What is an abandoned cart? An abandoned cart is simply a term in e-commerce referring to what happens when prospective buyers fail to complete an online purchase, thereby abandoning the items they’ve already put in their e-cart. Essentially, the rate of cart abandonment is the percentage of buyers who place products in the shopping cart but don’t complete the check-out process.
Despite all the tools the internet offers for customers to buy in a comfortable, easy, and safe way, according to most shopping cart abandonment stats, more than half of users abandon their shopping cart. This is one of the main challenges faced by the sales and marketing teams of nearly every online business.
This article will cover some interesting facts and figures about the following:
- General online abandonment rate data
- How this applies to online conversion rates
- Why buyers don’t complete the purchase process
- The best ways to reduce your cart abandonment rates
Shopping Cart Abandonment Statistics: Editor’s Choice
- The average abandonment rate is 69.57%.
- Customers will most likely abandon their carts between 1 p.m. and 2 p.m.
- Just 2.58% of online store visits end in a purchase.
- 79.17% of shopping carts were abandoned in 2018.
- The food and drinks industry has the lowest abandonment rate, at 4%.
- The abandonment rate on mobile devices is 81%.
- 73% of customers will buy products that offer free shipping.
- 22% of shopping cart abandonment occurs because customers are asked to create a user account.
- 45% of customers will open emails sent to recover an abandoned purchase.
- Customers leave a website when it takes more than 3 seconds to load.
Shopping Cart Abandonment Rate Statistics
1. Customers will most likely abandon their carts between 1 p.m. and 2 p.m.
Researchers have revealed that from 1 p.m. to 2 p.m., as well as from 6 p.m. to 9 p.m., you’ll see the highest cart abandonment rates. Moreover, additional data shows that Thursdays and weekends witness the highest cart abandonment rates throughout the week.
2. The average cart abandonment rate is 69.57%.
Abandonment rates are becoming more and more of a problem for e-commerce businesses. For comparison, while the common abandonment rate ranges between 60% and 80% for most companies, a good abandonment rate would be around 20%.
3. Just 2.58% of online store visits end in a purchase.
The competition is fierce in the e-commerce sector, and there are always other stores specializing in the same products. With only 2.25% of website visits turning into a conversion, you need to be ahead of the e-commerce game. The leading ecommerce platform, Shopify, has an average conversion rate of 1.5%
4. In 2016, close to $4.6 trillion in merchandise was abandoned.
(Source: Business Insider)
According to this shopping cart abandonment stat, the e-commerce sector lost $4.6 trillion in just one year. Fortunately, more than half of the merchandise left in these carts can be recovered ($2.75 trillion) through retargeting and remarketing strategies.
5. E-commerce sites lose $18 billion a year in revenue due to cart abandonment.
Shopping cart abandonment leaves a hole in a brand’s annual revenue. Forrester Research studied shopping cart abandonment and found that companies selling products or services online lose around $18 billion in revenue every year—which means these companies could sell even more if they chose to retarget and recover abandoned carts.
6. 79.17% of shopping carts were abandoned in 2018.
Clearly the situation isn’t improving for e-commerce stores, as we can see in SaleCycle’s statistics on the overall cart abandonment rate in 2018.
7. Shoppers between the ages of 18 and 65 have abandoned their cart at least once.
Cart abandonment statistics reveal that close to 81% of online shoppers in this wide age range have dropped a cart before. Considering how high the abandonment rates are, it’s hard to doubt the veracity of this report.
8. People aged between 25 and 44 years abandon their carts the most.
Abandonment statistics from a study made by Content Square shows that the age groups of 25–34 years and 35–44 years are the highest cart droppers. These groups are closely followed by those within the 45–54 year range.
9. The food and drink industry has the lowest abandonment rate, at 4%.
(Source: Retail TouchPoints)
The food and drink industry experiences better shopping patterns because its clients are less likely to enter these sites merely to look at what’s there. They’re entering these sites with clear buying intent so that they can satisfy their immediate needs.
10. Consumers visit 3 websites before making a purchase.
(Source: Marketing Land)
The average consumer compares prices. According to shopping cart abandonment stats, an average consumer visits around 3 sites to compare prices on a product they’re interested in. Considering the wide selection and great offers that they can find all over the internet, it’s now easier for consumers to find what they want on competitor sites—especially with the help of price comparison sites and apps. According to m-commerce statistics, 61% of US consumers use their mobile devices to compare prices between stores.
