In the virtual world of commerce, it can feel like a challenge to retain customers online when they lose interest in your products or services midway through shopping. It is even harder to make them complete their purchase when they change their mind right towards the end: at the checkout stage – a phenomenon known as ‘cart abandonment.’
What is Cart Abandonment?
When a customer shows interest towards the products/services being offered by a business on its e-commerce platform (typically a website) by adding the articles to their shopping cart with the intention of buying, only to leave their filled up virtual cart unpurchased right before the checkout stage, the customer is said to have ‘abandoned’ the cart. Cart abandonment is highly unpleasant for online businesses to experience, and can adversely affect their sales.
What Causes Cart Abandonment?
According to Baymard Institute, around 70% of users, on average, leave their carts abandoned at checkout after browsing through e-commerce platforms. Their survey has found out the following reasons to be the most likely, in order:
Extra Charges
Added costs, apart from the price of the article itself, like order processing charges, high shipping costs, or any hidden fee. Seeing a total figure that is a lot more than they expected when adding a certain product to their cart makes the customer hesitant to pay at checkout, pushing them to abandon their cart.
Account Creation
The requirement placed by some online shopping stores to create an account on the website in order to complete the purchase adds an extra step to the checkout process, making it undesirable for the customers. A lot of customers tend to abandon their cart at this point, when they are faced with this step.
Lengthy Process
An unnecessarily complicated checkout process, involving long forms to fill out and password requirements at multiple stages makes the experience tedious for customers. To entirely avoid the lengthy process and sometimes due to forgotten passwords, customers abandon their carts at checkout.
Security Concerns
When shopping online, a lot of customers are hesitant to share their personal data and sensitive payment information at checkout, due to doubts that it may not be stored safely. This uncertainty amongst customers prompts them to abandon their cart at the checkout stage which requires private data.
Less Payment Methods
Lack of variety available in the payment options being offered does not give shopping freedom to all customers, inhibiting some since their preferred or practiced mode of payment is unavailable.Customers are forced to abandon their card when they are unable to pay at checkout due to limited payment methods.
All these reasons significantly contribute to cart abandonment, causing a serious drop in sales and hindering the growth of businesses online.However, none of these problems are unfixable. There does, indeed, exist a fix: the 1-Click Checkout solution.
How 1-Click Checkout Can Reduce Cart Abandonment?
1-Click Checkout is a product by QisstPay that serves as a complete payment and checkout platform for e-commerce sites, promising the most fluid online shopping experience and a frictionless user journey. Here are a few features of the product that are bound to bring notable decrease in cart abandonment:
No Extra Charges
Placing an order through 1-Click Checkout does not make a customer liable to any charges for the service, keeping their total cost transparent and the same, regardless of whether they check out via 1-Click. This encourages customers to avail the speedy and secure checkout service free of cost, leading them to complete their purchase.
One-time Registration
1-ClickCheckout requires its users to sign up only once with all their information and uses the same account with pre-filled data to process further orders placed at any website offering the solution. This eliminates the nuisance of creating new accounts for shopping online at each different website. The platform also offers ‘guest checkout’ for users who do not want to sign up at all, making the requirements even more flexible.
Simple Checkout Process
The platform bypasses lengthy forms to fill at checkout by auto-storing delivery and payment data, allowing users to place an order with one click. This not only makes the checkout process more convenient for the users, giving them less reason to leave it midway through, but the swiftness of the process also leaves customers little time to change their mind about making a purchase.
Utmost Security
The product meets global security standards set by the PCI DSS and ISO, with official certification from both international organizations for conducting secure online transactions. These stamps of approval build credibility of the platform and instill satisfaction amongst users that their sensitive data will not be compromised, removing the hesitance to share payment information at checkout.
Alternate Payment Methods
1-ClickCheckout allows businesses to easily add any payment method with no code. This, in turn, offers customers to pay via multiple methods, like credit/debit cards, cryptocurrency, QisstPay’s ‘Buy Now, Pay Later’ service, and other alternative payment methods (APMs). A wider variety of payment methods not only provides customers greater ease and flexibility while paying but also gives more users purchasing power by offering the methods of payment that they are equipped to pay with.
With all these valuable features, 1-Click Checkout prompts users to complete their purchase and encourages them to not abandon their cart, bringing about a considerable increase in sales for businesses incorporating the payment and checkout platform on their e-commerce websites.
