Having analyzed the ecommerce results of 2018, Explority, a Colorado-based analytical and research firm, revealed that the abandoned carts continue to carry away an incredible share of potential ecommerce revenue. The abandoned cart rate has stayed at an overwhelming average level of 70% throughout more than a decade. In 2018, the rate was above 75% across all industries, while it exceeded 80% in financial and travel sectors.
Customers keep reporting unexpectedly high extra costs of the purchase as their primary reason for quitting their online shopping sessions. At the same time, a whole bunch of tech-related reasons lead to interrupted customer journeys. Those reasons include issues with a personal account, a cumbersome checkout process, website errors and crashes, and unsatisfactory payment process.
While online retailers can hardly dispel all of their customers’ concerns about sharing their personal and payment data when accomplishing an online purchase, they still can make customer journeys trouble-free and facilitate the purchase procedure. To achieve this, ecommerce companies should not only review the technical state of their existing ecommerce platforms but also align them with today’s ecommerce best practices.
- Keeping an eye on all ecommerce channels. While customers still buy mostly via desktop websites, ecommerce companies shouldn’t write mobile apps off. Indeed, currently hardly half of customers finish their purchases on mobile devices, while the conversion rate in mobile ecommerce doesn’t reach even 2%. However, let’s not forget that Gen Z’ers are now joining the ecommerce audiences, and they are far more mobile-friendly than Baby Boomers, Gen X, and even Millennials altogether. That’s why having a sleek mobile ecommerce app is a must for every company that wants to grow their sales among the youngest shoppers. Moreover, it’s high time to make social ecommerce part of the mobile commerce strategy.
Chinese mobile e-commerce results are the most impressive to follow for the rest of the world. According to Deloitte, already in 2017, mobile payment transactions in China hit $13 trillion, compared to $50 billion in the USA. The ability of Chinese e-tailers to build up their customer journey within WeChat, the most popular social app in the region, contributed greatly to a tremendous increase in mobile purchases.
- Improving conversion rates on your key ecommerce channel. While mobile conversion rates are very modest, the web app conversions aren’t far ahead (4.02% according to Shopify). It means that companies have a vast area for improvements. In 2019, ecommerce companies should turn their attention to such must-follow trends as micro-interactions, voice search, and ecommerce chatbots, all of them seasoned with modern online store design (think minimalism, card-like layouts, and motion animation).
Whatever aspect of their ecommerce channel retailers choose to improve, they have to focus on usability and personalization to shorten the virtual distance between a customer and a product.
- Learning from the giants. With 49.1% of the overall ecommerce sales, Amazon is an unconquerable ecommerce leader in the U.S. Any e-shop that struggles with abandoned carts should explore Amazon’s retargeting ads strategy that showed up effective in turning interrupted shopping sessions into an accomplished purchase. Another ecommerce behemoth, eBay, can teach online businesses about deeply personalized abandoned cart emails and collaborative recommendations that can not only successfully close previously unfinished shopping sessions but also win customers’ loyalty.
Since every ecommerce company has its unique scenarios of abandoned carts, so should be the measures to reduce their rate. Partnering with an experienced ecommerce development provider can help ecommerce companies find the most optimal steps towards increased sales and an augmented number of returning buyers.
To help e-retailers navigate throughout various service offerings, Explority compiled a list of top 30 ecommerce development companies that have relevant knowledge and technical expertise to build personalized strategies aimed at cutting down the abandoned cart rates and making each particular ecommerce web or mobile app intuitive, well-performing, and attractive for online customers. The list ranks companies according to their ecommerce expertise, portfolio, market and geographical presence, and customer/industry experience, thus making an unbiased overview of top domain players.