22 Shopping Cart Abandonment Tips to Improve Your ROI in 2022

 


Nothing is more frustrating for a marketer than having clients walk through your whole sales funnel just to leave their shopping carts at the final minute.

 

However, by reviewing the most recent shopping cart abandonment data, you'll have a better understanding of why this occurs and how it might influence your business.

 

Even better, you'll have the knowledge you need to alter your plan in order to increase your chances of closing a deal.

 

With that stated, here's a list of the top shopping cart abandonment data to help you maximize your return on investment (ROI).

 

Shopping cart abandonment ROI statistics and facts

Cart abandonment may cost online companies a lot of money. This section will teach you how much of a negative impact shopping cart abandonment has on a business. Furthermore, there is evidence here that will show you that cart abandonment does not always imply lost sales.

1.  Brands can lose $18 billion due to cart abandonment.

According to Forrester Research, firms might lose up to $18 billion in annual sales income as a result of shopping cart abandonment (via Dynamic Yield). And it's feasible that figure may rise to $4 trillion in the coming years.

 

That is why it is critical to handle shopping cart abandonment. It's something the ecommerce business just cannot afford. If you offer goods and services online, you should develop an abandonment reduction plan.

 

2.  Using retargeting ads can get you an ROI of 1,300%.




Retargeting advertising promote users items or services in which they have a personal interest. That is why it is the most effective technique to re-direct qualified leads to your sales pages.

 

There are already brands that do this. Thanks to retargeting advertisements, Zendesk was able to achieve a ROI of 1.300% in one case.

 

 

 

Even if customers abandon their carts, you can utilize retargeting advertisements to rekindle their interest in your business and re-engage them where they left off.

3.  UK retailers are losing out on £18 billion in sales due to cart abandonment.

Shopping cart abandonment isn't simply an issue in the United States. Even UK merchants are losing up to £18 billion in sales as a result of it.

 

This is because UK customers are in the habit of online window shopping — that is, putting products to their shopping cart but abandoning the purchase before it is completed. Every month, Brits leave carts containing over £30 worth of merchandise.

 

Women's knitwear, leather goods, women's lingerie, headphones, watches, women's sportswear and skirts, books, men's trousers, and women's tops and shirts are among the most abandoned products in the UK.

4.  Shopping cart abandonment doesn’t mean lost sales.

Cart abandonment, according to Deborah Goldring, associate professor of marketing at Stetson University's School of Business Administration, does not always imply lost revenue.

 

She also mentioned the phenomena of near-purchase behavior, in which shoppers utilize the shopping cart as a shopping list. Customers use this in order to save products for a later date. Alternatively, people utilize shopping carts to record pricing information and compare delivery costs.

 

Customers may also shop online but prefer to purchase products in-store.

Shopping cart abandonment user behavior statistics

Consumers opt to leave their shopping carts for a variety of reasons. And the key to improving conversion rates is to understand why these folks depart in the first place.

 

Here are the most typical reasons why consumers abandon the checkout page, as well as what you can do to remedy them.

5.  Extra costs are the main reason why users abandon their carts.

Baymard performed a survey of over 4,000 consumers to uncover the primary reason why individuals abandon their carts. Extra expenditures such as shipping, tax, and miscellaneous fees were deemed excessively expensive by a staggering 49 percent of respondents.

 


24 percent of respondents stated they abandoned the checkout process because they were required to create an account in order to finish the purchase.

 

Other major causes include a complex checkout procedure, being unable to locate the complete upfront cost, not having adequate payment alternatives, and credit card declines.

 

However, most of these concerns may be resolved by making changes to your e-commerce site. So keep these considerations in mind while you revise your checkout pages.

 

6.  Mobile users tend to abandon shopping carts at a higher rate.

Mobile consumers abandon their shopping carts at a higher rate than tablet and desktop/laptop users. According to Barilliance, the phone abandonment rate in 2019 is 80.79 percent.



This is significant given that desktop users quit their devices at a rate of just 73.93 percent.

 

To compensate, consider optimizing your online shop for mobile devices, putting the most critical information on the page above the fold, increasing the user experience, and making your product pages as succinct as possible.

