Posted by Jennifer on Friday, January 16th, 2015 and filed under
One of the scariest statistics in e-commerce is the dreaded shopping cart abandonment rate. If you can stomach it, click on this link here to view the shocking numbers gathered by several data companies. The average abandonment rate is 67.91%. Ugh! That’s a lot of lost revenue. The number is even more harrowing when we take a look at m-commerce. A whopping 97% of mobile transactions are abandoned (SeeWhy).
Now let’s take a look at the major reasons why people ditch those shopping carts in cyber space, even when they want to buy your products. Check out this list. Some of the problems are insurmountable, like when a customer simply decides against buying a product. But what about all the reasons that can be avoided like website crashes, a too long checkout process and excessive payment security checks? It all comes down to convenience.
As consumers, we might have a lot more patience for a slow website or a laborious checkout process when using our laptops or desktops, but if we’re trying to make a quick purchase on our smartphones, forget it!
The current mobile shopping cart abandonment rate leaves just a 3% window for success. That’s not very promising, considering how many of us are now using our mobile phones and tablets to shop. The latest data shows that 43% of tablet users and 34% of smartphone users use them to make purchases (Digitas Lbi, 2013).
It was our own frustration with mobile shopping that prompted the creation of the GimmeAnother app, an app that lets customers re-order their favorite products with just a few taps on their smartphones. GimmeAnother CEO Jon Roketenetz found it hard to believe that the general online checkout process is pretty much the same as it was 10 years ago—despite all the technology changes that have taken place over the years.
The GimmeAnother app allows retailers to dive into mobile commerce with confidence and offer their customers the convenience of “Save-to-Mobile” technology. When a customer sees a favorite product online, they can easily save it to the app for later re-ordering when they want. This functionality puts control back in the customers’ hands.
GimmeAnother specializes in working with retailers who sell “recurrable” products, items customers order again and again, like specialty foods, favorite personal care products, household goods and more. The app fosters customer loyalty and retention, and best of all, helps to push those mobile shopping carts all the way through a quick checkout process. Customers can place orders with just a few taps on their Apple or Android smartphones.