How Magento 2 Checkout Can Reduce E-Commerce Cart Abandonment
Shopping cart abandonment is one of the biggest challenges for e-commerce sellers. According to a study conducted by the Baymard Institute, almost 67% of shopping carts end up abandoned online. The site visitors add browse through the online store, add products to the cart, yet fail to complete the transaction due to one reason or the other. Online sellers need to take the issue seriously as abandoned carts translate into lost sales and even, lost reputation for the store.
When it comes to shopping cart abandonment, a compromised user experience emerges as the main culprit. Primarily, the user experience is associated with the checkout process. A potential buyer is most likely to leave the store without completing the transaction in the following cases:
- The checkout process is too long and/or complicated
- The buyer does not get enough options for shipping and payments
- There is compulsion of registering with the website
These conditions discourage the buyer from buying the products and this usually leads to cart abandonment. A simple, short, and secure checkout process ensures a higher conversion rate and fewer cart abandonments for the store. Those running their e-commerce stores on Magento have the option of Magento 2 migration to improve the checkout experience. The switch offers a number of improvements including the one that promises to improve the checkout experience for the buyers.
Here is how Magento 2 Checkout can reduce the cart abandonment rate for a Magento store:
Fewer Steps In Checkout Process
The main reason why Magento 2 scores over its predecessor, is that its checkout process is much shorter. As compared to a six-step checkout in Magento 1, there are only two in Magento 2. the potential buyers are made to fill fewer fields and forms. This reduces their frustration and increases the likelihood of completion of the transaction.
Automated Guest Checkout
With Magento 2 migration, the guest checkout process is simplified. Those who have shopped via Guest Checkout can save the account information on the order success page. The buyers have to enter their email address and the information related to their account will be automatically retrieved if they are return customers. Thus, tracking of orders become easier with guest checkouts.
As compared to Magento 1, the checkout page of Magento 2 has a simplified layout. The former is cluttered with a number of links which are likely to overwhelm the customer and they may end up abandoning their shopping carts. On the other hand, the latter offers a simpler interface, with only the store logo and shipping options. The design is intuitive in terms of placement of discount coupons and gift options.
Clarity About Shipping And Billing
Another common reason for cart abandonment in Magento 1 is the confusion between shipping and billing tabs. Customers entered the shipping information in billing tab, which resulted in payment failure. Magento 2 checkout eliminates the need of providing the billing address for payment methods such as PayPal. Customers have a better clarity about shipping and billing tabs, which reduces the rate of cart abandonment.
Making a move from Magento 1 to Magneto 2 is a smart move for e-commerce sellers who are struggling with cart abandonment. The switch promises to improve sales and get more business for the store without putting in much effort.