While an online business can operate without the high expenditure of a physical shop space, expense will escalate elsewhere. In order to build a strong online presence and to find success within the competitive online market, an e-commerce business must tackle the task of establishing regular website traffic as well as converting website visitors into actual paying customers. This is of course after the business foundations such as brand identity and product ranges are firmly established.
Causes Of Shopping Cart Abandonment
Consumers are accustom to shopping online, it is now a popular way in which to trade due to its convenience – it also allows the consumer to directly compare the price points of products before making a purchase and of course consider reviews from others. As consumers increasingly spend online, they have also increased their expectations of what they demand from a website. If there is something amiss, be it vital information, slow loading pages, high shipping fees, or poor reviews, they will find a competitor within seconds. No matter how strong a product range is, if the website represents the products and brand poorly, it is set for failure.
Vouchercloud have produced this infographic to outline just how consumers respond when they navigate through the checkout process of an E-commerce site. A staggering 67.4% of consumers will abandon their cart which indicates that the majority or online businesses are getting it wrong and losing vital sales. Consumers expect ease of use, speed and convenience from their online retailers, just as this infographic outlines: