Selling online comes with steep competition; if your prices or shipping costs are two high, consumers might move on to another online retailer. Likewise, if you don’t display all costs upfront, like shipping and sales tax, consumers might abandon their carts and search for a better deal on a competitor’s site. Shopping online gives the end user a great deal of control and makes it easy for them to shop around to find the best deals. With that said, don’t get beat out by your competition. One way you can ensure users will convert into a sale on your web store is to provide them with an enjoyable checkout experience. Voucher Cloud created an infographic that provides some insight on what consumers like and don’t like about this key element of eCommerce.
To start, the common reasons consumers abandon carts are as follows:
- Forty-one percent abandoned their cart due to hidden charges once reaching checkout
- Twenty-nine percent left an online retail site that required them to register before making a purchase
- Eleven percent didn’t make a purchase due to unclear delivery details
- Ten percent bailed on a purchase due to a lengthy checkout process
- Eight percent were turned away because a phone number was not provided on the website
There are other elements that play a role in abandoned shopping carts at checkout as well. One reason is a slow site load time. Fifty-seven percent of consumers will abandon their shopping cart after waiting just three seconds. Further, of those consumers, 80 percent said they would never return to that site again all due to slow page loading.
Shipping costs play a big role as well. When it comes to making a purchase decision, 59 percent of consumers are influenced by shipping rates, with 53 percent saying a less expensive shipping rate is reason enough to buy from another online retailer.
Multiple payment options are also important in order to provide a successful eCommerce checkout page. Fifty-nine percent of consumers will not make a purchase if their preferred method of payment is unavailable. Additionally, 80 percent of consumers feel more secure when a web store displays trustworthy card logos clearly on the site, like Visa or MasterCard.
Adhering to these key elements will help ensure consumers that visit your web store convert into a sale, or, even better, become a loyal customer. If your checkout page needs a solution that can deliver these key elements, contact k-eCommerce today and ask about our one page and / or guest checkout.
Here is the complete infographic:
Thanks to vouchercloud for this Consumer Psychology and the eCommerce Checkout infographic.