Cart Conversion 101 for Ecommerce Brands
Shopping cart conversion rate is one of the most important ecommerce metrics. When you know how many customers fill a cart vs. how many actually checkout, you can use this data to boost sales. You’ll also see how many people abandon their carts.
Cart abandonment happens for many reasons. Think about the last time you filled a cart and decided not to buy. It could be unexpected shipping costs or long delivery times, to finding a better price and/or experience elsewhere.
Fortunately, there are a number of simple ways to improve cart abandonment and boost conversion rates. Here are three tips to help you close more deals.
Tip 1: Eliminate friction at checkout
Many ecommerce brands make the mistake of complicating their checkout experience. How many times have you realized you need to create an account or get shipping cost shock all on the checkout page?
Eliminate friction by making shipping costs and delivery times clear before the checkout screen. A shipping calculator for example can eliminate the element of surprise.
And if you want customers to sign up, make the request seamless. Prompt users to save their information as an account after they’ve already completed their purchase. They’ll be in a better state of mind to sign up and tracking their package after a purchase could be further positive incentive.
Tip 2: Add a carbon neutral checkout option
Sustainability is becoming increasingly important to consumers with 70% of millennials saying a company’s environmental stance influences their purchases. The EcoCart ecommerce plugin helps stores offset the carbon footprint of shipping by offering a “make my order carbon neutral” option at checkout.
EcoCart utilizes a proprietary algorithm to determine the amount of carbon any order will emit. EcoCart then donates that amount to third-party verified carbon offsetting projects. Businesses can absorb this cost or provide an option for customers at checkout to donate to the cause – typically 1-2% of their order.
You might be surprised that after adding EcoCart, nutrition brand Nuzest saw a 22% lift in cart conversion, with 15% of all orders shipping carbon neutral, while Made-in-the-USA apparel brand Tribe Kelley saw a 19% increase in cart conversion rates.
Tip 3: Allow customers to buy now, pay later
Online stores that sell pricier items like furniture and luxury goods tend to see lower cart conversion rates. Same goes with stores with high average order values. Consumers simply spend more time contemplating big purchases.
Adding a buy now, pay later (BNPL) option will help capture customers who are more price sensitive. But remember, it’s important to consider which BNPL provider to partner with because a poor choice could increase checkout friction and hurt cart conversion.
With Zip, there are no hidden fees or interest for customers like there are with credit cards. Unlike traditional payment methods, the approval process is instant and doesn’t require a credit check. And with the Zip app, customers get a transparent, real-time view of every purchase made. By adding Zip’s BNPL to your store, you’ll remove price as a barrier, boost cart conversion, increase sales and reach more customers.
No matter how you choose to go about improving your cart conversion and abandonment rates, by taking a few simple steps such as a carbon neutral checkout or BNPL, you’ll deliver a positive experience and keep customers coming back.