Cart abandonment is a major problem for e-commerce businesses. According to a study by Baymard Institute, the average cart abandonment rate is 69.99%. This means that for every 100 customers who add items to their cart, only 30.01% will actually checkout and complete the purchase. 

There are many reasons why your customers may abandon their carts. But one of the most common reasons is that they are not sure when the product will arrive. When customers know exactly when their product will arrive, they are more likely to complete the purchase. 

If your customer is unsure when their product will arrive, they may abandon their cart to shop elsewhere–a negative impact on your revenue. AI-driven estimated delivery dates (EDDs) resolve this by addressing their uncertainty. An accurate EDD helps reduce their anxiety and makes customers more comfortable completing their purchase. 

Here are some examples of how precise EDDs work in your e-commerce business. 

• A customer is shopping for a new pair of shoes on your webstore for an upcoming event. They add the shoes to their cart and proceed to checkout. However, they hesitate before buying because they don't know if the shoes will arrive on time. At this point in the transaction, an accurate EDD on the product page–which says that the shoes will arrive in 4 business days–gives the customer the information they need to make a decision, and they are more likely to complete the purchase.

• A customer is shopping for a birthday gift for their child on your website. They find a toy that their child would love, but they need the toy to arrive by the child's birthday in 2 weeks.  They see an accurate EDD on the product page, which says that the toy will arrive in 1 week. This gives the customer the peace of mind they need; as a result, they can confidently proceed with the transaction.

• A customer is shopping for a new laptop on your website. They find a laptop that they want, but are concerned about the shipping time.  They see that your website has an accurate EDD on the product page, which says that the laptop will arrive in 5 business days. This gives the customer the information they need to make a decision, and they are more likely to buy. 

In short, an accurate EDD provides your customer with the peace of mind they need to complete their purchase- something that is crucial for expensive items or time-sensitive orders such as birthday gifts. 

Keeping all of this in mind, here are some key tips for preventing cart abandonment with an AI-driven EDD:

• Ensure that your EDDs are accurate: Carrier provided EDDs are not precise enough for your customers. In order to meet your customers’ expectations, you can leverage the power of AI to harmonize carrier data, warehouse data and customer data and produce a precise EDD for your customers’ orders.

• Display your EDDs prominently on your website: The natural next step upon producing precise EDDs is displaying them on your product page for customers to easily view - the key is to allow your customers to see the EDD before they add an item to their cart, or even sign in to their accounts.

• Offer guaranteed delivery dates: This can give customers the peace of mind they need, and can make the difference between your customers completing their purchase or abandoning their carts for your competitors’ shops. It is important to note that guaranteeing delivery dates can only work if your AI-driven EDD prediction solution can combine all the necessary data from carriers and your in-house systems.

• Allow customers to track their orders: Being able to track their order is crucial for your customers in reducing their anxiety about their order. This means embedding a tracking page into your website, so your customers can check the delivery status without being sent to third party carrier websites. This is a great way to also build your reputation as a reliable business. 

In addition to reducing cart abandonment, AI-driven EDDs can also help you to build trust with your customers and improve the overall customer experience. If your customers know that they can rely on you to provide accurate and timely delivery information, they are more likely to shop with your business in the future. 

EDDs can also help to reduce the number of customer inquiries about delivery dates. This frees up customer service representatives to focus on other tasks, such as resolving customer issues and providing excellent customer service. 

If you are an e-commerce business that is looking to reduce cart abandonment, AI-driven ultra-precise EDDs can be a valuable tool. Book a personalized demo with us and learn how you can maximize your business potential.