Shopping Cart Abandonment — when shoppers put items in their website shopping cart, but then leave before completing the purchase.
Shopping cart abandonment is a problem common to many eCommerce stores.
Many traditional store retailers once believed that the market share of the consumer industry was shifting towards online channels. This belief that shopping online will eventually wipe out traditional retailers is simply not true.
Question: When was the last time you went into a traditional store, filled your cart then decided to leave?
Some stats to make you feel better if your eComm Website is taking at the cart
1. 90% of leads go cold after an hour
2. Retailers lose $18 billion annually due to shopping cart abandonment
3. Most cart abandonment happens between 8-9pm
4. Most people abandon carts on Thursdays
5. 71% of organic site traffic comes from Google
6. 93% of online buyers are encouraged to buy more products if free shipping is included
Why do shoppers abandon their carts? the top reasons are:
1. Shipping costs are higher than expected or purchase did not qualify for free shipping
2. Customers are not ready for purchase, only researching costs
3. Customers are saving items for later
4. Estimated shipping time was too long
5. Customers are forced to create an account with retailer
6. Preferred payment option was not available
The first step to recovering abandoned shopping carts is to discover the reasons that your customers abandoned their carts in the first place. The infographic below lists 8 common reasons for shopping cart abandonment.
There are many ways to nurture leads and encourage them to complete their transaction. To get in touch with an eCommerce expert contact COG Digital, the Sydney eCommerce experts today in their Sydney digital studio and get some solutions to your Shopping Cart Abandonment.