A staggering figure brought to light by the Baymard Institute, a leader in e-commerce research, suggests that the final stages of this journey are frequently left incomplete. With an average cart abandonment rate of 70.19% in 2014, consumers abandoning their online purchases before crossing the finish line reveals a profound disconnect between initial interest and final sale.
The Baymard Institute calculated an average cart abandonment rate of 70.19% based on data collected from multiple studies. This suggests that for every 100 potential customers, approximately 70 will leave without completing their purchase.
Other sources corroborate these findings, with reports indicating that nearly 70% of e-commerce carts get abandoned, as stated by the Baymard Institute and echoed by Tidio's reference to the same research. Similarly, Geckoboard cites an average shopping cart abandonment rate of 68.81%, with a more recent study showing a rate of 74.52%. Optimizely also provides a figure, noting an average rate of 66.5%.
These statistics highlight a consistent trend across various platforms and industries: Many online shoppers add items to their carts but do not follow through with the purchase. The reasons behind this high abandonment rate are multifaceted, including unexpected costs, complicated checkout processes, and a lack of trust in the website.
FAQ on Shopping Cart Abandonment Rate
Q: What is the shopping cart abandonment rate?
A: The shopping cart abandonment rate is the percentage of online shoppers who add items to their virtual shopping cart but exit without completing the purchase. It's calculated by dividing the total number of completed transactions by the total number of shopping carts created, subtracting the result from one, and multiplying by 100.
Q: What is considered a high cart abandonment rate?
A: A high cart abandonment rate is typically above the average range of 56% to 81%. If only three out of ten customers who fill their carts complete the purchase, it indicates a cart abandonment rate of around 70%, which is considered high.
Q: What causes high shopping cart abandonment rates?
A: Common causes include unexpected shipping costs, mandatory account creation, long or confusing checkout processes, lack of discounts or promo codes, unexpected additional costs (like taxes and fees), and concerns about payment security.
Q: How can I calculate my site's cart abandonment rate?
A: To calculate your cart abandonment rate, divide the total number of completed purchases by the number of shopping carts created. Subtract this number from one and multiply by 100 to get the percentage.
Q: What is a good abandoned cart recovery rate?
A: A good abandoned cart recovery rate is above 10%. If you're reclaiming more than 10% of sales from abandoned carts, you're doing well.
Q: How can I reduce my shopping cart abandonment rate?
A: You can reduce your shopping cart abandonment rate by sending abandoned cart emails, offering incentives like free shipping, simplifying the checkout process, providing multiple payment options, being upfront about total costs, and ensuring a secure payment environment.
Q: Are there any strategies to improve conversions from abandoned carts?
A: Yes, strategies to improve conversions include optimizing the checkout experience, offering various payment methods, addressing technical issues on the website, building trust with security badges and customer reviews, and retargeting ads to re-engage customers.
Q: Why do some customers abandon their shopping carts even if they are interested in the products?
A: Customers may abandon their carts because they are just browsing, are not ready to buy, are deterred by extra costs, or encounter a poor user experience or technical errors on the website.
Q: Can cart abandonment be an indicator of other issues?
A: Yes, a high cart abandonment rate can indicate problems with the product, brand perception, customer experience, user experience, competitive positioning, or issues within the e-commerce funnel.
Q: What should I do if I notice a high cart abandonment rate on my ecommerce site?
A: Investigate the possible reasons behind the high abandonment rate by analyzing user behavior, surveying customers, and reviewing the checkout process. Based on your findings, implement changes to address the issues causing customers to abandon their carts.
