For commerce merchants, this piece of information happens to be a profound news worthy of much insight into check out and online sales practices. Nearly $4 billion of merchandise will have been abandoned in online shopping carts in 2015. Thus, shopping cart abandonment is not a unique factor glitching a single eCommerce site, but the entire ecommerce industry on the whole. The average rate for cart abandonment in 2015 is 68%.
Thereby two-thirds of the time, online shoppers fill in their basket full of shopping goods only to abandon them at the checkout stage. Hence, something motivates the shoppers to buy, but something halts the purchasing process. However, the better part of the story is that nearly 63% of which is potentially recoverable.
Why Shopping Cart Abandonment Tracking is Important
It is critical to understand why tracking shopping cart abandonment is very important. This is because as an ecommerce merchant, you need to encourage meaningful conversions. Moreover, if the shopping cart abandonment rate is too high, you need to have post-abandonment strategies in place. However, you will still need to know why customers are not converting before you re-target them for abandoning their shopping carts.
For this reason, you will need to track checkout abandonment in Google Analytics, so that as an ecommerce merchant you can pinpoint the checkout process where customers are abandoning their orders. It can be really painful but only after you identify these stages, you can take action to recover abandoned shopping carts and provide a seamless checkout process.
Using Goal Creation And Funnel Setup Within Google Analytics
The process of tracking a sales process as well as any abandonment thereafter, depends upon two methods viz. goal creation and funnel setup by eCommerce internet marketing. Once you have setup the goal and funnel in Analytics following the standard process, you will need to track your goals over a number of days or weeks. This actually depends upon your sales volume. Actually, the funnel visualization option will provide more insight to you about which sales process will provide the most friction in the sales process that is hindering conversions.
The next step is to create a more seamless check out and build a better shopping experience for customers that reduces factors such as abandonment. This could include anything as simple as changing the color or something more complex such as redesigning the entire checkout page and associated forms.
You will therefore need to be vigilant in understanding and tracking conversion metrics as well as optimizing your ecommerce website. Thus, as a competitive and leading ecommerce merchant, you not only need to be competitive, but reactive as well in defining the various strategies to reduce shopping cart abandonment when it comes to your web store.
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Minal Joshi is a content marketer at Krish with a flair for eCommerce and Digital Commerce aspects. She is a MarTech fanatic with a knack of writing with which, she helps brands to curate, create, & commence digital brand positioning. Sharing insights via articles, case studies, eBooks, Infographics, and other forms of content creation is what she lives for. Being an ardent traveler, when not writing, you'll find her sipping coffee into the mountains or petting a stray.
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