Almost 70% Of Online Shoppers Abandon Shopping Carts. Why?

A recent study by the Baymard Institute reveals that around 70% of online shoppers abandon their shopping carts before completing a purchase.

This trend highlights critical pain points for e-commerce businesses striving to improve their conversion rates and customer satisfaction.

For businesses, understanding the reasons behind this behavior is crucial, especially when looking at how certain factors contribute to cart abandonment and identifying ways to reduce it, such as partnering a site with promo codes promocodius.be or similar platforms to offer more incentives to shoppers.

Reasons Behind Cart Abandonment

Cart abandonment occurs when shoppers add products to their online shopping carts but fail to complete the checkout process. This issue has become a major concern for online retailers, leading to billions of dollars in lost revenue each year. The Baymard Institute reports that the average cart abandonment rate across all industries is 69.99%. In other words, for every 100 potential buyers who add items to their cart, only 30 complete their purchase.

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According to the research, several factors contribute to this issue:

• High Extra Costs: A study reveals that 47% of shoppers abandon their carts due to unexpected extra costs like shipping fees, taxes, or additional charges that were not clearly stated upfront.

• Account Creation Requirements: Approximately 25% of shoppers leave their carts when prompted to create an account. Customers often prefer a quick, guest checkout to avoid sharing unnecessary personal information.

• Slow Delivery Times: About 24% of shoppers abandon their carts because the estimated delivery time is too long.

• Security Concerns: Nearly 19% of shoppers do not proceed to checkout because they do not trust the site with their credit card information.

• Complicated Checkout Processes: The checkout process itself can be a hurdle for many; 18% of shoppers find it too lengthy or complicated.

• Lack of Cost Transparency: Around 17% of shoppers abandon their carts because they cannot see the total cost upfront.

• Unfavorable Return Policies: Some 16% of shoppers leave their carts due to dissatisfaction with the store’s return policy.

• Website Errors: Approximately 14% of shoppers are deterred by technical errors, such as crashes or glitches during the shopping process.

• Limited Payment Options: A lack of diverse payment methods causes 11% of customers to abandon their carts.

• Declined Cards: A smaller but still significant 6% of shoppers abandon their carts because their cards are declined.

The Bigger Picture: How Device and Industry Impact Cart Abandonment

Cart abandonment rates vary widely depending on the type of device shoppers use and the industry they’re purchasing from. When it comes to devices, mobile users are the most likely to abandon their carts. A staggering 85% of online shoppers using mobile devices leave without completing their purchase, compared to 81% on tablets and 75% on desktops (Statista, 2023). Despite the increasing popularity of mobile shopping, many consumers still prefer to finalize their transactions on larger screens, which offer a more stable and detailed shopping experience.

Industry-specific trends also play a significant role in cart abandonment rates. The travel and lodging sector faces the highest rates of cart abandonment at 87.8%. This is likely because travel bookings are often complex and expensive, leading shoppers to spend more time evaluating their options before making a commitment. Fashion and apparel businesses aren’t far behind, with an abandonment rate of 84.43%. This high rate can be attributed to the impulsive nature of fashion purchases, where customers frequently compare prices and styles across multiple sites before making a final decision. On the other end, grocery and convenience stores have the lowest cart abandonment rates at 56.6%, as shoppers are less likely to leave behind essential items like food and household goods.

Retailers looking to reduce abandonment rates can employ various tactics, such as promoting special deals on popular products or offering unique discounts, like a selection of up-to-date Bellewaerde promotional codes for family attractions. Likewise, offering curated lists of items, such as the latest promos for cosmetic products available on a page with offers from Ordinary, can keep customers engaged and motivate them to complete their purchases.

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