40+ Shocking Shopping Cart Abandonment Statistics In 2020


Today in this post I am going to present you the cart abandonment statistics.

Cart abandonment is the major issue that is decreasing the revenue of eCommerce sites.

Is this the same problem you are facing with your eCommerce site?

If so, look at these shopping cart abandonment stats and plan your strategies accordingly to minimize the cart abandonment rates.

What is cart abandonment? Cart abandonment refers to the abandonment that happens when the visitors add the products to their shopping cart but leave the cart without making a purchase.

Editor’s picks:

  1. 69.57% is the average cart abandonment rate across all the industries.
  2. The number one reason for cart abandonment is extra costs like the shipping fee, tax, etc.
  3. Long checkout forms lead to 21% cart abandonments
  4. Mobile has the highest cart abandonment rate of 85.65%.
  5. The sales revenue of $18 Billion for eCommerce sites is being lost due to cart abandonment
  6. 8 pm-10 pm and 6 pm-8 pm are the peak times when the majority of the shoppers abandon the cart.

Cart abandonment rate statistics

General cart abandonment stats

  • 69.57% is the average cart abandonment rate across all the industries.
  • Well used checkout optimization strategies increase your conversions by 35.62%.
  • The number one reason for cart abandonment is extra costs like shipping fees, tax, etc.
  • If your page takes 3 seconds to load, this will result in 57% of the customers to abandon the site and 80% of them will never return. So page load speed is the main conversion and also SEO aspect you need to consider.
  • 92.6% of the people agreed that the visuals are the top factors that affect the purchasing decision.
  • Including the product images and offering multiple offers leads to 58% more sales.
  • People aged 25-44 years abandon the cart more compared to other age groups.
  • PayPal is the most used gateway for performing the checkout and it leads to 60% of the total transactions.
  • Retargeted Ads help the sites get 26% of the shoppers back.

Online shopping cart abandonment rate worldwide

Online shopping cart abandonment rate worldwide

If you look at the shopping cart abandonment rates worldwide, it is increasing a bit year by year.

To minimize the cart abandonment rates you need to refine your marketing strategies.

The abandonment rate was 59.8% in 2006 and 61.36% in 2007. In 2012 it raised to 71.98%.

The cart abandonment rate was 69% on average in the previous years.

Reasons for shopping cart abandonments

Reasons for shopping cart abandonments

As per the research done by Baymard, 50% of the cart abandonments happen due to extra costs like shipping costs, tax, or fees.

When the sites ask its users to create an account to complete the checkout, it will lead to 28% of cart abandonments.

The complicated or long checkout forms lead to 21% abandonments. If you want to have more conversions keep as few fields as possible.

It is good to have various payment methods because 6% of cart abandonment is due to not having enough payment methods.

Cart abandonment rate statistics by device

Cart abandonment rate statistics by device

Today, most of the traffic i.e. 50.48% traffic for the eCommerce sites comes from mobile users.

But the sad thing is the mobile has the highest cart abandonment rate of 85.65%. So keep mobile responsiveness in mind and you need to take care while optimizing the checkout pages for mobile devices.

While the desktop has 73.07% average shopping cart abandonment rate and tablet has an 85.65% average shopping cart abandonment rate.

Cart abandonment email stats

Cart abandonment emails have got a good open rate.

Cart abandonment emails open rate

In 2016 the open rate of cart abandonment emails was 43.82%, in 2017 it was 45.56%. In 2019 it was 43.21%.

If you send highly personalized cart abandonment emails then you are sure to have good conversions.

Cart abandonment email open rates by sector:

The cart abandonment emails of the travel industry have the highest email open rate of 49.3%, followed by the fashion industry 44.1%.

The retail industry has an email open rate of 41.1%.

Cart abandonment email conversion rates by sector:

  1. 18.64% is the average conversion rate for shopping cart abandonment emails
  2. 10.7% of the cart abandonment emails recovered the lost transaction.
  3. Cart abandonment emails have got over 21% of the click-through rate.
  4. On average, 45% of the cart abandonment emails are opened.

Why people abandon shopping carts?

Why people abandon shopping carts

The data from SaleCycle reveals that 34% of the visitors complete the checkout just for looking out while 15% abandon the cart to buy in-store. 6% abandonment due to the lack of payment options.

While 18% of the shoppers visit the store just to compare the prices. 4% abandon the site due to technical errors in the site.

Other types of shopping cart abandonment

Online finance abandonment

Signicat conducted a survey to study the finance abandonments and it was found that 56% of the respondents have abandoned the application.

Reasons for financial cart abandonment

The reasons for the abandonment are:

  1. 40% of the respondents said that the amount of the personal information requested made them abandon.
  2. 34% have abandoned due to the length of the time it took to fill the checkout form. 18% gave the reason that the language was confusing for them.

Form abandonment

Form abandonment happens when a visitor starts filling the form and he leaves the site without filling it completely.

When they find friction while filling the form, they abandon. To reduce the form abandonment rate, keep the form fields minimum and keep the forms visually attractive.

Browser abandonment

This refers to the visitors leaving the site without adding products to the cart even after viewing the products, seeing the prices, and comparing multiple products.

SaleCycle data shows that on retail sites, 43.8% visitors browse the site but they won’t add any of the items to their cart or make a purchase.

Sources:

Conclusion

These shopping cart abandonment statistics give you an idea of how you can improve on getting more sales by using the relevant conversion rate optimization strategies on your site.

Also, it is advisable to work on improving the page load speed as the slow load time makes visitors quit your site and you will permanently lose them.

I hope these shopping cart abandonment stats helped you gain insight into minimizing the cart abandonment rates.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *