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Worthy Cart Abandonment Rate Statistics to Consider
It is important to highlight from the start that an engaged customer is not always guaranteed to buy. And that’s totally normal.
However, the cart abandonment statistics data are highly and clearly showing that it’s not just your online store but also your brand being battered by the change.
➤ The average cart abandonment rate globally is 71.82%.
According to the latest research of XP2 by Dynamic Yield, there has been change through the rates around the months, yet the average rate is calculated as 71.82%.
This stat paints the most accurate picture of the current state of cart abandonment across the globe.
That roughly means that for every 100 potential customers, at least 70 of them leave with items in their cart without purchasing. (That’s a lot of revenue lost.)
➤ Also, the XP2’s research shows that mobile devices have the highest percentage of abandoners at the checkout page when comparing by device.
The average cart abandonment rates by device differ as follows:
- Tablet: 64.65%
- Mobile: 77.08%
- Desktop: 62.04%
➤ The highest rate of abandoning cart belongs to Home & Furniture category with 75.99% in late November.
The stats about different industries are as follows:
➤ Cart abandonment emails constitute +6.2% of +31.6% extra sales.
To prevent cart abandoment rate, emails are good choices to prefer.
Therefore, instead of letting the potential customers go, it is best to keep them through emails.
To create emails, you can get help from these 50+ Click-Worthy Abandoned Cart Subject Lines + Examples.
➤ In terms of any unexpected shipping costs, 28% of people abandon their carts.
It’s true that every day thousands of potential buyers leave shopping carts without purchasing, but the real question is, “why do people abandon shopping carts?”
As SaveMyCent stated in its research, free shipping/delivery is the most effective incentive in convincing them to buy an item from an online retailer for more than half of online consumers.
However, when any extra costs in terms of shipping, the customers may lose confidence in the brand.
Therefore, they may give up buying the product and abandon their carts.
➤ There are various reasons for people to abandon their carts according to Baymard Institute’s Research.
➤ The average cart abandonment rate is highest for mobile users with 77.08 percent.
“The smaller the size of the screen, the more likely a customer is not to purchase. This is problematic considering that for the first time ever, more digital buyers will use smartphones than desktops to shop.” - Brilliance.
In contrast to what XP2 stated, you need to know the importance of optimizing your website for mobile, which can be easily achieved in the following ways:
- Have a high site speed
- Keep the critical elements above the fold
- Optimize site design for the mobile
- Use mobile-compliant popups
➤ 46 percent of buyers abandon carts because the discount code doesn’t work.
Doubtlessly, coupons are one of the most effective methods of creating loyalty in existing customers .
They can skyrocket conversions; however, they may also cause prospects to leave when shoppers run into any issues in applying the discount code.
The best way to avoid your customers’ abandoning carts is to ensure the code works smoothly before sharing it with the customers.
➤ 55% of people will abandon shopping carts if they have to re-enter their credit card or shipping information.
A study from Statista reports that 30 percent of shoppers will leave without completing the purchase if they have to re-enter their credit card information, and 25 percent will leave if they have to re-enter their shipping information.
The simplest way to avoid that problem is to fill automatically in the shipping information fields with the shopper’s billing information.
➤ 90% of shoppers will abandon their cart if the site is too slow.
Most online shoppers have too little patience and as Yotta has observed, 9 out of 10 shoppers will leave the site if the is too slow.
Therefore, you need to test your website both on desktop and mobile and see how long the page-load time takes.
Website speed is only a part of optimizing for conversions. You can take advantage of conversion rate optimization tools to boost sales and UX.
➤ Around 20% of people abandon their online shopping carts because of the trust issue, says Baymard.
Another reason behind abandoning shopping carts is because shoppers don’t trust the website with their credit card information.
It’s pretty standard for online shoppers to be concerned about giving sensitive information like credit card numbers or home addresses online.
How to improve your website’s trustability? Installing an SSL certificate, showing customer testimonials, reviews, highlighting warranties, or using social proof can help you improve it.
➤ Retargeted ads can send 26% of shoppers back to your site.
You may ask, “so, what happens after shoppers abandon their carts? Are they completely lost?” Luckily, no.
Ads are significant, but the retargeted ads are more significant because they direct potential buyers to your online store.
Considering most internet users block out all irrelevant ads, 26 percent as the Invesp investigation suggests is an encouraging percentage.
➤ Personalized retargeted ads can lead to a ROI of over 1,300 percent.
Retargeting can bring back qualified leads to your e-commerce store but retargeted ads give an even better outcome when personalized for users.
Personalized call-to-actions generate 202% better conversions. One way to personalize your ads is to use dynamic content to show, for example, user names or locations.
Companies like Zendesk that segment out different retargeting audience lists get ROIs of over 1300%.
For example, rather than displaying a generic retargeting ad campaign, you can promote the exact product a person added to their shopping cart before abandoning it.
➤ $18 Billion of an e-commerce store is lost just because of the cart abandonment.
Cart abandonment can be seen as a little issue, but its impact may cause a huge damages and loss.
According to the research of Forrester shared by Dynamic Yield, losing the yearly sales revenue around $18 billion is a thing that cannot be ignored.
Therefore, it is highly recommended that all businesses should make the calculations accordingly.
Your Turn to Start Preventing Revenue Loss
As you have seen from the cart abandonment stats above, the rates are considerably high.
More than half of online shoppers like a product enough to add to the cart but also find the checkout flow frustrating enough to hit the exit button and never return.
Unclear pricing, complicated checkout process, untrustworthy website, and more can be among the factors that cause these high rates of cart abandonment. But, the bright side?
It’s easily preventable with thorough optimization like site speed, exit popups, and A/B testing.
What are Some Strategies to Prevent Cart Abandonment?
There are some points that you need to consider while preventing cart abandonment:
- You should be clear about your CTAs.
- You shouldn’t demand membership checkout; instead, create a guest checkout option is useful.
- You should present a chat box and FAQs for helping the visitors.
- You should also be clear about the information you ask for. Have understandable steps to fill.
- You shouldn’t forget to offer saving the cart o remind.
- You should choose the secure payment options.
- You may show the progress of the checkout.
- You may show the chosen products to the buyers during checkout.
- You should have cart abandonment emails as a backup plan.
Is It Possible to Stop or End the Cart Abandonment?
Unfortunately, no. Since shopping is a personal preference and the choices can vary from time to time, it is not probable to end the cart abandonment process.
Instead, it is possible to minimize the cart abandonment rates based on your business and create stronger strategies.
