The idea that 70% of online consumers engage with your site to the point where they are about to check out and abandon it is nerve-wracking. Abandoned cart is a serious issue for many eCommerce websites
The Baymard Institute, an eCommerce usability think tank, has aggregated cart abandonment
data from various industry sources over the last nine years. Bad news: Despite significant technological advancements and eCommerce
user experience design, the average cart abandonment rate has remained constant.
An “abandoned cart” is when shoppers add your products to their online shopping cart, leaving your site before purchasing.
When a user adds a product to the online shopping cart of an e-commerce site but doesn’t proceed to checkout and complete the purchase. Users may abandon because they aren’t ready to buy. Instead, they use their cart as a “wish list” as they shop around and compare prices.
80.68% of retail shoppers abandon purchases after adding items to their cart. 34% of shoppers leave checkout because they are forced to create an account. 23% of shoppers abandoned carts due to shipping issues.
18% of shoppers abandon carts because they want to compare prices.
If your cart abandonment rate is high, many customers begin their purchase process but do not go through. The abandoned items are potential revenue you are not obtaining as the transactions are not completed, which impedes your goal of maximizing profit.
Abandoned cart emails work to recover lost sales