Shopping cart abandonment is an issue around the globe. Read this article to know how you can reduce the cart abandonment rate at your shop. Discover the best merchant account providers UK.
UK eCommerce: Merchant Account Providers UK
Did you know that total sales are forecast to reach €230.6bn (£202bn) in Western Europe in 2018? Based on a new Barclays study, UK retailers lose £3.5bn per year if they fail to complete purchases.
MetaPack, a leading Delivery Management Software provider, held a survey in 2017. 50% of shoppers surveyed responded they’d abandoned online shopping carts due to the unsatisfactory delivery choices or because their needs hadn’t been met.
According to the study, on average, UK shoppers spend nearly 90 minutes weekly browsing the Internet. 89% save products in their wish lists and baskets. Brits’ abandonment of online basket is worth about £30 a month, which potentially results in over £18 billion of lost sales annually.
By the way, shoppers feel more uncertain when making purchases online. 41% say they abandoned a transaction at a virtual check-out in 2017 compared to 24% in-store. With all this in mind, it’s critical to work only with a reputable payment expert that can help you with merchant account providers UK.
Turn to a respectable comparison company that offers free consultation, reviews of contracts rates and fees. Also, make sure the company provides you with the most honest snapshot of the merchant services providers at the time of writing.
How to Reduce Abandoned Carts
Shopping cart abandonment is an issue that merchants should tackle successfully. Well, how can you, as a retailer or merchant, do this? Just make sure to focus on the following points and you’ll reach success:
- Consumers Are Looking for a Seamless Experience
Use technologies that can unify digital communications and the latest content-management systems (CMSs). This way, you can guarantee consistent interactions and optimise experiences at every touchpoint.
- Convenience Is Everything
Provide simplified user experience, especially for millennials: they have limited attention and are technologically savvy. Create a user-friendly interface.
- Consumers Need Speed
Slow sites are killers of enthusiasm. With a slow-loading website, you’ll go nowhere. 53% of mobile users will leave your site if it takes over 3 seconds to load.
Streamlined Shopping Is Too Important
Optimise the shopping experience to boost the chances of sales. Barclays reports that UK retailers are expected to generate £10.5bn within the upcoming 5 years thanks to refined online purchasing systems. Customers need a simple, tailored, and fast shopping experience. Digital retail must be joined up and enjoyable.
- Selling Directly to Consumers Is Becoming a Mainstream
Manufacturers are more and more often selling directly to consumers. You can’t ignore wholesalers selling directly via the Internet.
- Consumer Demands Are Growing and Changing
Based on MetaPack’s 2017 consumer research, 54% of shoppers want their items to be delivered within 1 hour in metropolitan areas. 15% want to be able to reschedule deliveries. Convenience over cost is becoming a priority for more and more consumers. 35% of online shoppers are happy to pay to get items delivered when and where they want.
- Omni-Channel to Omni-Experience
Put your efforts into creating a shop that integrates in-store technology, mobile, cloud, analytics, and social media. This is how you can increase customer engagement. You can’t be slow in predicting and responding to the next trend.
Online shopping has become integral to people’s daily lives all over the world. Paying a proper attention to the delivery management in your digital store strategies and reducing cart abandonment rate is crucial.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry and merchant account providers UK has helped thousands of business owners save money and time.