Shopping cart abandonment is still a plague in e-commerce
I can say from experience that it’s incredibly frustrating to successfully move a shopper through the sales funnel and create offers that are enticing enough to pique their interest, only to inevitably lose them at the point of purchase.
It’s incredibly frustrating.
And that’s why I’m writing this post.
In it, I’ll cover a wide range of cart abandonment statistics to paint a clear picture of the reasons why shoppers fail to complete their purchases and shed light on how to correct common issues.
That way you can avoid making unnecessary mistakes, create a friction-free customer experience and increase conversions.
1. The Average Cart Abandonment Rate Across All Industries is 69.57 Percent
Google “shopping cart abandonment rate,” and you’ll find data from a ton of different studies.
I’ve seen rates as low as 56 percent and as high as 81 percent.
However, I think recent data from the Baymard Institute paints the most accurate picture.
They calculated data from 41 different studies and found that the average cart abandonment rate is just under 70 percent.
Imagine for a moment that you are shopping at the supermarket. You put items in your cart and go to the checkout to pay. Just before you pay, the cashier asks you to create an account or to fill out a form before paying.
It would be crazy if 7 out of 10 people put their items back on the shelf. And yet this is exactly what happens in e-commerce.
2. Mobile Users Have an Even Higher Abandonment Rate of 85.65 Percent
“The smaller the size of the screen, the more likely a customer is to not purchase,” says Barilliance. “This is problematic considering that for the first time ever, more digital buyers will use smartphones than desktops to shop.”
This shows the importance of fully optimizing your e-commerce store for mobile users, which can be done with the following techniques:
- Increasing mobile site speed;
- Trimming down your copy to only include essential information;
- Using “mobile accordions” to effectively organize information; and
- Keeping critical elements above the fold.
I also recommend getting in the habit of performing routine A/B testing so that you continually fine-tune the mobile experience and make it as seamless as possible.
3. E-Commerce Brands Lose $18 Billion in Sales Revenue Each Year Because of Cart Abandonment
In terms of impact on revenue, it’s quite severe at $18 billion annually.
And as content strategy writer, Meir Fox explains, "With $4 trillion worth of merchandise predicted to be abandoned in digital carts next year alone, cart abandonment has become a burning issue that e-commerce organizations can no longer afford to ignore."
So it’s an issue that demands top priority.
4. Checkout Optimization Can Increase Conversions by 35.62 Percent
The good news is that e-commerce brands aren’t doomed to suffer at the hands of cart abandonment.
Experts estimate that conversions can be increased by a whopping 35.62 percent by implementing the right checkout optimization strategy.
While reaching this number isn’t easy, it’s certainly possible.
5.Extra Costs are the Number One Reason Why Shoppers Abandon
The Baymard Institute also performed some in-depth research to determine what triggers cart abandonment.
While there are several different factors, extra costs like shipping, taxes, and fees were hands down the biggest dealbreaker.
Fifty-five percent of survey respondents cited this as being the reason why they abandon.
This statistic also shows that you should heavily consider offering free or at least discounted shipping.
6. Being Forced to Create an Account is the Number Two Reason People Abandon
“The site wanted me to create an account” also factored in heavily to cart abandonment, with 34 percent of respondents saying they abandoned for this reason.
I don’t know about you, but I hate having to go through the redundant process of creating an account, especially if I only plan on making a one-time order.
And apparently, over a third of e-commerce shoppers feel the same.
7. 57 Percent of Shoppers Will Abandon if They Have to Wait Three Seconds for a Page to Load
I probably don’t need to tell you that most digital shoppers are a little impatient these days.
But this statistic shows you exactly how long you have before the majority of could-be customers leave your site.
And what’s even scarier is that 80 percent of these customers will never return.
Once they know your site is sluggish, most will avoid it like the plague.
So you need to put a lot of effort into improving site speed and go the extra mile to keep load time under three seconds for all pages.
8.The Average Checkout Flow Has 23.48 Form Elements and 14.88 Form Fields
Shopping cart complexity and duration are two other critical factors that determine the likelihood of someone completing a purchase.
The Baymard Institute found that having too long or too complicated of a checkout process is the reason why over a quarter (26 percent) of shoppers abandon.
Separate research from the Baymard Institute found that on average, e-commerce stores had 23.48 form elements and 14.88 form fields for new non-account customers.
But experts say this is too many and creates points of friction during checkout.
“During testing, we consistently observe that users are overwhelmed and intimidated when seeing a high amount of form fields and selections,” The Baymard Institute explains.
9. 55 Percent of Shoppers Will Abandon if They Have to Re-Enter Their Credit Card or Shipping Information
Piggybacking off of my last point, this statistic shows that any major redundancy in the checkout process negatively impacts conversions as well.
Statista found that 30 percent of shoppers will leave if they have to re-enter their credit card information, and 25 percent will leave if they have to re-enter their shipping information.
10.46 Percent of Shoppers Abandon Because a Discount Code Doesn’t Work
The overwhelming majority of consumers use coupons at 90 percent.
And 75 percent now expect brands to offer them.
This is no doubt an effective way to drum up new business and instill loyalty in existing customers.
When everything goes smoothly, offering discount codes can increase conversions.
However, when shoppers run into issues where a discount code doesn’t work, nearly half (46 percent) will abandon their cart.
The point here is that offering promo codes is a good idea. But you need to be diligent in ensuring that everything works correctly. Otherwise, it’s going to create a lot of friction that will take a toll on conversions.
11.39 Percent of Mobile Users Abandoned Because of Difficulty Entering Their Personal Information
One other issue that leads to nearly four out of 10 mobile users ditching their cart is trouble inputting their information during checkout.
This is primarily due to small buttons and an excessive number of form fields, which I mentioned before.
To resolve this issue, you’ll want:
- A mobile-responsive design for your e-commerce store;
- To use large buttons that can be easily tapped without accidentally hitting another element; and
- To keep forms short and sweet.
- To implement a 1-click checkout solution
I find the average cart abandonment rate to be alarmingly high. To think that seven out of every 10 shoppers will ditch their cart is unsettling and shows that e-commerce store owners have their work cut of them.
But it’s certainly an issue that can be corrected. These cart abandonment statistics show some of the most common reasons why shoppers abandon and the specific areas brands need to focus on.
Addressing these key points should help you reduce your cart abandonment rate and redirect a good portion of shoppers that don’t initially complete their purchase.
So in the long run, you can create a better customer experience, boost conversions and build stronger brand loyalty.