer a seamless product checkout flow, you’ll not only make sales but also increase their chances of coming back for more.
Reduced marketing spending. Reducing cart abandonment will ultimately increase your user retention. This helps you direct your marketing dollars to the right channels.
How to Calculate a Cart Abandonment Rate?
The formula for calculating a cart abandonment rate is 1 minus the total number of completed checkouts divided by the total number of checkouts initiated, whether completed or not. For example, let's say you had 500 completed orders and 1,000 initiated checkouts.
(1 - (500 ÷ 1,000)) x 100
(1 - 0.5) x 100 = 50
The cart abandonment rate would be 50%.
Now, let’s address the elephant in the room — cart abandonment strategies for e-commerce apps. In the e-commerce world, your biggest competitor is not the rival brands but your shopper’s inertia in not buying your products. Here are 10 proven strategies to recover abandoned carts for ecommerce apps.
1. Optimize your product pages to show payment and shipping options
It's no secret that e-commerce app cart abandonment is directly related to unexpected shipping fees and other surcharges. Simply put, the cheaper the shipping fees, the less likely shoppers are to leave.
List the shipping options under each product, offer the best prices for your products, and make sure the total purchase cost is reasonable. You can also put up a shipping calculator on your checkout or product page for shoppers to calculate their shipping costs based on their zip code. Plus, you can offer free shipping to first-time customers, making it easy for them to complete their purchases.
We also recommend integrating only generally accepted payment options in your market base. Your goal is to make your brand sticky enough that it’s difficult to lose shoppers on a whim, even the so-called impulse buyers. Here's an illustration of Amazon displaying available shipping options on product pages: