Online shopping is a huge business. More and more consumers are using their mobile phones to browse and buy products from the comfort of their homes. With global online sales expected to rise to £167.66 trillion by 2017, businesses are coming up with innovative ideas to engage consumer interest, improve the overall shopping experience and build brand loyalty. But in spite of all these efforts, conversion rates are extremely low at only 3.48%. Also, shopping cart abandonment continues to be a real thorn in the side for many retailers. Ever wonder why? The answer may lie in their payment solutions, according to this new animated infographic from Total Processing.
Why do Shoppers Abandon their Carts?
On an average, online shoppers ditch their shopping carts at a rate of 68.63%, which means that only 31.37% of the total 4.6 million people who shopped online in 2015 ended up going through with their purchases. While unexpected shipping costs account for a quarter of the abandonment cases, 15% of shoppers say that concerns about payment security played a major role in their decision. A complicated checkout process took out another 9% of shoppers, while the need to create a user account before checkout and lack of express shipping options accounted for 22% and 4% respectively.
This means that if the online retailers had taken steps to add a simple, secure and safe payment gateway to their websites, they could have resolved the problems of nearly a million shoppers and increased their total sales immensely.
So if shopping cart abandonment is causing you constant problems, you know what to do. Upgrade your payment solutions today to include a safe and secure payment gateway that can help you expand your online business and gain control over shopping cart abandonment!
Awesome, I enjoyed the infographics. You have shared some good details.
Thanks for sharing.
Have a great day.
Hi Robin,
Glad you liked the animated infographic. Enjoy your day.
Regards, Cent
Great article.I was looking for the same information,your blog helped me.I agree with you that safety payment method helps to expand business
Hey,
Now-a-days, mass of this planet showing more interest in online shopping due to several reason – most significant is for payment method and flexibility in business. One can buy his/her needy product with good discount and deal can take place simply from home, office or playground etc. Today, government of various country also advice for online payment due to more secure in nature. In this era online business become huge hub in market and spreading leg infinite in direction of latest technology of business. Eventually, thanks for sharing your informative Inforgraphics with us.
With best wishes,
Amar kumar
Hi Amar,
Thanks for sharing your valuable thoughts and appreciate your comment and share.
Regards, Cent