When a potential consumer begins the checkout process for an online order but abandons it before completing the transaction, it is known as shopping cart abandonment. Any item that a shopper adds to their shopping basket but never completes the transaction is labelled “abandoned”. Abandoned Cart is a critical component of the online shopping experience that companies monitor closely.
Reasons for Cart Abandonment
- Insufficient cash resources in the short term.
- There are numerous distractions.
- A lengthy procedure.
- Prices are astronomically high.
- Shipping charges.
- The payment procedure hasn’t been completed yet.
- Credibility issues with brands.
What happens if a customer abandons their shopping cart? And how to tackle it?
They either return to your store at a later date to purchase the merchandise, or they just go to a competitor to purchase the identical product. In such instances, make proactive contact with customers. Ask them a few questions to learn about the obstacles they encountered and why they left your store. This will provide you with the information you need to correct the problem and prevent additional consumers from abandoning their shopping carts.
What is WooCommerce cart abandonment recovery?
It’s the practice of contacting your consumers and reminding them of the items they left behind at your store. You’ll urge them to return to their cart and finish the checkout procedure this way. This is a huge chance for you to make up for lost sales. According to studies, the cost of retrieving an abandoned cart is far lower than the cost of gaining a new consumer. This is mostly due to the fact that the consumer is already aware of the situation, and you are aware of the customer’s needs and may provide personalized offers to persuade them to purchase from you.
Abandoned Cart Plugin Features
- Recover orders that have been abandoned.
- Set a deadline beyond which the order will be considered cancelled.
- After a specific amount of time has passed, the abandoned orders will be removed.
- Automatically send recovery emails to the customer.
- View a list of all orders that have been cancelled.
- Set up a recovery email to be sent out if specific conditions are met.
- Create your own email templates.
- Customers can opt out of receiving the recovery email.
- Emailing discount coupons.
- Examine your email logs.
- Examine the order reports.
- $79 for a single site
- $119 for up to 5 sites
- $199 for up to 25 sites
Benefits of Abandoned Cart Recovery
When a consumer adds a product to their cart on your WooCommerce site, you want them to buy it right away. Unfortunately, this isn’t always true. Customers may add items to their baskets and then leave your site, leaving unfinished orders for days, weeks, or even months.
The concept of abandoned cart recovery comes into play at this point. This technique reminds customers of things they’ve forgotten about and encourages them to come back to your store and finish their purchases.
Offer to ship for free or at a discounted charge
The most prevalent reason for online shoppers abandoning their carts at checkout is the expense of shipping. If your profit margins allow it, with this plugin you can provide free or low-cost shipping.
Push Notifications to Shoppers
Push notifications can be set up, adding another useful element to your cart recovery toolbox. You have a one-of-a-kind opportunity to engage your customers at a vital point in their purchasing trips because the notifications are supplied in real time.
Emails sent to customers with Abandoned Carts
Potential consumers who have added items to their shopping carts but have not finished the checkout process will get these emails.
Remove abandoned orders after that time period has passed
Establish a deadline after which an order shall be considered abandoned. This time will be computed from the time the consumer added the products to the cart, and the cart will be considered abandoned if there is no action on both the cart and checkout pages for the set time period. To avoid email spamming, you can remove an order from the abandoned orders list after a specific length of time has passed.
View a list of all orders that have been abandoned
View a complete list of all abandoned orders with the cart ID, user’s name, email address, date and time, total price, products in cart, recorded time, and emails sent to the customer.
Set up recovery emails to be sent when certain conditions are met
Send recovery emails based on user roles, total amount, number of goods, and product ID, among other criteria. Add numerous conditions and set them to send emails if all or any of the circumstances on the list are met.
Now moving on….
Drawbacks of Abandoned Carts
Shopping cart abandonment is one of the most common problems that online merchants confront nowadays. Despite the fact that billions of dollars are spent on digital ads each year to bring people to e-commerce websites, the average conversion rate is a dismal 2%. This further demonstrates that the majority of shoppers who enter a business do not finish the checkout procedure and instead choose to leave empty-handed.
The shopping cart abandonment rate is 88 percent, according to the Baymard Institute, which means that 8 out of 10 potential buyers abandoned their shopping carts.
Shopping cart abandonment has a significant impact on a company’s turnover. According to a Forrester survey, e-commerce firms lose a stunning $18 billion in revenue each year due to shopping cart abandonment.
Cart abandonment is an issue that must be addressed in the eCommerce industry. By altering different sections of your WooCommerce site, you can irradiate abandoned carts to improve conversions. Your payment and delivery options, as well as your checkout procedure, might all have an impact. Reminding customers via email is a tried-and-true method for recovering some of the customers who abandoned an unfinished order on your site.
With a single site costing $79, the ELEX Abandoned Cart plugin is one of the best out there in terms of functionality, versatility, and affordability.