How to recover upto 87% of lost sales from WooCommerce cart abandonment

Most WooCommerce store owners are losing sales every day… and they don’t even realize how much money their WooCommerce checkout is leaving on the table. The reason?

Cart abandonment!

The value lost to cart abandonment was estimated at around $4 trillion globally in 2019, but store owners are largely ignorant of the issue because the value of their lost carts simply isn’t that obvious to them.

If you think your WooCommerce store is an exception, guess again.

A typical store loses about 68% of its potential sales to cart abandonment – and while you’ll never recoup all of these, a solid recovery strategy can win back around 30% of them. For most stores, that means a significant amount of extra revenue.

Why are cart abandonment rates so high? What causes visitors to abandon?

Many WooCommerce store owners believe that cart abandonment is caused by customers who have just changed their minds or are time wasters… but the reality is quite different.

Usually, it’s not actually the customer that has the issue. It’s the store.

Many WooCommerce stores have a horribly broken checkout with such an unpleasant buying experience that buyers simply don’t think it’s worth the effort to get all the way through the process.

Do I really need to fix my WooCommerce checkout? Seems like a lot of effort…

Sure – this will take some time, effort and money. You could just spend that cash trying to increase traffic to your site by creating more content or spending more on PPC advertisements.

However, assuming your site is already getting some traffic, this is like pouring more water into a leaky bathtub.

Plug the holes in your bath and you need a lot less water to fill it to the top!

Reducing your cart abandonment has a massive impact on your bottom line, because you’re optimizing your conversion funnel very close to the point at which a visitor hands over their cash.

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Created on Sep 25th 2020 09:01. Viewed 346 times.

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