Chart of the Day: Black Friday and Cyber Monday Cart Abandonment Rates Jump to 68%
Cart Abandonment is the scourge of e-commerce retailers everywhere, and this year it seems to be on the increase, particularly where there are promotions. New data emerging from the two busiest ecommerce days of 2016 (Black Friday and Cyber Monday) shows extremely high cart abandonment rates across the board. These are particularly high on mobile devices, where 78% of carts are abandoned.
E-commerce retailers should be asking themselves, are 4 out of 5 people abandoning their carts because they're having second thoughts about purchasing, or is it because the checkout pages aren't properly optimized for mobile? If a customer has to use fiddly forms that are hard to complete on a Smartphone they are far more likely to abandon their cart.
It's not all bad news though. Although the cart abandonment rates are huge, many of these customers can be nudged…
Chart of the Day: What are the reasons for abandoning cart during checkout?
In our latest Chart of the Day, we look into why customers abandon at checkout.
Abandonment is a big issue for marketers and ecommerce professionals, but in addition to putting in place techniques to decrease cart abandonment it's important to understand why customers abandon carts in the first place.
The study found that most 61% abandon because the shipping or extra costs are too high.
35% abandoned because they were required to create an account and 27% abandoned due to a complicated checkout process.
Cart abandonment is a global concern, as shown by the chart below.
Source: InboxArmy
Sample: 1044 survey responses
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10 tips to create an effective Cart Recovery Programme
According to research recently released by Britain’s Retail E-mpire, the UK will become the world’s leading ecommerce exporter, with online sales generated by UK retailers from international markets expected to soar sevenfold to £28bn by 2020. However, according to our latest research, on average 84% of people who visit a site abandon their purchase before checkout, costing retailers billions in lost sales.
So what can we do about this problem? Well first of all – let’s switch it around and look at it as a fantastic opportunity rather than a problem. Opportunities are always easier to action than problems – right?
The Opportunity for retailers
So we now have a lot of potential buyers who in many case simply need a small nudge in order to complete the purchase and the good news is, that these abandoned sales are 10 times more likely to convert…
