make it easy to buy now

69.57% average abandonment rate

While consumers will compare online vendors on price, the principal reason for shopping online is convenience. In most cases, online shopping is easier and more convenient than getting into the car, driving to the shop, finding a park, fighting your way through the crowd and then dealing with a shop assistant who is less than accommodating. The fact is, while consumers want to buy, most want to do so with the least possible effort.

A 2019 study found that the average shopping cart abandonment rate is 69.57%. That is, nearly two-thirds of consumers who find the site, sift through the products, consider the pricing and then place the item in the cart – do not make a purchase. The main reasons for this were:
  • High delivery costs – 50%
  • The site required the opening of an account – 28%
  • The check out process is too long – 21%
  • To total cost was not clear upfront – 18%
  • Delivery was too slow – 18%
Of the top five reasons for abandoning a cart – four of them relate to convenience and ease of purchase, and four are directly involved with ease of purchase. This highlights the importance of the distribution strategy, within the marketing strategy and making it as easy as possible to purchase. Indeed, ease of purchase is a critical component of the customer experience.

Ease of purchase is not only critical to avoiding online cart abandonment. It is also critical in the real, bricks and mortar world. If you want to maximise sales and margins, it is important to make the product as accessible as possible and as easy to purchase as possible. This might involve an omnichannel presence. It will involve eliminating the barriers to purchase including – a long distance to travel, difficulty in finding a park, difficulties navigating the store, availability of staff to assist, availability of stock, speedy delivery, and all credit cards being taken without an additional cost. Businesses need to realise that as competition increases, consumers will work less and less to make a purchase – even if they end up spending more than they might have to.

RECOMMENDATION – Embrace omnichannel marketing. Make it as easy as possible for customers to move through the purchasing journey and make a purchase at the end of the journey
D. John Carlson – +61 (0) 402 273 350

 – To be published on August 2020 – CLICK HERE 

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