Baymard Institute reports that 69.57% of online shopping carts have been abandoned. This is a staggering statistic. 70 percent of potential customers will abandon your company without buying. How much more revenue would you make if you captured those sales rather than losing them?
Online businesses are in great pain when cart abandonment occurs. This article contains 30+ statistics on cart abandonment to help explain why shoppers abandon carts and what online retailers can try to do about it. This knowledge will help you convert browsers to customers.
What is the average abandonment rate for shopping carts?
Research from Baymard Institute shows that the average cart abandonment rates differ by device. Mobile and tablet users have the highest percentages of shoppers clicking the exit button on checkout pages.
- Desktop 69.75%
- Mobile: 85.65%
- Tablets 80.74%
Your customers’ location also has an impact on how likely they will abandon their online shopping carts. An estimated 86.15% of Spanish shopping carts are abandoned halfway through. The Netherlands has the lowest abandonment rate, at 65.49%.
Some items have larger drop-offs. Items in the women’s knitwear, leather goods and lingerie categories are most vulnerable to “website windowshoppers”.
Many factors can lead to cart abandonment. It’s likely that most people who add items to their online shopping carts don’t make a purchase. There are things you can do to change this. Continue reading to learn more about the main causes of abandonment of shopping carts.
Shopping cart abandonment: What are the consequences?
Potential customers choosing to exit instead of “complete your order” can lead to lost revenue for your company. Cart abandonment is a major reason why ecommerce stores lose $18 million each year in sales revenue.
Cart abandonment is a major reason why Ecommerce stores lose $18 million in annual sales revenue.
What happens when customers leave your website?
Statista research found that less than a third of UK shoppers abandon their carts and return to purchase the product. 25% of them purchase the same product from a rival.
Why are people abandoning their online shopping carts
Additional costs can be too expensive
Modern-day shoppers are clearly conscious of the importance of cost. Therefore, it shouldn’t surprise that cart abandonment is a major cause for extra checkout costs.
49% of shoppers abandon their shopping carts because the checkout fees were too high.
Customers may not always be aware of additional costs, such as shipping and taxes. They abandon 49% of their carts when they see the additional fees on top of each product’s price.
A bank account is required
24% of online shoppers abandon their shopping carts because the site asked them to create an account.
Online shopping doesn’t require you to fill out tedious fields like your phone number and birthday. It can be frustrating for some shoppers to have to provide all that information in order to make a purchase. This is why nearly a quarter of cart abandonment (24%) occurs because the site requested them to create an account.
It can be difficult to remember the login details of someone who has created an account previously. The average internet user has 100 passwords.
This can help you solve the problem for potential customers by offering a guest checkout option and an accelerated checkout option that keeps a customer’s information.
The checkout process takes too long
Did you know that the US average checkout flow has 23 form elements default? Online retailers can use your name, address, birthday to help them understand their customers. Your search for information may be making them leave.
18% of shoppers abandon their shopping carts due to a lengthy and complex checkout process.
18% of abandonment occurs because of a long and complex checkout process.
This is a simple fix. ShopPay stores customers’ information and allows them to tap to purchase the items from their cart. There are no lengthy forms.
Pricing was not clear
Cart abandonment is often caused by high shipping costs. Similar to the above, 17 percent of cart abandoners abandoned their carts because they couldn’t estimate the total order cost upfront.
Online purchases can result in additional fees for customers, especially if they are buying from another country. It’s important to consider whether buying online is worth it.
Website is not trustworthy
17% of online shoppers abandon their shopping carts after they don’t trust the site to handle their credit card information.
Nearly 1.4 Million Americans reported having been victims of identity theft in 2020. Online shopping is a convenient way for shoppers to protect their privacy. This is because sensitive information, such as credit card numbers or home addresses, can be submitted via online checkout.
One-third of online shoppers abandon their shopping carts after they don’t trust the website with their credit card information.
This can be fought by installing an SSL certificate, highlighting customer testimonials and showcasing warranties.
How to stop cart abandonment and recover lost sales
1. 1. Use an ecommerce platform that is trustworthy
The journey to recovering lost ecommerce revenue does not begin at the checkout page. How likely a customer will complete their purchase depends on the entire user experience. This success is due to choosing an best in-class ecommerce platform.
Verify that your ecommerce platform supports responsive design. Mobile and tablet users are more likely to abandon their carts. Your mobile experience is likely to be poor if your load times are too slow or the page requires pinching and squeezing in order to make sense.
You can choose a template that adapts to the device on which it is being loaded. You can choose from 70+ responsive Shopify themes.
