Shopping Cart Optimization for eCommerce Web Sites

August 25, 2009

SHOPPING CART OPTIMIZATION

Guest Speaker f
k from Red Door Interactive
d
Charles Wiedenhoft, Director of Business Planning & Optimization

Shopping Cart Optimization

Introduction
 Abandonment trends
 Reducing abandonment
Reducing abandonment
 Data‐driven strategy
 Q&A

7/21/2012 ©2009 Red Door Interactive 5


Abandonment trends
70
Shopping Cart Abandonment %
-3.1%
68 Projected retail
Projected retail
66 e‐commerce sales
64 decline in 2009.
eMarketer: Retail E‐Commerce Continues
62 Slow Slide
Slow Slide
http://bit.ly/AXISR
60 Twitter: @eMarketer

58

56
Apr
p May
y Jun Jul Aug
g Sep
p Oct Nov Dec Jan Feb Mar

Current Year Previous Year

Coremetrics 2nd Annual Online Retail Holiday Optimization Guide
2nd Annual Online Retail Holiday Optimization Guide
http://bit.ly/ut9aS | @coremetrics

6
7/21/2012 ©2009 Red Door Interactive


Breaking it down
g
Reasons for Cart Abandonment $109
High shipping charges The average cost
Wanted to comparison shop of abandoned
f b d d
Lack of money
goods.
Wanted to look for a coupon
PayPal Checkout Abandonment Study
Wanted to shop offline http://bit.ly/LS50e   |  Twitter @PayPal

Couldn't find preferred pay option
p p y p

79%
Item was unavailable at checkout
Couldn't find customer support
Concerned about security of credit card data

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Retailers who
identified cart
PayPal Checkout Abandonment Study and checkout as
http://bit.ly/LS50e   |  Twitter @PayPal
a top priority.
Shop.org ‐ The State Of Retailing Online
p g g
2009: Merchandising Report
http://bit.ly/1Abr13
Twitter @shoporg



Appeal to discount shoppers
 Keep coupon hunters in
the funnel
‐ Decrease visual
prominence of the
prominence of the
promotional code field
‐ Display field dynamically
based on referring URL
‐ Offer a universal discount
and display code on all
pages
‐ Encourage email opt‐in
for immediate discount

27% Shoppers who reported leaving a cart to find a coupon.
PayPal Checkout Abandonment Study | http://bit.ly/LS50e | Twitter @PayPal



Appeal to discount shoppers
 Highlight savings from
clearance items and
instant web discounts
‐ Carry‐through symbols
and messaging from
product pages
‐ Show original and marked
down price
d i
‐ Show total amount saved
‐ Show total % savings



Avoid surprise charges
 Reveal shipping charges
R l hi i h
and tax on the shopping
cart page
‐ Offer a choice of shipping
Offer a choice of shipping
methods
‐ Auto‐select the least
expensive option
‐ Include a shipping and/or
tax calculator
‐ Simplify shipping formulas

46% Shoppers who reported leaving a cart because of high shipping charges.



Avoid surprise charges
 Reveal shipping charges
R l hi i h
before the cart
‐ Provide a perpetual
shopping cart
pp g
‐ Display shipping charges
on product detail pages



Offer alternate payment methods
 Extend credit at the
point of purchase
 Enable consumers
without credit cards to
purchase from your site

31% Estimated online dollar volume from alternate payments methods in 2012.
Javelin Strategy and Research | http://bit.ly/o76su | Twitter @JavelinStrategy



Build confidence and trust
 Show “trustmarks” with
increasing prominence
through cart and checkout
process
‐ Call number and live chat
‐ Security badges
‐ Guarantees and policies
Guarantees and policies
‐ Awards and endorsements
‐ Customer testimonials
‐ Company culture and value
C lt d l

 Answer common
questions
21% Shoppers who reported leaving a cart because of security concerns.



Show clear path to completion
 Encourage shoppers to
take action
‐ Tell shoppers what to do
with inductive messaging
with inductive messaging
‐ Show how many steps are
in the checkout process
‐ Differentiate primary and
secondary actions
‐ Remove actions with
potential to cause
irrecoverable errors



Data-driven strategy
 Benchmark and monitor KPIs
‐ Cart and order sessions
42%
Online retailers
Online retailers
‐ Average order value (AOV)
who know their
‐ Visitor engagement shopping cart
 Isolate problem areas abandonment
‐ Shopping cart page exit links rates exactly.
l
MarketingSherpa
‐ Form field abandonment 2009 Ecommerce Benchmark Report
http://bit.ly/E4I7L
Twitter @MarketingSherpa
‐ Checkout funnel retention
 Expand focus
‐ Attitudinal and competitive data analysis
‐ / g
A/B and multivariate testing



Questions
Q ti



Don’t Miss Our Next Webinar!
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Developer & Strategist
 Tuesday, September 22
 http://reddoorbuzz.com/20twenty/

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Shopping Cart Optimization for eCommerce Web Sites

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