What are the Common Reasons of Shopping Cart Abandonment?

Did you know in 2013 as many as 74% of ecommerce shopping carts were abandoned? in 2015, there could be $4 trillion dollars just waiting to be recovered.

Shopping cart abandonment rate has always been a big concern for ecommerce, but the rise of m-commerce has given this crucial metric a whole new dimension.

Selling online through an eCommerce store comes with its own challenges. There is a huge difference in shopping online and offline. The eCommerce stores try their best to enhance shopper’s experience. But it is always difficult to maintain conversion rates. The biggest challenge faced by the online retail industry is shopping cart abandonment. It is a technical term for when the shoppers put the items in their online shopping basket but do not checkout. Ultimately, the store owner loses the customer. In 2015, the average shopping cart abandonment rate was 68%. This means that the shoppers spent hours browsing, selected the product they wanted to buy, added the product to their cart, and were ready to check out. But they didn’t, why? Something must have halted them from completing the purchase.

BI IntelligenceShopping cart abandonment - when shoppers put items in their online shopping carts, but then leave before completing the purchase - is the bane

In marketing, abandonment rate is a term associated with the use of virtual shopping carts. Also known as "shopping cart abandonment". Although shoppers in brick and mortar stores rarely abandon their carts, abandonment of virtual shopping carts is quite common. Marketers can count how many of the shopping carts used in a specified period result in completed sales versus how many are abandoned. The abandonment rate is the ratio of the number of abandoned shopping carts to the number of initiated transactions[1] or to the number of completed transactions.[2] The typical shopping cart abandonment rate for online retailers varies between 60% and 80%, with an average of 67.91%.[3]