Almost 70% of shopping carts are abandoned upon checkout, based on 41 different studies. In light of this, checkout optimization should be a top priority for e-commerce websites to reduce the number of cart abandonment, and, therefore, missed revenue opportunities.
Think about this example: Out of more than 20 million e-commerce sites all over the world, 10 customers found your online store and liked your products enough to put some of them in their shopping carts. When they reach the checkout page, around seven decide to abandon their carts, leaving only three actual paying customers. Either the seven people changed their minds entirely or they decided to buy from a competitor.
It’s hard enough to make an e-commerce website stand out from the millions that offer similar products. It’s equally challenging to convince customers to stay and complete purchases. It is, however, not impossible.
In this article, we examined three reasons for cart abandonment according to the Baymard Institute and how geo IP targeting can help solve the problem by offering a smoother online shopping experience.