Cart Abandonment Statistics Abound – These Tips Can Help Your Sales.
There’s a myriad of cart abandonment statistics out there. Here’s a few that, by analyzing and taking certain actions, can help to reduce shopping cart abandonment and lift sales.
Cart Abandonment Statistics
Shopping Cart Abandonment – Overall and by Industry
SaleCycle’s 2018 Q1 Remarketing Report looked at 500 leading, worldwide brands and found a 75.6% cart abandonment rate. Here’s the report’s breakdown by industry:
Timing is Everything
Another interesting SaleCycle statistic, that can help with your email remarketing efforts (see more on this in Cart Abandonment Solutions), shows that emails sent one hour after someone has abandoned their cart had the best conversion rate:
- Emails sent less than an hour after abandonment converted at 3.4%
- Emails sent one hour after abandonment converted at 6.3%
- Emails sent 1-2 hours after abandonment converted at 3.4%
- Emails sent 4-24 hours after abandonment converted at 2.4%
- After 24 hours, the conversion rate dropped to 1.7%
What Devices Do Your Customers Use?
Look at your analytics to see how people are opening your emails, accessing and buying from your website.
The e-commerce CRM experts at ReadyCloud conducted a Cart Abandonment Rates by Device study that showed mobile topped the list:
- Mobile = 81%
- Tablets = 71%
- Desktop = 61%
While mobile shopping, with all its fields and required information, is tedious mobile site developers are building more user-friendly sites and mcommerce is gaining traction.
Global mcommerce sales rose 40.3% in 2017 to reach $1.3 trillion (see more ecommerce and mcommerce figures in Cart Abandonment – Recapture Lost Customers.)
Like we previously mentioned in this guide, it’s crucial to have a mobile site that is easy to navigate and make purchases from.
Mobile Marketer points out how “online retailer Luxmart doubled its mobile conversion rate to 1.24% from 0.6% after introducing a progressive web app (PWA), a technology that delivers app-like experiences to mobile internet users, according to an announcement.”
Launched in early September, the PWA helped to speed up download times on mobile devices and on a few days this month Luxmart has seen “conversion rates as high as 3.1%, more than five times higher than before the PWA was deployed.”
Speed Rules
Another reason shoppers abandon their carts is a slow website. ReadyCloud also reported that “a slow website can result in abandonment rates as high as 75%”.
ReadyCloud’s research shows (see graph below) the highest conversion rates happen when your website loads in two seconds or less:
Run diagnostics tests regularly. If your checkout and website runs slowly make it a priority with your IT department to speed things up. Also, consider:
- Analyzing your site’s hosting plan. Your ISP could be throttling your speed if you’ve exceeded your bandwidth.
- Finding a new host or upgrade your current plan to speed up your website.
- Looking at your store host and shopping cart analytics. If something looks wrong and you’re not getting satisfactory answers, consider changing to a new store host or shopping cart.
Provide a Discount
Digital marketing company ClickZ points out how, from an online shopping poll, consumers are always looking for a deal:
- 54 percent said a discount would motivate them to return (to their abandoned cart) and complete the purchase
- Millennial shoppers (aged 25 to 34) were even more motivated by discounts and 72 percent said they would make a purchase if a discount were offered
Yes, profit margins are crucial. But you can run a test to see if sales increase during the discount period and analyze how it affects customers returning to their carts and overall revenue.
Quick Links: Other Related Posts
- Cart Abandonment – Recapture Lost Customers
- Shopping Cart Abandonment Reasons
- Cart Abandonment Solutions
Take 5 Media Group – Online Marketing & Audience-Building Experts
Since our founding in 2003, Take 5 has been one of the nation’s leading compilers of consumer information. We’re experts at building highly-targeted audiences based on purchase intent, demographics, lifestyle changes and more.
We then use our digital marketing channels – display ad and social media retargeting, Web Interceptor™, content marketing, email, geo-fencing and others – to get your message to those audiences.
To find out more, call Take 5 Media Group, Boca Raton, Florida, 561-819-5555, New York at 917-201-7451, or visit our website at Take5mg.com.