Here’s a not-so-fun fact: a whopping 98% of people who visit your store won’t make a purchase.
Surprisingly, this isn’t the biggest marketer’s nightmare - it’s the fact that the average ecommerce store loses over 75% of sales to shopping cart abandonment.
People enter the online store, put an item in their cart and just when they’re about to complete the purchase - they drop out.
Given that cart abandonment is a huge problem for marketers, we’ve collected a list of 33 shopping cart abandonment stats and broke each in detail to provide you with a quick overview of what drives cart abandonment and how you can eliminate it and recoup your sales.
An average ecommerce website sees a conversion rate of only 2.86%. With competition so fierce, you need to differentiate yourself and entice the visitor to make a purchase. Creating personalized campaigns to target specific visitor segments who haven’t purchased anything from you before or using cookies to recognize a returning customer will help you boost your conversion rate significantly.
The number of sales you get directly impacts the success of your business. Simply put - if an ecommerce site doesn’t convert visitors, it won’t make money. Wikipedia reports an average rate of 67.91% cart abandonment, and this number greatly varies between 60% and 80%. This means that for every 100 potential customers, 60-80 will leave without purchasing anything.
With more and more consumers shopping on the go, mobile now drives 60% of ecommerce traffic. This trend has also caused an increase in mobile shopping cart abandonment. Studies have shown that the average abandonment rate on mobile is over 80%. It seems that mobile users are even more impatient when it comes to long checkout processes, unclear shipping details, and unresponsive web design.
Cart abandonment is a problem that can cut deep into your bottom line. Luckily, approximately $2.75 trillion is recoverable revenue, according to a Business Insider survey. To recover the lost sales, you need to manage your abandoned carts through retargeting strategies and to remarket effectively.
A Content Square study has revealed that converting shoppers is indeed one of the biggest challenges for online store owners. Furthermore, the same survey discovered that the the 25-34 and 35-44 age groups have the highest probability for cart abandonment, followed by the 45-54 age group.
“How do I stop a shopping cart abandonment?” is the question every marketer is bound to ask sooner or later. According to Baymard, the average ecommerce site can boost the conversion rate by 35.26% by improving their checkout design. This translates into up to $260 billion in sales. Impressive, right?
According to shopping cart abandonment statistics from 2018, 81.8% of carts in the travel industry were abandoned during the second quarter of 2018. Abandonment rates were also high in finance (77.8%), non-profit (77.3%), and retail (74.2%). During the observed period, the average cart abandonment rate across all industries was 75.4%.
40% of the respondents in a Content Square study who were shopping for clothes have abandoned their cart. Tech was second at 18%, followed by homeware at 16%, jewelry & accessories at 6%, and food at 4%.
Surveys have shown that the period between 6pm and 9pm also sees a high cart abandonment rate. As for days of the week, weekends are the prime time for dropping out from purchase. Other studies have noted that shoppers are highly likely to drop off a purchase on Thursdays.
APAC countries have the highest rate of cart abandonment. Middle Eastern countries come second with an abandonment rate of 76.1% while Latin America has the third highest cart abandonment rate at 75.3%. North America has a slightly lower rate at 74%.
A vast number of cart abandonment happens because potential shoppers not being ready to buy. Many of them are coming to an ecommerce site to window shop, explore options, or compare prices. Additionally, 15% of the survey respondents have said that they have abandoned their cart to go shop in-store. In most of the cases, these visitors won’t even initiate the checkout flow.
The majority of shoppers who have landed on an ecommerce site with a buying intention would abandon their carts before proceeding to check out because of the extra costs like shipping and handling costs. Additionally, shopping cart abandonment statistics show that over half of shoppers would leave the cart during checkout if they are surprised by the total sum. Another 21% of abandoned carts come from customers who were unable to calculate the total cost upfront.
Another 26% of the shoppers cited the long or complicated checkout process for being the main reason to discontinue the purchase. Make sure to streamline the process and eliminate the unnecessary pages. Also, never force customers to create an account to complete the process. Instead, offer a guest checkout option.
If your shoppers don’t trust you have a secure payment gateway, they would eventually abandon their carts. To prove they won’t have their card details compromised, you need to display “trust” seals. A Conversion Fanatics study has found out that trust seals boost conversions by 28.2% among new customers and by 19.2% in successful orders.
A survey conducted by Loqate in 2017 discovered that mobile ecommerce users have abandoned their carts in moments when the shopping experience felt inconvenient. The majority of them quit shopping when they faced troubles with entering their personal information, while 35% of them have left because their screen felt overcrowded or too small. Another 27% abandoned their cart due to problems with entering their order. These ecommerce cart abandonment rates emphasize the importance of having a responsive web design.
Customers expect a seamless delivery process that offers a variety of additional features to enable them to stay informed, track the delivery progress, or change their delivery preferences. Furthermore, since online customers don’t have the option to touch or try the products before purchase, the importance of a flexible return policy is more critical than ever. These shopping cart abandonment stats prove that you as a merchant need to up your game in terms of speed of delivery, flexibility, and reliability.
Shoppers generally trust more sites that offer a variety of options. Another study by Vouchercloud has found out that 59% of potential buyers would abandon a transaction if their desired payment method isn’t available. What’s more to it, if they try to pay with a credit card and it gets declined, they are highly likely to discard their transaction.
