According to a study in 2020, 88.05% of online shopping orders were not converted into a purchase. This makes businesses pay more attention to the shopping cart – the transitional stage between a potential and actual buyer.
What is the basic information about an online shopping cart that every merchant needs to know? This article will provide a solid definition, its roles in businesses, and how online shopping carts work in online stores.
Overview
What is an online shopping cart?
Simply put, an online shopping cart is similar to a traditional shopping cart in a store, albeit with more advanced features and in a virtual place.
It’s a place where customers can put all of their wishlist items, make changes to quantity, or review product features (such as sizes or colors). It allows consumers to consider if the items are within their budget. With a shopping cart, customers can also delete products before or during the checkout process if they change their minds.
Why is it more advanced than a physical shopping cart in a store? Apart from the ability to add and remove items (which can also be done in physical carts), items can be arranged systematically in a list of all relevant details. For example, the total price can be displayed to prevent consumers from overspending. In a nutshell, it’s a staging area for all of the shoppers’ desired products. Customers will then determine whether or not to make a purchase.
Why is an online shopping cart crucial for eCommerce businesses?
In eCommerce, browsers may not be shoppers, so the online shopping cart’s transitional function can increase a company’s conversion rate. To put it another way, the online shopping cart plays a crucial role in converting potential customers into actual buyers.
For store owners, a virtual shopping cart is a tool to keep track of their customers’ shopping habits. It tells businesses about what draws consumers in, and what causes them to leave their purchases. For example, you will learn the stages consumers spend the most time contemplating, what time of day they spend the most, and why they abandon their shopping carts. This allows stores to conduct critical research on various issues and develop appropriate solutions promptly.
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This data is also valuable to understand customer behaviors. This is because running a store on the Internet has two sides. Although it is easier for consumers to buy products and services, they are more likely to neglect and abandon those items.
How does an online shopping cart work?
Putting items in the cart
Imagine consumers are browsing the website and looking for their favorite products or services. This quest is the first step in converting a tourist into a potential buyer. Customers can quickly pick products for further inspection by using the ‘Add to cart’ button on any product page.
Buying stock
At this point, customers are required to enter their payment-related details, such as their name, address, phone number, credit card number, and so on. It is important to note that the amount of information that must be given shouldn’t be too much, because it can lead to impatience and annoyance among customers.
This is also the stage when the cart abandonment rate can increase. If you don’t want consumers to leave quickly, make the checkout process as simple as possible by including features like automatic address suggestions, various payment types, and several shipping options.
Customers often recheck their order details after clicking the ‘Submit/Complete order’ button to ensure there are no errors. If there are no issues, your store has effectively converted a ‘tourist’ into a buyer.
Purchasing more
While it is a success to get consumers to spend money on your e-store, the shopping cart’s job does not end there. Every business owner wants consumers to keep buying even after they’ve finished their first purchase. Therefore, some companies put a ‘Continue shopping’ button here.
Customers can return to the shopping web page and continue browsing for more items by clicking on this button. Therefore, a ‘Continue shopping’ button should be included, preferably with some automated recommendations for replacement or complementary products.
Conclusion
Without a doubt, online shopping cart can be highly beneficial for businesses if it is used wisely. We hope that this article has provided some useful information about this function in eCommerce.
In order to make the best use of online shopping carts, it is recommended that businesses have a suitable point-of-sale system that can support and enhance this feature. You can consider ConnectPOS, or contact us here if you have any questions.