Already the figures have come in for the Black Friday shopping of 2016, and they were very good news for a lot of companies who have known, all too well, the damper that the recession put on shopping in years past. That day, of course, was followed shortly behind by Cyber Monday. Online shopping is obviously far more than the short-lived trend that it was once predicted to be. The movement from box store to virtual stores has been astounding, and has continued to gain ground.
If you found that your Cyber Monday sales were not as great as expected, you’ll undoubtedly be looking closely at the data collected for the day, trying to figure out why your campaigns fell short of the expectations. As you consider the facts, be sure that you are carefully considering the cart abandonment stats.
This is something that many companies overlook, but there is a lot of information to be gleaned from cart abandonment, and it is a real issue that plague many companies, even some of the greatest competitors in the online arena. However, there are actions that can be taken to reduce the number times consumers leave your website before making the order. There are also ways to draw those customers back in so that they will follow through.
But, first, you should be looking at the reason for leaving. Of course, you could issue a survey to consumers, but, in most cases, you can figure this out or, at least, make a very educated guess. Very often it comes down to price. Consumers are not tied to your store, as they were when they walked into the box stores years ago, there is nothing stopping them from seeking better pricing from competitors’ pages, which can lead to them surfing away, leaving a full cart behind. It’s not enough to consider the price of the product alone. Shipping is now a very big consideration for consumers. Many companies offer free shipping on orders over a certain price point, with a specific coupon code, or on special days. If it costs $8 to have the product shipped from your company, but they can get it at the same price with no shipping expense elsewhere, they’re very likely going to abandon the cart on your site.
Cart abandonment is not always linked to pricing. If the number of abandoned carts has recently spiked, or you have had a consistently high number of consumers leaving before finishing the checkout process, you might want to consider the performance of your site. If your website loads very slowly, the checkout process is difficult, tends to ‘time out’, or asks for a lot of excessive personal information, many consumers will walk away without buying.