The 'Shopping Cart Abandonment' infographic details how many people have clicked away and added items to their wishlist or online cart, but never followed through on actually buying any of it.
According to the data compiled by the website optimization company Invesp, the abandonment rate of online items saved to purchase later is 65.23 per cent. This means 65 times out of 100, the shopper does not complete a transaction despite clearly being interested in items on the site.
The two most prominent reasons for this occurrence are cited as the high shipping costs of the item or the fact that the shopper simply wanted to keep the product in mind for later. In effect, this shows that a majority of web consumers still take part in window shopping -- even in an online setting.
Online Purchase Retraction Stats
The 'Shopping Cart Abandonment' Infographic Discusses Web Habits
Trend Themes
1. Personalized Discounts - Targeted discounts for frequent abandoned cart users could encourage purchases and increase customer loyalty.
2. Improving Checkout Experience - Streamlining the checkout process and including transparent shipping costs could reduce cart abandonment rates.
3. Retargeted Ad Campaigns - Retargeted ads on social media or search engines could remind consumers of their abandoned carts and encourage purchases.
Industry Implications
1. E-commerce - E-commerce companies could benefit from the implementation of personalized discounts and improved checkout processes to increase sales and customer retention.
2. Marketing - Marketing firms could explore retargeting ad campaigns as a strategy to boost sales for e-commerce clients and increase conversions.
3. Logistics - Logistics companies could work with e-commerce retailers to optimize their shipping processes and offer competitive shipping rates to reduce cart abandonment rates.