Marketing places a high emphasis on consumer engagement and consumer base expansion. However, an engaged consumer is not always guaranteed to buy. The phenomenon of a customer simply deciding to leave an e-commerce transaction has come to be referred to as shopping cart abandonment. The percentage of abandoned carts ranges anywhere from 50% to 80%. Here are more surprising shopping cart abandonment statistics from a ReadyCloud report.
- It’s costing a lot of money: Abandonment costs e-marketers about 2 to 4 trillion per year. Given the large economic impact, shopping cart abandonment solutions are becoming a priority for e-commerce marketers.
- It will get worse: Experts agree that shopping cart abandonment is on the rise.
- Evenings are the worst: Studies show that abandonment is most common between 6 and 9 pm.
- Most leave due to extra costs: 61% reported leaving a transaction due to an extra cost such as shipping fees.
- Forced accounts are a problem: 35% of transactions were dropped because the website required the user to create an account before checkout.
- Complications lose carts: 27% of carts were dropped because the checkout process was too complex or because the site was slow.
- Slow is a no-go: A slow website can increase abandonment by 75%, and loyalty drops 50% when your site is slow.
- No one likes high shipping rates: 55% of consumers leave a transaction when presented with an extra shipping cost.
- Security is key: Most people like to feel safe, especially given the myriad of risks on the internet. In fact, 35% of individuals will abandon a site if it does not appear to have a security badge.
- Return difficulties: E-commerce brings a level of complication to the returns process. However, some return policies can make things even more complicated. Unfortunately, complex returns are not popular with shoppers. 80% of shoppers will not make a purchase unless there is a hassle-free return policy.
- Cost is a major issue: 25% of shoppers abandon a cart because the item or the total cost is too much.
- Abandonment affects conversions: Cart abandonment can leave a major gap in conversions. For instance, a 65% cart abandonment trend leaves a 97.9% gap in conversions.
- Some shoppers aren’t really shopping: Nearly 40% of surveyed consumers responded that they abandoned their shopping cart because they had been just browsing in the first place.
Abandonment by Sector (Smart Insights, 2017):
- Finance abandonment is the worst: Finance is one of the most fluid market sectors, but it also suffers from an 83.6% cart abandonment rate.
- Charity abandonment: After finance, abandonments within the non-profit sector are the highest at 83.1%.
- Travel is often abandoned: Statistics show that travel carts are abandoned 81.7% of the time, which is the highest abandonment rate after finance and non-profit sectors.
- The retail sector is at high risk: 72.8% of abandoned carts occur in retail.
- Fashion can get rough: While not as bad when compared to other market sectors, fashion e-commerce carts see a 68.3% abandonment rate.
- Gaming is actually safest: Gaming sees an abandonment rate of 64.2%.
Around the World
- The global cart abandonment rate is 75.52%.
- Asia and the Pacific Islands have the top abandonment rates: APAC countries, including Japan, have the highest rate of cart abandonment at 76.3%.
- Next is the Middle East: Middle Eastern countries fall just behind APAC with an abandonment rate of 76.1%.
- Latin America has the third highest cart abandonment rates: Latin America has a cart abandonment rate of 75.3%, which is the third highest after APAC and the Middle East.
- 74% of North American shoppers abandon their carts: The U.S. and Canada have some of the lowest cart abandonment numbers.
- Europeans have the lowest rate of cart abandonment: European e-commerce sites have a 70.9% rate, which is actually the lowest in the world.
By Device (Barilliance, 2018):
- Cell phones: Mobile shopping carts are the most likely to be abandoned, with an 85.65% ditch rate.
- Tablets: Tablet users have an abandonment rate of 80.74%, only slightly lower than those experienced on cell phones.
- Desktops are most reliable: About 73% of desktop customers abandon their carts. While the number seems high, it is still considerably lower when compared to mobile and table transaction averages.
About Abandonment Recovery:
- Emails may be opened: About 45% of emails sent to follow up on an abandoned cart are opened by consumers.
- Some follow up emails bring customers back to the site: 21% of the opened follow-up emails are clicked on.
- Emails help conversion: 10.7% of individuals that receive emails return to make a purchase.
With high rates of abandonment, e-commerce cart retention should be a priority.