Online businesses face a myriad of problems that you wouldn’t normally see in a walk-in store. One of these concerns is cart abandonment. According to a study by Baymard Institute, about 70% of online shopping carts are abandoned before the buyer completes the purchase process. This is a huge problem for business because it not only causes revenue loss but also leads to missed opportunities for repeat business.
With all the disadvantages it causes, it is imperative for businesses to find creative ways to reduce cart abandonment. In today’s article, we will discuss a few ways in which real-time shipping rates can be a game changer in reducing cart abandonment. Let’s dive in!
How Real-Time Shipping Rates Reduce Cart Abandonment
To fully understand how real time shipping rates reduce cart abandonment, it is essential to understand the key reasons the problem exists in the first place. Some of the leading reasons online buyers abandon their shopping prematurely include delays and complicated checkout. However, one of the things that most of them cite is unexpected shipping costs.
Most buyers will abort their shopping process because unexpected shipping costs can be perceived as dishonesty or a lack of transparency on the business’s end. It would often feel like a bait-and-switch tactic, and shoppers may think, “Why wasn’t I told this earlier?”
To address this problem, businesses are now adopting ecommerce shipping solutions that provide real-time shipping rates. These tools not only eliminate unexpected costs but also offer flexible shipping huoptions and enhance the checkout experience. Let’s discuss these in more detail:
Eliminates Unexpected Costs
One of the ways real-time shipping rates help reduce cart abandonment is by eliminating unexpected costs. Since the costs are calculated dynamically during checkout, the buyer will always know exactly what to expect. That builds trust and removes the question of, ‘Why wasn’t I told this earlier?’ As a result, it significantly reduces cases of cart abandonment.
Offers Flexible Shipping Options
Everyone like a little bit of flexibility when shopping, especially when it comes to shipping costs. Fixed rates for all quantities of goods can be the quickest way to scare away prospective shoppers. That’s why flexible shipping options are another important benefit of real-time rates.
As you shop online, the tools will offer you multiple shipping options. These can include economy shipping and express shipping. The former is a lower-cost option that suits budget-conscious customers, while the latter offers faster delivery for those who need the products quickly. Of course, the costs will vary slightly, but the main thing is that it ensures customers have a choice and everything is transparent. That makes it more likely that the shoppers will complete the purchase.
Enhances the Checkout Experience
Real-time shipping rates also enhance the overall checkout experience. This is made possible in various ways, but primarily due to the clear shipping costs. If the costs are clearly displayed, the customer is less likely to struggle through the purchase, which can reduce hesitation and encourage purchase completion.
Conclusion
Cart abandonment is a significant problem that many online stores face. The issue is mainly attributed to unexpected costs and complex checkout processes, among others. That said, an increasing number of online businesses are now adopting e-commerce shopping solutions with real-time shipping rates to help reduce cart abandonment. These tools are not only effective in eliminating unexpected costs but also streamline checkout processes and offer flexible shipping solutions.
