Online shopping has become an integral part of our lives, offering convenience and accessibility. However, not every online shopping journey reaches its intended destination – the completion of a purchase. Cart abandonment, the phenomenon where shoppers add items to their virtual carts but leave the website without completing the purchase, is a common challenge for e-commerce businesses. Understanding the intricacies of cart abandonment is crucial for businesses looking to enhance their conversion rates and optimise the customer experience.
The Numbers Speak:
To the surprise of many, cart abandonment rates can be really high, with industry averages hovering around 70-80%. This means that for every ten customers who add items to their carts, only two or three end up making a purchase. Recognising the prevalence of this issue is the first step towards addressing it.
According to our media partner Parcel Monitor, shoppers abandon their carts for various reasons. High shipping costs, unexpected fees at checkout, and a complex or lengthy checkout process are common culprits. Additionally, distractions, comparison shopping, and indecision can contribute to cart abandonment. Understanding these factors helps businesses tailor their strategies to mitigate these issues.
Check out the full article to learn everything you need to know about cart abandonment.