[Infographic] Is Your eCommerce Store Leaking Money?

Is Your eCommerce Store Leaking Money -315If 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.
Is your ecommerce store leaking money

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About Mike Gingerich

Author: Mike Gingerich, TabSite Co-Founder. Facebook and Social Marketer. Part geek, part marketer, total social media junkie. Mike is a writer and speaker, having presented at Social Media Week Lima, Social Media Camp (Canada) and more. He is a regular contributor to Social Media Examiner and Business2Community. Mike is a marketing, social media, and internet enthusiast with 10+ years experience building apps, consulting, and training businesses with winning integrated web and Social Media Strategies. Mike loves deploying tactics to increase awareness, sales, and maximize ROI in both B2B and B2C markets via digital media.