As an e-commerce store owner, you’re probably aware of the challenge that shopping cart abandonment poses to your business. According to the reputable Baynard Institute, the average shopping cart abandonment rate for e-commerce stores stands at a staggering 68.63% as of January 2016. This means that a whopping 7 out of 10 people leave your site after committing to the purchase process. This alarming statistic begs the question: What can be done to prevent potential customers from abandoning their carts, and how can you increase your chances of converting these visitors into paying customers?
One of the primary reasons for cart abandonment, accounting for 28% of cases among US online shoppers, is the reluctance to register or create an account just to make a purchase. Customers have become increasingly wary of divulging personal information or creating yet another username and password combination for every online store they visit. As a savvy e-commerce entrepreneur, recognizing and addressing this concern can make a substantial difference in your conversion rates.
The solution lies in offering a Guest Checkout experience on your store. By removing the mandatory account creation step from the checkout login page, you allow customers to complete their purchases without the need for an account. ASOS, a prominent online fashion retailer, serves as a perfect example of the positive impact of this approach. After eliminating the account creation requirement during the checkout process, ASOS experienced an astounding 50% reduction in cart abandonment. This real-world success story illustrates the effectiveness of implementing a Guest Checkout option.
In fact, when examining the top e-commerce sites with the best checkout experiences, an overwhelming majority of them, specifically 10 out of 11, offer a guest checkout option. This data strongly suggests that successful businesses understand the significance of providing this convenient feature to their customers.
To ensure a seamless Guest Checkout experience, there are a couple of crucial considerations. Firstly, the same email address should be allowed to work with multiple guest checkouts. This approach facilitates repeat purchases from the same customer without the hassle of account registration. Enabling a one-click purchase process for returning customers can significantly improve customer retention and loyalty.
Furthermore, you should still offer account creation as an option but do so after the checkout process is complete. On the Thank You page or through a post-purchase email, invite customers to create an account for added benefits like personalized recommendations, faster checkout in the future, and order tracking.
By implementing Guest Checkout and optimizing your checkout process accordingly, you demonstrate that you value your customers’ time and privacy. Consequently, potential buyers are more likely to trust your e-commerce store and proceed with their purchases, knowing they have the freedom to do so without unnecessary hurdles.
If you aren’t already offering a Guest Checkout option, the data presented here should be convincing enough to make you seriously consider its implementation. A smoother, hassle-free checkout process can make a significant impact on your e-commerce store’s bottom line and customer satisfaction. By reducing shopping cart abandonment rates and enhancing the overall user experience, you can pave the way for increased conversions and long-term success in the competitive world of online retail.