Seven out of ten users that come to your Magento 2 store don’t complete the purchase leaving the cart abandoned. That is the reality.
Then we thought whether there was some way to keep users in store converting them into customers. The things we tried and that worked we’ve described below.
How much you lose because of abandoned carts
Before we will make some calculations, let’s take a look at the general situation in e-commerce. What percent of abandoned carts is normal?
According to Statista, 69,57% of online carts were left without purchasing in 2019. By the way, this number is stable for 5 years already: How much is this? Let’s take the example. Say, you have a Magento 2 store, you get 10 orders a week, with an average check in $40. So you earn at least $400 a week. Now we’ll calculate what revenue you can have if all the users who visit a cart page will place an order. We know that 10 orders are only 30% of your potential income, according to the statistics. The total number will be 33 orders a week. And they will bring you $1320, which is 3 times more than now. Just multiply this figure by the number of weeks in a year, and you will get almost $50 000 of lost profit.
Everyone understands this is a hypothesis because it’s impossible to achieve 0% of cart abandonment. But just keep this ideal number in mind.
Now you can make the same calculation for own Magento 2 store and see how much of the lost profit you have.
Why your customers leave the store
To get the real growth you need to find and eliminate the main reason for cart abandonment. Perhaps you already have an idea of what the problem could be. But knowledge of branch statistics will bring you the confidence in this question.
Baymard Institute reports that the main reason for cart leaving is “I was just browsing / not ready to buy”. But i if we cust the percent of users who aren’t ready, you can see the following statistic: Looking at this graph from the abandoned cart report you may meet your case. Fortunately, to find a solution to each problem from the list is quite simple. Below we offer some ideas for better conversion optimization of your Magento 2 store:
- Enable one-step checkout without obligatory logging in or add the opportunity of a quick login via social networks.
- Make clear all the extra costs and fees such as shipping, taxes, etc.
- Minimize delivery costs or even enable free shipping for your customers under certain conditions.
- Keep the cart notable with AJAX shopping cart and show the total price with every click on the Add to cart button.
- Add safe payment options to your Magento 2 and 3D Secure support.
- Add cash on delivery as a payment method to your store.
In other words, you should provide your customers with a clear and convenient checkout that won’t bring any unpleasant surprises.
Abandoned cart add-ons by Amasty
If you want to motivate abandoners on the purchase, try our Abandoned Cart Email for Magento 2. This extension allows you to send special promotions for those users who have abandoned carts automatically. It has pre-made templates that you can customize and a built-in coupon generator. Here is an example of an email that you can create:
You can customize fonts, colors, add different variables to the pre-made template including coupon codes. You can set the schedule of your email dispatch to automation the process.
Also, you can track your results in Google Analytics on the statistic page to make data-driven decisions. Check the Magento cart abandonment rate, recovered revenue, the number of orders placed from the emails and total efficiency of your emails:
This module provides you with the opportunity to return up to 90% of abandoners and convert them into purchases. Stop losing your profit, try Abandoned Cart Email!
For better results, we recommend you use Abandoned Cart Email together with Exit Intent Popup. According to eCommerceMILO, exit pop-ups can help you convert 10% of abandoned carts into completed orders. This module shows users a catchy popup with subscription possibility when they intend to leave your store: You can customize the popup content any way you wish: offer your abandoner something they won’t refuse. Set up automatic email dispatch involving users into purchasing without wasting your time. But not only the content is customizable, but also the visisbility:
Exit Intent Popup helps you retain users’ attention and increase sales. Start using this plugin and reduce abandoned carts rate!
That’s all for today.
Share your thoughts about solving this problem in the comments below! We will be glad to make an experience exchange.