So what percentage of online shoppers abandon their shopping carts?
Based on data we’ve gathered from various studies, we’ve calculated an average shopping cart abandonment rate is 75.45% . This average abandonment rate comes from 10 different studies in the last 10 years.
Shopping Cart Abandonment Rate Study, Report List:
68.70% Fresh Relevance 2022
81.08% SalesCycle 2021
84.27% SaleCycle 2020
77.13% Barilliance 2019
75.60% SaleCycle 2018
76.90% SaleCycle 2017
75.50% Adobe 2016
68.95% IBM 2015
68.38% IBM 2014
78.00% AbandonAid 2013
Shopping Cart Abandonment Revenue Lost
Shopping cart abandonment represents a substantial revenue loss for eCommerce brands, with figures approximating a staggering $18 billion annually, according to research by Forrester.
This crucial issue elucidates the dichotomy between consumers initiating the purchasing process and finalizing transactions, underscoring the urgency for eCommerce retailers to innovate strategies aimed at reducing this substantial revenue leakage and enhancing the overall online shopping experience.
Cart Abandonment Rate By Industry
|No.||Industry||Abandonment Rate||Possible Reasons|
|1.||Fashion and Clothing||68.3%||Due to a plethora of styles, designs, colors, and variations in sizes across brands, customers are more likely to abandon items.|
|2.||Travel Bookings||81.7%||The complex process of planning and organizing travel leads to high abandonment rates due to its complexity and time requirements.|
|3.||Finance||83.6%||The complexity of financial products, necessity for personal details, and the time taken to complete forms contribute to high abandonment.|
|4.||Gaming||64.2%||Despite the relative ease of digital purchases and universal sizing, game selections still face abandonment, albeit less than other industries.|
|5.||Retail||72.8%||Although retail products are generally low-cost and require little research, browsing without the intent to buy contributes to the abandonment rate.|
|6.||Non-Profit||83.1%||Non-profit supporters are more discerning, requiring in-depth research before committing. This contributes to higher cart abandonment rates.|
What is the most common reason for cart abandonment?
Here is a list of the most prevalent reasons for cart abandonment:
- Unexpected High Costs: Additional costs like shipping, taxes, and other fees often lead to cart abandonment due to the unexpected increase in the total cost.
- Complicated Checkout Process: A convoluted, time-consuming checkout process can deter customers, prompting cart abandonment.
- Payment Security Concerns: Despite its relatively lower probability rating, apprehension regarding payment security still contributes to cart abandonment.
- Lack of Trust: Customers uncomfortable with sharing credit card details online often abandon their carts, highlighting the need for enhanced online security measures.
- High Shipping Costs: Unexpected high shipping fees often discourage potential buyers, causing them to abandon their purchases.
- Mandatory Account Creation: The obligation to create an account before finalizing a purchase can cause potential customers to abandon their carts.
- Security Concerns: Concerns over the safety of personal information also contribute to cart abandonment rates.
To mitigate cart abandonment, retailers should consider strategies like offering free shipping, streamlining the checkout process, assuring payment security, and employing abandoned cart recovery tools.
8 Ways to Decrease Your Shopping Cart Abandonment Rate
|1.||User-friendly Site Design||Optimize your website design to provide seamless navigation and a smooth checkout process.||Enhances user experience, potentially reducing the rate of cart abandonment.|
|2.||Transparent Pricing||Be upfront about all costs, including shipping and taxes, to prevent surprising customers at the checkout stage.||Builds customer trust, potentially leading to fewer abandoned carts.|
|3.||Multiple Payment Options||Offer a wide variety of payment methods to cater to different customer preferences.||Increases customer convenience, likely reducing abandonment rates.|
|4.||Guest Checkout Option||Allow customers to make purchases without creating an account to avoid deterring those who prefer a quicker transaction.||Can significantly reduce the friction that leads to cart abandonment.|
|5.||Security Assurance||Display security badges to assure customers their personal and financial information is safe.||Enhances customer trust, which can lead to lower abandonment rates.|
|6.||Cart Abandonment Emails||Send personalized reminders to customers who’ve left items in their cart to encourage them to complete their purchase.||Can effectively lure back customers to their abandoned carts, leading to completed purchases.|
|7.||Free Shipping||Offer free shipping if feasible, as high shipping costs are a common reason for cart abandonment.||May substantially decrease abandonment by addressing a common customer concern.|
|8.||Streamlined Checkout Process||Minimize the number of steps in the checkout process to reduce friction and increase conversion rates.||Directly impacts the ease of transaction, potentially leading to fewer abandoned carts.|