Consider any apps that could reduce cart abandonment on your entire ecommerce website. Keep cart is an example. It’s available in the Shopify App Store. It stores the items that a customer added to their online shopping cart. They can save the items if they leave your website and come back later.
2. Accept other payment options
Customers no longer have to enter their long card numbers into their browser. A mere 7% of shoppers abandon their shopping carts because the retailer doesn’t provide enough payment options.
Some of the most well-known payment methods include:
- Apps for shopping (ShopPay and PayPal).
- Digital wallets (Apple Pay and Samsung Pay, as well as Google Pay)
- Shop Pay Installments Klarna, Four and AfterPay – Buy Now, Pay Later
One in four merchants who use Shop Installments double the average order value. Customers can spread the cost by making monthly payments. Customers can spread out the cost of more expensive items over a longer time. This explains why 215% of 2021 customers can spread the cost of higher-ticket items over a longer period.
TIP – All US Shopify merchants now have Shop Pay Installments– Add Shop Pay Installments Banner on your Product Page today.
The good news is that you don’t need to overhaul your existing payment processing system. The good news is that you don’t have to change your current payment processing system. Customers can simply plug-and-play an app like ShopApp to use their preferred payment method and place items in their cart with just one click.
3. Offer free (or discounted) delivery
Amazon’s shipping offers are one of the biggest incentives to customers to shop there. However, 19% of shoppers abandon their carts when they find that Amazon’s delivery options are too slow.
You could offer free shipping to your customers, and display it prominently during checkout. If you are able to cover shipping costs for orders above a certain amount, you could also include shipping cost average into the retail price of your product.
There are ways to offer cheaper shipping even if you cannot eliminate shipping costs completely. There are many options:
- Reduce its weight by using lightweight packing materials
- Rely on Shopify Shipping
- Local delivery and pickup are free
4. Highlight your returns policy
Not only are returns policies important after purchase, but they’re also essential for future purchases. One in 10 cart abandonments are due to the returns policy not being followed during checkout.
Online retailers are often plagued with returns. It doesn’t make any sense to display return options after a customer has bought it. Not necessarily. Online shoppers want to know that they have options. They can return an item for a full refund or exchange it for something else.
Online shopping has the advantage that customers can shop across multiple channels simultaneously. Advertisements on social media, email and other websites offer prime real estate to reduce cart abandonment.
Retargeted ads are also noticed by three in four shoppers. Over 25% (26%) of those consumers will click on the targeted ad to return to your website.
Facebook is one social media platform that allows you to retarget shoppers who have abandoned items from an online shopping cart. The Pixel is placed on your website and collects data about the shopper, including which items they have abandoned. This data is linked to a Facebook account.
Dynamic product ads display the items they have left and encourage them to return to your site to make the purchase.
Cart recovery email is another way to recover lost revenue. They collect product information data, similar to retargeting ads. For example, which products a customer added to their cart? What size and what color? To send an email reminder to complete the purchase.
What makes a great cart recovery email? An email reminding the customer of what they left can convince them to buy again.
Timing is crucial when reminding people about the items they have left in their shopping basket. The majority of people who converted to White River‘s cart abandoned email within one hour were successful (77%).
This means that if you wait too long they will disappear. “Any abandoned cart recovery strategy that waits six hours before sending a follow up has obviously failed, not to mention the time it takes to wait a day or longer.” –John Chao.
7. One-click checkout
Your online store‘s success depends on your checkout experience. Positive checkout experiences will get shoppers to the confirmation page quickly. Negative experiences will make them leave mid-way through.
We mentioned earlier that 18% cart abandonments are due to a complex checkout.
A better checkout design can help ecommerce businesses of any size achieve a 35.26% higher conversion rate. A better checkout flow and design can help recover an estimated $260 million of lost orders.
This can be achieved by offering seamless checkout such as one-click checkout. It is essential for quick conversions ( Shopping Pay speeds checkout speed up by 4x), and one-click checkout has been shown to increase conversions by 35.62%.
Shop Pay checkouts offer seamless shopping experience. Our study found that Shop Pay checkouts have an average checkout-to order rate of 1.72x higher than regular checkouts.
Shop Pay’s conversion advantage can be seen on desktop and mobile. However, mobile is where it shines. Shop Pay checkouts convert at 1.91x higher rates than regular checkouts.
This is an enormous advantage for direct to-consumer brands. Mobile conversion can make the difference between making or losing money.
Start recouping lost ecommerce sales
These statistics on shopping cart abandonment prove that you are losing money. Your website is already being visited by people. Over half of people who are satisfied enough with a product to add it to their shopping cart abandon the site without purchasing.
The good news is: It can be prevented.
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