By MICHAEL S
The Shocking Truth and How To Solve It
I should start from the basics like „What is cart abandonment?” but I know that a lot of the readers are probably perfectly aware what does it mean.
So for the old-timer eCommerce people, I would recommend jumping straight to the section where I speak about the stats!
But the more beginners should keep reading from here:
Cart abandonment is a term that describes the case of an incomplete purchase in an online habitat. It refers to potential eCommerce store customers who add products to their carts and drop out before they complete the checkout process.
Basically, people who almost buy a product but at the end, they don’t.
But the fact, that they went through the process of looking a product in a webshop, adding it to cart, and starting the checkout process, shows that these people are highly interested.
Which means that it would be a really bad decision to let them leave forever! But I will elaborate on that later.
Now comes the great question that everybody wants to know…
How many people leaving their shopping cart exactly?
The crucial answer is, from every 100 potential customers, who are adding something to cart, 70 will leave! (The exact number is 69,89% which is the average of 40 different studies containing statistics on eCommerce shopping cart abandonment.) (UPDATED 2019 Sept. 10. – Now it’s 69,57%.)
That’s a freaking lot of people!
But why these people are leaving?
There are many reasons for it but the main ones are usually the following:
– extra costs like too high shipping, tax, etc.
– too long / complicated checkout process
– window shopping
– price comparison
– saving an item for later
– something disturbs them
– the dog is barking
…
And I could go on but I think you get it now, there are a hella lot of motive why somebody would leave it.
Cart abandonment is one of the biggest challenges that online retailers are facing nowadays, with almost three-quarters of customers literally just walking away.
Is there any solution?
Of course, there is! (As always!)
E-shops needs marketing automation, every online business is craving automated, personalized marketing that is generated effortlessly!
How?
Abandoned cart emails.
This type of eCommerce email is one of the most effective, revenue-boosting emails you can send to prospects.
BigCommerce researched abandoned cart emails and found that the average revenue per email is $5.64, compared to only $0.02 for basic promotional emails, and $0.18 per welcome emails you send.
More than 40% of cart abandonment emails are opened.
50% of these are clicked on.
50% of the users who clicked purchased.
You can do the math!
(In case if you don’t have a calculator by your hand the result is an 8-10% conversion rate.)