If you have ever wondered what relationship shipping prices and your customers share, it’s a one lengthy algorithm that can ultimately determine how well your sales department fares with your ecommerce store. In the most recent study, which was conducted by comScore and UPS (UPS Pulse of the Online Shopper), the numbers that were revealed by this study tell the convincing story.
Shipping Prices Play a Strong Role with Customers
By and far, one of the most important aspects of securing a customer at the time of checkout, according to the report, was the offered shipping prices. These will dictate how your shoppers feel and how they behave on your website. Queried customers in the report were asked what the top factors were in them making a purchase or not, and unsurprisingly the answer was shipping. Moreover, 68% stated that free shipping would cause them to recommend the store to another person; whereas 59% stated that if the shipping costs were high, in comparison to the perceived value of the product being sold, they would give a negative recommendation. The study also noted that shipping costs did not only influence positive or negative emotions, but that they also were the leading factor in shopping cart abandonment rates, too.
Statistics on Shopping Cart Abandonment Rates
Interestingly enough, the same report also found that, as of the past year, over 87% of all shoppers claimed to have abandoned a shopping cart, an increase of over 6% from the previous year’s report. Of the top reasons why, 54% of respondents stated that shipping prices were the primary factor. Among the most integral of processes during the checkout sequence, 76% said that free shipping being offered was the most important part of them deciding whether or not to abandon the shopping cart.
Other Statistics About Shipping Prices
There are some other important metrics that you should also consider when determining what the best shipping prices and policies are to put into place at your online store. The very same study offers a wealth of insight that all ecommerce shopkeeper ought to pay heed to. While your customers crave free shipping, there are some other factors that may surprise you about their behavior as well, according to the study.
Want to Offer the Best Flat Rate Shipping Prices?
At TrueShip, our goal is to create intelligent software that helps your business succeed. Our solutions automate many of the tedious elements of your pack and ship process so you can focus more on running your business and sustaining growth. ReadyShipper shipping software integrates with most popular order management, accounting and ecommerce platforms to offer a veritable multi-carrier solution. We also tie you directly into the best flat rate shipping prices thanks to our partnership with Express 1, Endicia and Stamps.com.