August 30, 2023
A new white paper by JBC international aims to help European merchants with a prevalent issue in e-commerce: cart abandonment.
The e-commerce market around the globe is experiencing steady growth, and it’s expected to cross the $6.3 trillion threshold this year. Therefore, if merchants want to take full advantage of the market, they need to tackle common issues such as cart abandonment.
In recent months, customers in Asia have been more open to shopping from international online businesses.
The Asian market, in particular, has seen remarkable growth, with Southeast Asia alone accounting for five of the world’s ten fastest-growing e-commerce markets
Therefore, now that an entire continent is joining the customer pool, it is important for European merchants to capitalize on it. To that end, the white paper, titled ‘Click into Place | Unpacking Cart Abandonment’, reveals the primary causes of cart abandonment and focuses on giving simple yet effective solutions.
This includes easy-to-implement solutions such as providing payment choice, showcasing clearly defined options, logos, local currency requirements, pricing, and implementing device-specific payment journeys
The white paper focuses on helping European merchants to tackle this problem, with a focus on Asian customers: Because even though Asia accounts for 55% of the global consumer class, they also have the highest rate of cart abandonment in the world with the percentage being 84% in march, 2023.
Adopting a proactive approach and leveraging expertise from the right partners can help merchants shift the narrative and transform a challenge into an opportunity.
Fisher further explained there is no one solution to rule them all, so making sure to learn the customers’ behaviors and making sure to offer their preferred payment option will surely help reduce cart abandonment and increase sales.
Want to learn more? Check out Payments Cards and Mobile’s full write-up here.
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