 

7.  57% of online customers will leave if a page doesn’t load in 3 seconds.

 

If your website—including the checkout page—doesn't load in 3 seconds, visitors are likely to abandon it. The dropout rate might reach 57 percent.

 

To make matters worse, 80% of those prospective buyers will never return to your website.

Coupons and discount codes, on the other hand, will assist a firm grow. A promo code will be used by half of all buyers in the United States. And 4% will express thanks upon receiving a voucher or discount.

 

8.  Websites that is difficult to navigate lead to cart abandonment.

According to Michelle Abdow, owner of Market Mentors LLC, a difficult-to-navigate website annoys customers, which leads to cart abandonment. Broken links, too many product categories, sluggish loading times, and poor site structure are some of the characteristics that make a site difficult to navigate.

 

To address this, organizations can undertake a thorough site audit to determine the source of the problem.

 

9.  44% of UK consumers abandon carts if their favorite payment method is unavailable.

According to a new survey, UK shoppers would leave their carts if they cannot identify their preferred payment option throughout the checkout process.

 

The desertion rate rises to 51% among millennial (those born between 1980 and 1993). Customers born between 1994 and 2001 have a 48 percent abandonment rate. When it comes to internet buying, these two generations are the most active.

 

As a result, merchants must expand their payment options or risk losing a transaction.

 

10. Users use cart abandonment as a form of retail therapy.

While cart abandonment might be annoying for the e-commerce sector, it can be beneficial to customers, especially during the pandemic. Due to the high unemployment rate in 2020, online window browsing has emerged as the new form of retail therapy.

 

Online shops are available 24/7 and may be done safely from the comfort of one's own home, as opposed to travelling to the mall, where individuals must drive to locations. It's a more secure approach to acquire the same high.

 

Some individuals characterize it as a kind of relaxation, a novelty, an insomnia pastime, or a hobby.

 

11.  50% of shoppers will abandon shopping carts if delivery options aren’t satisfactory.

50 % stated they abandoned their shopping carts because the retailer's delivery options were poor or did not match their demands.

 

And it doesn't end there. 60 percent said they'd buy the same or a comparable product from another shop that offered the type of shipping options they're searching for.

 

To avoid this issue, ensure that your product distribution range is both broad and well-supported, so that your consumers have the most possibilities.

 

Shopping cart abandonment rate statistics

 

This collection of shopping cart abandonment rate data will help you understand how many customers quit their shopping carts before purchasing things. It will also tell you which industries have the highest desertion rates.

12. The average abandonment rate is 69.80%.

Baymard reviewed 44 papers on abandonment rates. And when they assessed the average percentage of shopping cart abandonment, they discovered that it is 69.80 percent.

 

 

13. Barilliance puts the average abandonment rate at 77.24%.

 

The average shopping cart abandonment rate may be found online in a variety of metrics. However, according to Barilliance, the percentage will be 77.24 percent in 2021. It was noted, however, that some sources have it as high as 80% and as low as 55%.

 

In contrast, Barilliance discovered that the rate in 2021 is somewhat lower than it was in 2017, which was 78.65 percent.

 

This indicates that more than a third of customers do not complete the purchase and instead leave their online shopping carts.

14. The automotive industry has the biggest abandonment rate.

 

As of March 2020, the automobile business has the highest desertion rate, according to Statist. It has a very high rate of 96.88 percent.



Other businesses with high desertion rates include infant and kid (94.36%), luxury (92.61%), auto rental (92.04%), airlines (90.91%), fashion (90.68%), gardening and DIY (90.34%), and cruise and ferry (90.34%). (90.13 percent).

 

15. Cart abandonment rates went higher since Covid-19 started.

According to Amperity VP Jordan Elkind, a recent investigation found that customers produced 46.8 percent more shopping carts since the start of the epidemic compared to the previous year.

 

During the same time span, the percentage of cart abandonment jumped to 94.4 percent. This is a significant increase over the previous year's desertion rate of 85.1 percent.

 

In a comparable vein, the digital buying platform ShopStyle noted a rise in the use of the favorite button by its customers. Favorites have increased by 392 percent.