Complicated navigation was one of the main boosters of the cart abandonment rate in 2018. The more clicks required, the more likely they are to leave before completing a purchase. Ideally, the number of click until checkout shouldn’t be more than three. Choose a product, Add to cart, and Click the “Checkout” button - these are the three essential steps you need to keep your site’s navigation simple. Furthermore, make sure to present easy-to-identify categories, make the site to cart transition easy, and provide simple product organization.
Not only nearly 60% of consumers would abandon a site due to slow load time, but 80% of them will not return. Keeping an ecommerce site speedy can be quite challenging as these sites are often image-heavy. However, you can come up with an effective strategy to resize or compress your images in order to improve the site’s load time.
What’s more to it, 74% of consumers have cited excellent customer service as a reason to spend more money online. These shopping cart abandonment statistics prove that potential buyers will not go through with a transaction if they have a bad experience with your brand. If this happens, chances are they will never return. That’s why you need to go above and beyond to provide a top-notch service experience. Having an efficient support team or installing a live chat will turn to be worth the investment.
Many shoppers are active deal seekers who are continuously looking for the best bargain. If they can’t find it on your site, they will look somewhere else. Make sure to clearly showcase special discounts - use banners, popups, or sidebars.
Generally, shoppers don’t want to invest extra work. Over half of them would ditch the cart if required to fill in a shipping or credit card details form twice.
Email and ad retargeting are the best solutions when it comes to reducing cart abandonment Both of these types leverage customer information to reach out and lead the customer back to your site to finalize their purchase. However, email and ad retargeting are completely different methods as they use different types of information and reaching out methods. Let’s take a closer look at each one of them.
Abandoned cart emails are automated reminders sent via email to customers who have added an item in their carts but didn’t complete their purchase. These emails will remind the shopper what’s left behind and will offer an easy way back to finalize the purchase. A series of emails is a cost-effective way used to recoup lost sales. Let’s see how successful this technique is in practice.
Sending abandonment emails will help you recover some of the potential conversions. In fact, multiple shopping cart abandonment case studies have shown that it’s best to send the first email 30 minutes after the cart has been abandoned. If the first email doesn’t help, send another one within 24 hours of the abandonment, warning the shopper that their cart will expire. Finally, send a follow-up email within 48 hours to offer a discount for completing the purchase - 54% of shoppers will purchase the product if offered at a lower price.
If you’re contemplating how to reduce shopping cart abandonment and whether cart abandonment emails are effective, here you have the best answer. A whopping 40% of these emails are opened. Furthermore, 21% of the opened emails will receive click-throughs and 50% of those who click will end up completing a purchase.
This is a pretty astonishing rate if compared to the average rate of the newsletter, which is 0.17%. Furthermore, sending multiple abandoned cart emails instead of a single one can achieve 70% more orders.
Open rates of abandonment emails for nonprofit organizations have been 10% higher than the average across all industries. The travel industry was a distant second at 49.43%, followed by the finance industry at 41.36%.
Email conversion rates of the three biggest industries prove that email and on-site messages can make a difference. The retail sector had the highest email conversion rate (2.93%), while the fashion industry topped the chart for on-site conversion rates (3.40%).
Ad retargeting is one of the best shopping cart abandonment hacks. It provides the opportunity to target a larger percentage of the cart abandoners than email by giving your visitors a cookie which tracks what they leave in their cart. Then, the cookie informs the retargeting provider which ad to serve to the potential buyer. These ads will find shoppers wherever they browse without even opening their inbox.
Only 11% of consumers feel negative about seeing retargeting ads. The majority of online viewers (59%) remain neutral about being served with retargeted ads but a quarter of them appreciate them. The reason behind this is simple - they like being reminded of the things they were looking at previously.
One of the main benefits of shopping cart abandonment retargeting ads is the fact that you get the opportunity to show ads to an audience that is already interested in your product and has already visited your site. Furthermore, retargeting ads nurture this audience into completing a conversion.
The millennial consumer group is swamped with ads every time they look at their devices, so retargeting will help you get your brand in front of bounced traffic. They are already interested in the product - you need to pitch an ad and win them back.
According to shopping cart abandonment statistics, the average CTR for display ads is 0.07%, while the average for retargeting ads is 0.7%. This means that the engagement marketers get from retargeting is substantially larger, and it offers better possibilities to convert visitors.
As we mentioned several times throughout this piece, retargeting is the king for personalizing ads. Serving ads to your hyper-responsive prospects, a.k.a your warm audience, will help you get the best response. Plus, they are highly likely to take the desired action.
If you want to get the most out of your remarketing ads, you should use the Google Display Network or Facebook. GDN is the most robust retargeting network which serves over 1 trillion impressions to more than 1 billion users monthly. With more than 1.4 billion users and a billion of them logging in every day, Facebook also offers excellent opportunities for remarketing.
There you have them - 33 shopping cart abandonment stats to inform your next steps. One thing you should know is that you can’t diminish the cart abandonment entirely - people will inevitably leave before finishing the transaction. However, you can undertake some crucial steps to reduce this behavior. Here’s what you can do in a nutshell: