The definition of cart abandonment?
Many times I asked by eCommerce website owners “what is Cart abandonment?” It is a concept ignored by many eCommerce sellers. Abandoned carts are defined as visitors leaving a web page before completing the final action. The best example is a user coming to an eCommerce website, adding items to the shopping cart and exits the website without finalizing the purchase.
What is browse abandonment?
Browse abandonment happens when a visitor visits product pages, looks around in your website and ends up exiting the website with no further action.
What is the difference between cart abandonment and browse abandonment?
The action of adding items to the cart or the lack of it. If a user adds items to the cart and exits this is an abandoned cart and if a user just look at product he abandoned while browsing
Should I care about abandoned carts
The short answer is YES! According to Baymard Institute close to 70% of carts are abandoned before a purchase. In simple terms for every 3 finalized purchases, there are 7 users who abandoned their carts before completing their purchase. Imagine recovering only 10% of those carts. The numbers are staggering. According to the same article, $260 Billion are with the possibility to recover them. According to research documented and performed by Baymard Institute, a large eCommerce site can lift its’ conversion rate by over 30% while taking the correct abandoned cart prevention and cart recovery actions.
Online shopping cart abandonment rate in the United States from 1st quarter 2012 to 4th quarter 2015 – Statista
sharing cart abandonment rates in different regions.
We established that cart abandonment is something to be handled and optimized and can produce measurable impacts on your conversion rates and sales.
How to reduce cart abandonment
There is no short answer to this and there are many steps to achieve this. I will share tips on actions you can take to reduce cart abandonment and get more sales. Getting less abandoned carts is achieved mainly by reducing friction while a user is in the process of completing a purchase.
Can I completely prevent cart abandonment?
The short answer is NO. Your website will always produce uncompleted purchase actions. You must remember that shoppers will always change their minds or exit for various other reasons. Your goal now is to succeed on recovering some of those carts. Clients report success in converting over 25% of cart abandonment emails.
As you can the knowledge of cart abandonment rate can assist in increasing your sales. Those are allmost buyers with the right approach and tools you can recover up to a quarter of them. (some reports imply 30% recovery ratio)