A virtual shopping cart is an online tool that allows customers to select and store items they wish to purchase from an e-commerce website. Functioning like a physical shopping cart in a store, the virtual shopping cart lets users add, remove, and modify products before completing their purchase. This essential e-commerce component facilitates smooth shopping experiences by securely managing item details, prices, quantities, and user preferences throughout the browsing session. Often integrated with checkout and payment processing systems, virtual shopping carts also collect valuable customer data to personalize the shopping experience and streamline order fulfillment.
As of 2024, virtual shopping carts are used in over 90% of online retail sites, with global e-commerce sales expected to hit $5.5 trillion. The abandonment rate for online shopping carts, however, remains a challenge, averaging around 70%, often due to unexpected fees, complicated checkouts, or insufficient payment options. Companies are counteracting this with personalized offers and streamlined checkout processes. For instance, major retailer Amazon uses a virtual cart with "1-Click Checkout" technology, designed to minimize abandonment by making the checkout as simple as possible. Data Insight: E-commerce stores that offer guest checkouts and multiple payment methods reduce cart abandonment by up to 45%.
A well-optimized virtual shopping cart is essential for increasing conversions and reducing abandoned sales, and Swipesum can help you achieve just that. With our in-depth payment expertise, we analyze your cart setup to optimize for smooth checkout experiences, integrating multiple payment gateways, real-time inventory syncing, and personalization features. Swipesum’s team ensures your cart works efficiently with payment solutions that cater to your customer demographics, boosting customer satisfaction and completed transactions.
