In our latest infographic, we take you through some ways you can reduce cart abandonment on your ecommerce website. While brick and mortar stores don’t really have to deal with cart abandonment, it is one of the top issues for online retailers. Combatting your cart abandonment rate is an ongoing battle but a worthwhile one, as it is a highly effective way of boosting your conversion rate and profits.
What is an Abandoned Cart?
Cart abandonment refers to when an online shopper adds an item to their cart but doesn’t proceed to the checkout to complete their transaction.
What is A Cart Abandonment Rate?
An e-commerce website’s cart abandonment rate refers to the percentage of users who do not complete a transaction. This figure is calculated by dividing the total number of completed purchases by the total number of initiated transactions.
Why Should You Measure Cart Abandonment?
It’s important for online retailers to measure and track cart abandonment rate for several reasons. Basket abandonments are a useful indicator of customer experience. If you have made any significant changes to your website, the cart abandonment rate can help you determine whether or not the changes have had a positive or negative affect on conversions. For example, a high rate could indicate problems such as poor checkout design or a lengthy transaction process.
What is the Average Cart Abandonment Rate?
Studies indicate that the average cart abandonment rate is on the increase, rising from 68.63% in 2016 to 78.65% in 2017. This can vary by device as well, with desktop users slightly more likely to compete a transaction than customers using a mobile or tablet.
Why Do Customers Abandon Shopping Carts?
Surveys reveal that there are many reasons why customers abandon their carts. The most common reason is that the user was merely browsing and never had any intention to buy. Many customers also drop out of the process due to an issue with shipping or because of a lack of payment options. Another reason may be that the customer is merely comparing prices and wants to see how much shipping would add to the overall cost.
How To Reduce Cart Abandonment
If you are concerned about your shopping cart abandonment rate, then you may want to take a look at the infographic below which offers some practical pointers on how to tackle this issue. It offers a neat outline of steps you can take to incentivise shoppers to go to the checkout and also lays out some handy email marketing hacks.
Read the infographic below to learn more.