 

Shopping cart abandonment business statistics



How are companies dealing with high desertion rates? Is there any technology that could assist minimize it?

 

Businesses are all too aware of how damaging cart desertion can be. That's why they're relying on technology to boost their profits.

 

This section will demonstrate how online shops are attempting to tackle high desertion rates.

16. JCPenney dropped cart abandonment by 18% using AI.

JCPenney's abandonment rate decreased by up to 18% when the business used predictive AI. The AI technology produced positive outcomes by enabling real-time, tailored engagement.

 

JCPenney collaborated with Metrical to utilize AI technologies to enhance the consumer experience. As a result, the number of new carts created grew by 40%, and income on targeted trips climbed by 10%.

 

 

 

More notably, JCPenney experienced an 18% decrease in cart abandonment.

 

17. 45% of cart abandonment emails are opened.

According to Moosend's statistics, when marketers send cart abandonment emails, 45 percent of them are opened. And, of the emails that were opened, 21% received click-through.

 

What's more striking is that half of those who interacted with the content of cart abandonment emails finished their purchases.

 

18. Navis released an integrated cart abandonment solution.

Navis has created a cart abandonment solution that integrates the industry's most prominent online booking engines with its Navis CRM.

 

When guests leave their website, a new shopping cart abandonment application delivers these leads into Navis, where it sends automatic follow-up emails and allows reservation sales teams to act on them.

 

During the trial campaign, their clients had an average lead conversion rate of 25 to 40%.

 

19. Online retailers are looking for new solutions for cart abandonment.

Online merchants are devoting money and time to addressing cart abandonment. They are specifically searching for methods to speed up and improve the checkout process.

 

One of the common alternatives being considered is the use of one-click checkout mechanisms similar to those used by Amazon.

 

They are also considering incorporating digital wallets such as Apple Pay. According to estimates, by 2024, half of the world's population will be using digital wallets, and contactless payment transactions would top $1.5 trillion.

 

If your company is struggling, consider one of these alternatives.

 

20. Strong Customer Authentication leads to cart abandonment.



According to Microsoft's tests, strong customer authentication, or SCA, causes a high likelihood of transaction abandonment.

 

For all European internet transactions, SCA is a two-step authentication process. Customers will need to submit more than one evidence of identity to purchase goods, such as a password, a fingerprint or face scan, or access to their phone.

 

The tests reveal that people dislike the obstacles offered by SCA and are perplexed by them. There are other cases where SCA is not properly implemented.

 

What can we take away from this? Don't make the checkout procedure too complicated. When customers are having difficulty, they tend to abandon everything and depart. That is not what you desire.

 

21. Google can add items to shopping carts.

Not only can Google add products to shopping carts, but it does it on purpose to validate the prices offered by online retailers.

 

Google verified this through the SEO Roundtable. To quote Google, "we employ automated processes to guarantee consumers receive accurate pricing information from our merchants." As a result of our technology evaluating whether the price presented matches the price at checkout, businesses may occasionally encounter abandoned carts."

 

This is part of Google's assault on Google Merchants that break the price restrictions of the site. However, this means that internet businesses may come across abandoned carts that aren't organic.

 

22. “Buy Now, Pay Later” installment payment option helps reduce abandonment rate.

Fiserv, a financial services technology solution, launched a "Buy Now, Pay Later" installment payment option to assist its network of online shops in lowering cart abandonment rates.

 

This is an excellent option for individuals who do not have access to credit cards or who are seeking for a means to budget their money. It also refers back to one of the preceding facts about having as many payment alternatives as possible to reduce cart abandonment.

 

Conclusion

Cart abandonment costs ecommerce businesses a lot of money. However, if you are losing consumers throughout the checkout process, remember that it is not the end of the world.

 

There are several options for dealing with the problem. Experts recommend conducting a thorough site assessment to see whether there are any pain spots for your clients that are keeping them from converting.

 

Is your website taking a long time to load? Are you asking too much information from your customers? Do you have the appropriate payment and delivery methods?

 

These are just a few ideas for you to consider.

Furthermore, research suggests that email follow-ups are positively received by customers. As a result, you might consider sending abandonment cart emails to try to convert a portion of individuals who have abandoned the conversion process.

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