If it isn’t pulling in the expected profit, then an eCommerce store is like a leaky faucet. Money is leaking out and being wasted. Plug up the leaks by figuring out where the store is underperforming. Is your eCommerce store leaking money?
Here are a couple common places leaks occur in the industry:
Shipping
Nearly 30% of shoppers will leave due to high shipping costs or long delivery times. Improve shipping costs by:
- Work with vendors and fulfillment companies to negotiate lower shipping costs. The less one pays them, the fewer fees carry over to the customer.
Cart Abandonment
A whopping $18 billion a year is lost due to customers abandoning their carts. Customers leave for a variety of reasons, complicated checkouts, lack of security, and hidden fees. Therefore, you can reduce the abandonment rate by improving user experience.
- Promote the site’s security and safety
- Simplify checkout
- Use analytics to find the points where customers abandon the store
Our thanks to RedStagFulfillment.com for this informative infographic.
