It’s a waste of money. No jokes.
Even though we haven’t yet met, the cart abandonment statistics make it obvious.
Your online shop is not the only one at risk. Cart abandonment can happen to any eCommerce website.
It is vital to stress from the beginning that customers who are engaged may not purchase.
This blog post was written by me.
This report contains more than 12 statistics about shopping cart abandonment. It also contains statistics on shopping cart abandonment.
1. All Industries have an overall cart abandonment rate of over 69.80%
Baymard’s analysis reveals that the average abandonment of shopping carts is %69.80. These statistics give the most accurate picture of cart abandonment across all industries.
70 potential customers will leave your company without purchasing from you for every 100. This is a serious loss in revenue.
Baymard’s research also showed that cart abandonment rates differ by device.
- Desktop: 69.75%
- Mobile: 85.65%
- Tablet: 80.74%
2. Ecommerce Stores Lose $18 Billion in Sales Revenue Each Year due to Shopping Cart Abandonment
What happens to a customer who abandons his shopping cart?
Statista found that less than a quarter of UK online shoppers abandon shopping carts and buy the same product from a different retailer
The worst thing about abandoning shopping carts can be the loss of revenue that your business experiences.
3. 49% of shoppers abandon carts due to high additional costs
Shopping carts are indeed abandoned by thousands of potential buyers every day, but the real question is why? “
73% More likely to buy an item if shipping is included
More than half of online shoppers are attracted to online retailers by the offer of free shipping/delivery.
Customers might not see extra shipping or tax costs. Customers could abandon your website if they do.
This is why 49% of shoppers abandon their carts.
4. 24% of online shoppers abandon carts after the site requires them to create an account
We all know that ordering online is time-consuming.
Some shoppers have trouble creating an account and providing all the necessary information for a purchase. 24% say they do so because it causes them to abandon their shopping cart.
Also, they may forget their password, even if they have created an account before. An average internet user has 100 passwords.
You can solve this problem by creating a guest account or an accelerated checkout option that recognizes customers.
5. 18% of shoppers abandon shopping carts because they find it too complicated.
An average US checkout flow contains 23 elements. These include the most common like name, address, and birthday.
While this data can be used to help online retailers understand their customers better, it could also cause them to abandon the site if they take too long to checkout.
This is a simple problem to solve. Eliminate all unnecessary fields from the checkout process.
6. Users who use mobile have an abandonment rate of 85.65% ( Barilliance).
A customer’s screen size will determine whether they will purchase. Digital buyers will shop on smartphones for the first time.
This is why optimizing your website for mobile use is so important. You can do it in the following ways:
- High site speed
- Keep the most important elements at top of the page
- Mobile-optimized site design
- Use mobile-compliant popups
7. 57% of online shoppers will abandon carts if they are forced to wait to load for 3 seconds or longer
Online shoppers don’t have the patience. 88% will not return.
It is crucial to test your website on both mobile and desktop devices. This will let you see how long it takes to load the page.
Conversion optimization is more than just site speed. To improve sales and user experience, use conversion rate optimization tools.
8. 55% of shoppers will abandon shopping carts when they need to enter their credit or shipping information
Statista’s research shows that 30% of shoppers abandon their orders without needing to re-enter the credit card information. 25% will abandon their purchase if they have to re-enter shipping details.
This problem can be avoided by filling out the shipping information fields automatically using the customer’s billing information.
9. 17% of online shoppers abandon shopping carts due to a lack of trust in the website
Shoppers may abandon their shopping carts because they don’t trust websites that collect credit card information.
They can’t be blamed.
Nearly 1.5 Million Americans were reported to have been the victims of identity theft in 2020.
How do you increase the trustability of your website? Installing an SSL certificate, showing testimonials and reviews from customers, and using Social proof to do so
10 46 Percent of customers abandon carts due to a discount code not working
Coupons have been used by the majority of consumers ( 90).
An alarming 46 percent of customers abandon shopping carts after encountering broken discount codes. You can avoid this by making sure that the code works before sharing it with customers.
11. Retargeted advertisements can bring 26 percent of shoppers back to your site
You may be wondering, “So, what happens when shoppers abandon their carts?” It is possible that they could become completely lost.
Retargeted advertising can be used to drive customers to your online shop. 34% of users noticed this is an impressive percentage considering that most internet users don’t view irrelevant ads.
Retargeting can get 26 percent of these customers to click on your site and return via retargeting.
12. Retargeted personalized ad campaigns can increase your ROI by more than 1,300%
Retargeting can be a great way of bringing qualified leads back into your ecommerce store. However, personalized ads can produce even better results when they’re tailored for each user.
Higher conversions with personalized calls-to-action Dynamic Content can be used to personalize ads such as user names or locations.
Zendesk segments, for instance, different retargeting audience lists to achieve a greater ROI than 1300%.
You could display a generic campaign to retarget customers, but you could also promote the product that someone added after abandoning their cart.
You have the power to stop revenue loss
As you can see, abandonment rates for carts are high. However, over half of online shoppers find the checkout process confusing and abandon their carts.
High abandonment rates can result from poor pricing and confusing checkout processes.
You can avoid this by optimizing your website speed, exit popups, or performing A/B testing.