Cart abandonment and sales rates for 2016

Shopping cart abandonment is a hot topic now among ecommerce retailers. The potential lost revenue is huge. According to the most recent BI report (Shopping Cart Abandonment – November 2016), approximately $2.75 trillion of recoverable sales were left behind in shopping carts in the past year. Ecommerce is also changing now that people are shopping on mobile as well as desktop. I decided to analyze our clothing retail customer data to see what percentage of sales were mobile versus desktop, and what percentage of abandonments were mobile versus desktop. These numbers can also help to target the websites’ audience properly.

Of our online fashion retailers the last 3 months:

      45% of sales were on mobile

      55% of sales were on desktop

      58% of abandonments were on mobile

      42% of abandonments were on desktop

Mobile traffic and sales is on the rise. The rise in mobile usage is also creating a rise in abandonments.  This means that abandonment emails and email me my cart tools are more important than ever. People will convert on desktop after sending their cart from mobile. Ecommerce retailers need to make sure their sites are mobile friendly and their carts are mobile friendly.

According to BI Intelligence’s latest article (Shopping Cart Abandonment – November 2016),  the top reasons for abandonment are:

      Shipping costs, taxes or other fees that are added at checkout. (61%)

      Site requesting that an account be created in order to check out (35%)

      Checkout takes too long, or is too complicated (27%)

      Couldn’t calculate the order cost up front (24%)

The average abandonment rate that the AbandonAid platform measured for 2016 was a whopping 81.42%! That is a huge amount of potential revenue lost to abandonments. Creating a mobile friendly site, using email me my cart, and avoiding surprise fees at checkout by making shipping included can help curb this high abandonment rate.

By | 2017-06-01T16:03:26+00:00 June 1st, 2017|Uncategorized|Comments Off on Cart abandonment and sales rates for 2016