Shopping Cart Abandonment: 5 Ways Retailers Can Reduce It

Posted by ajayprasad under Marketing
From http://blog.gmrwebteam.com 3340 days ago
Made Hot by: deanuk on October 3, 2015 9:39 am

Statistics from different e-commerce companies and credible research organizations show that shopping cart abandonment rate fluctuates between 59% and 75%. Think about it, e-commerce companies are losing around 59% to 75% of customers by failing to make them convert. A report by Baymard.com showing the shopping cart abandonment rate compiled by over 30 companies — puts the average rate at 68.53%.

While online shopping has made huge strides recently, customers desire a lot from online merchants. For e-commerce companies to achieve their target sales numbers, there is a need to understand the causes of shopping cart abandonment, and how to fix them.

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Comments

Written by lyceum
3335 days ago

Ajay: OK, good to hear that! ;)

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Written by lyceum
3335 days ago

Ajay: Thanks for your input! Could retargeted marketing be a solution to this?

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Written by ajayprasad
3335 days ago

Obviously, it is one of the potent solutions to this issue targeting all those shoppers who left the store due to reasons like high pricing, bad usability etc.

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Written by lyceum
3336 days ago

Couldn't be that you skip the final check-out stage, due to the fact that you only want to see the total price for product, including shipping & handling? It could be competitors checking out the shopping experience. It could be a private person, wanting to get a new offer, by doing this routine?

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Written by ajayprasad
3335 days ago

I agree with your point here. This is where Behavioral analytics comes to play. A/c to a study conducted by Seewhy [now Hybris] in 2013, it was found that people don't intend to buy on their first visit to an online store [they were browsing] and it was about 99% of the time. However, 75% of the customers actually wanted to buy but left because of several reasons. The study also revealed that 72% of visitors will buy within the first 12-24 hours. For such users, tactics such as email marketing, comparison product display are used.

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Written by lyceum
3338 days ago

Is shopping cart abandonment between 59% and 75% for small business companies too? So, more than half to 3/4 of the visitors, are leaving the shop, without buying?

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Written by ajayprasad
3336 days ago

It is not about big or small in my opinion, although the study by Baymard was done on major ecommerce companies. It is all about user experience and if you are giving the users an easy checkout process, they won't leave the cart and are likely to complete the checkout process. So, for any ecommerce website, one of major issues is usability which they need to tackle.

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