What’s the secret to a successful E-commerce business? Is it design; usability; or loading time? Or is it something else, something harder to define?
Most E-commerce businesses will question this regularly in a bid to improve sales and boost business. However, they tend to focus on their product ranges, content and the general design of their website in order to make improvements in the hope that their updates will boost profits.
Research tells us however, that the checkout is the stage of sale which can lead to a heavy decline in interest. The average checkout cart abandonment rate is 67.4%. A vast majority of E-commerce businesses are failing to engage customers within the checkout process, leading to lost sales. If customers are enticed enough to add a product to their cart and view their basket, surely they must be tempted to make a purchase?
As more of us indulge in online shopping and with figures set to rise, there is a potential for large profit margins if E-commerce businesses identify and provide consumers with what they expect during an online transaction.
Vouchercloud has put together this new infographic to highlight some of the key aspects which contribute to checkout abandonment in a bid to help online businesses understand the psychology of the online shopper.