The average consumer also reads online reviews, with 92% of them not feeling comfortable buying a product or service if it has no customer reviews.
11. The abandonment rate on mobile devices is 81% on average.
As we can see, cart abandonment in mobile e-commerce is a big concern. While mobile drives as much as 60% of all e-commerce traffic, mobile cart abandonment has been showing a problematic upward trend. Some of the reasons for this are longer checkout processes, low website loading speeds, and unclear charges such as shipping fees and taxes.
12. 73% of customers will buy products that offer a free shipping service.
One of the shopping cart abandonment hacks you should try is including your product’s extra costs, such as taxes and shipping, within the product’s original price so that you can offer “free” shipping to your customers. There are studies concluding that free shipping is considered critical for 73% of consumers when they make a purchase. It will even encourage 93% of them to buy more online.
13. The finance industry has the highest cart abandonment rate at 83.6%.
(Source: Annex Cloud)
According to statistics, the sectors with the highest rates of cart abandonment are finance (at 83.6%), charity (83.1%), and travel (81.7%).
14. Up to 66% of buyers say they’d spend more money on sites that offer a generous return policy.
Unfortunately, many stores limit how customers can make returns, either through policies that put a strong restriction on time or policies that charge for the return—or worse, both. You might want to offer free returns within 30 days and create your own shopping cart abandonment case studies to see if you’re getting a good result.
15. 55% of the consumers who abandon their carts do so because they’re asked to re-enter credit card and shipping info.
E-commerce shoppers have no patience and get frustrated at the slightest issue. According to Statista, 55% of customers who abandoned an e-commerce site just before making a purchase did so because they were asked to enter their shipping or credit card information again. People abandon their carts for many other reasons, which we’ll explore in the next section.
Shopping Cart Abandonment: Reasons and Underlying Causes
16. 83% of customers need help while trying to complete an online purchase.
It’s important to know how detrimental the absence of customer support can be for a business. With 83% of shoppers wanting online assistance while making a purchase, poor customer support may just convince them to give up.
17. Over 60% of e-commerce websites lack HTTPS.
Digital buyers distrust stores that don’t seem secure. This may be due to blank images in the order process or design flaws that make the site appear outdated. According to this e-commerce cart abandonment data, 60% of e-commerce websites run on an ordinary HTTP, which means customers’ sensitive information, like their credit card number, isn’t encrypted. Customers will always be wary of revealing vital information on sites like this. This is even more true considering that credit card skimming is responsible for 30% of retail data breaches, as per latest cyber security statistics.
18. 42% of online shoppers will abandon their cart because of their order’s delivery date.
(Source: Tyche Softwares)
Just as shipping costs are a fundamental reason for cart abandonment, the delivery time poses a significant threat to large purchases, abandonment statistics have shown. Usually, important purchases for events such as birthdays, anniversaries, vacations, or emergencies have an expiration date. If your store isn’t able to ship products when customers need them, they’ll be forced to abandon their cart.
19. 28% of users abandoning a site do so because of a long, confusing checkout process.
(Source: Barilliance / Aimtell)
A time-consuming, complex checkout is annoying. Often, asking for unnecessary data can make this process even more frustrating. All this contributes to a poor experience for the user, leading to a 28% checkout abandonment rate for this very reason. To solve this, you’ll need to speed up the site’s navigation and reduce the number of pages the customer goes through during checkout. You can also add a guest checkout page, as for 14% of consumers, the lack of such functionality is the reason to abandon their shopping cart.
Additionally, supporting multiple currencies is a must. The latest ecommerce statistics reveal that 92.2% of consumers prefer to transact in their own currency, and one-third of them would abandon their carts if the listing isn’t in their native currency.
20. 55% of customers would spend more if there was a customer support service available.
More than half of online customers say they’d be more likely to make a purchase if they had access to customer service, such as live chat, during their shopping session. Customers expect service and convenience. Experimenting with a live chat could be worth it, as 71% of consumers prefer this channel of communication.
21. 25% of customers leave a site because of shipping costs.
Hidden fees such as unexpected shipping costs are one of the main causes of desktop and mobile shopping cart abandonment. Transparency is a value much appreciated by digital buyers and is crucial to an online store’s success. To reduce your abandonment rate, clearly and completely break down these costs for your customers.
22. 22% of customers abandoning a site do so because they’re asked to create a user account.
Clients expect comfort. In e-commerce, this means immediacy—customers want to accomplish things fast and get instant results. Requiring more time or effort from them than they expect is a significant source of friction. According to these shopping cart abandonment statistics, 22% of the customers who’ve abandoned a cart chose to do so because they didn’t want to create a new user account.
23. Customers will leave a website that takes more than 3 seconds to load.
(Source: Marketing Dive)
Keeping your page’s loading speed from being too high is a great way to start converting sales. The website design industry statistics confirm that as much as 47% of visitors will abandon a website that doesn’t load 2 seconds. A case study on how to reduce shopping cart abandonment made by the popular tech giants Google showed that sites with a loading time of 5 seconds or less earned 25% more advertising viewability than others. They also enjoyed a bounce rate that was 35% lower than typical values and 70% longer sessions on an average.
24. 8% of customers leave because they couldn’t find a discount coupon.
Many consumers are attracted to special offers. If they don’t find a discount coupon, there’s a good chance they’ll go see if your competitor has one. According to these shopping cart abandonment stats, 8% of consumers abandon a cart when they can’t find a discount. They often opt to wait until one appears, or they’ll try to find a better offer elsewhere.
25. More than 25% of prospective clients leave because of the payment options.
Customers are creatures of habit. We tend to have established preferences for the tasks we do, including online purchases. According to SecurionPay, more than 25% of buyers won’t complete a purchase if the site doesn’t allow their preferred payment option.
Shopping Cart Abandonment Solutions
With such high cart abandonment rates, it’s vital to consider the methods that the leading e-commerce store use to convince customers to make a purchase. If you implement cart emails, ad retargeting, or other strategies, you might be able to plug this revenue leak.
While it may not be possible to persuade everyone who leaves a cart to complete their purchase, the shopping cart abandonment retargeting stats show that it’s worth the attempt. Even though some customers never intended to buy something in the first place, others may have left due to one of the reasons we’ve already brought up. So if you want to reopen this potential income stream, here are some helpful solutions to bring your customers back.
26. 45% of customers will open an abandoned cart email.
What are abandoned cart emails? They’re sent to a customer whenever the system discovers that a customer has abandoned a cart without making the purchase. And the stats supporting this recovery method are more than positive. Nearly half of these emails are opened, and 50% of the customers who open the email will complete their purchase.
Plus, it’s good to know that three abandoned cart emails generate 69% more orders than a single email.
27. The travel industry enjoys the highest open rate of abandoned cart emails, at 49.65%.
According to SaleCycle’s shopping cart abandonment statistics from 2018, the travel market is by far the best industry as far as customers opening recovery emails are concerned. Data shows that the rate is nearly 10% higher in this industry than what’s seen on average in other industries. The fashion and retail industries come next with 40.65% and 39.95%, respectively.
28. A conversion rate of 4.64% can be achieved with the addition of recovery emails.
According to the latest shopping cart abandonment statistics, there’s no reason why your company shouldn’t set automated abandoned cart recovery emails. Aside from seeing a 4.64% conversion rate, you could acquire 70% more orders by sending more than one email aimed at recovering a sale.
29. 72% of Millennials say they’ll make a purchase if the retargeting ads they see include discounts.
The shopping cart abandonment statistics reveal that the Millennials who are already interested in a product will likely buy it if the retargeting ad gives them a discount of some kind. Millennials generally receive the most advertising messages because of the higher rate at which they consume digital media content.
The high cart abandonment rates cited here are mind-boggling, and the metrics clearly demonstrate the importance of online shopping cart abandonment to a business’s bottom line. By incorporating the right strategy to counter it, reports show that your online business will see a sales increase of approximately 6%.
While you can’t force anyone to complete the purchase process, there are ways to at least persuade a sizable number of customers to come back and buy your product. This can be achieved by implementing systems that include abandoned cart recovery emails, retargeting ads, and more appealing purchase policies, according to the data in these shopping cart abandonment stats. Finally, be transparent, build trust, speed up your site’s load time, optimize your products’ delivery times, offer a favorable return policy, and provide multiple payment methods. All of these are just what a store needs to make an online sale.
List of Sources:
- Business Insider
- Retail TouchPoints
- Marketing Land
- Annex Cloud
- Tyche Softwares
- Barilliance / Aimtell
- Marketing Dive