What’s Your Cart Abandonment Rate?

What’s Your Cart Abandonment Rate?

Looking through the digital marketing stats for last week we discovered the latest remarketing report produced by Salecycle. The report revealed that for Q2 of 2018, cart abandonment was 75.4% and 75.6% in Q1. Cart abandonment is always a problem, but when you see such high figures it’s actually quite shocking.

The highest level of cart abandonment is found in the travel sector, with a rate of 81.8%. Next comes finance with 77.8% and non-profit with an abandonment rate of 77.3%. One of the ways of dealing with cart abandonment is sending out emails to those who have left the site without checking out. Interestingly, the report found that out of those sending out emails, finance came out on top with an open rate of 56% and a conversion rate of 6.6%. ON the other end of the scale, retail had an open rate of 39.9% and a conversion rate of 3%.

Combatting the Abandoned Basket

3 out of 4 buyers leave their basket full online and jump off the website. There are several factors for this, but here are some of the most common ones.

  • Shipping and extra tax costs – the shipping costs are always a consideration. What might seem like an absolute must buy to a buyer will quickly become abandoned if they’re met with high delivery charges at the checkout. Add to that any concerns with international shipping costs and the potential for tax on top and the buyers will stop their purchase. To prevent this from happening it’s worth using cookies (and asking the permission of each visitor) to identify the location and provide accurate information regarding shipping and tax immediately.
  • Looking for better deals online. Buyers want to find discount codes, promotions and cheaper prices and they have the ability to do this all from wherever they may be browsing from. If they find a better price they’ll buy from someone else. Help prevent this with an excellent service and a price match guarantee. Another option is to include how many products are left in stock and the number of people that are looking at the product. Concern about availability and missing out can help get the sale.
  • Delivery times can be off-putting (especially if combined with high shipping costs). Show how long shipping can take and the cost clearly on the site so buyers know immediately what they can expect. Highlight offers such as free delivery when you spend £25 or free next day delivery to help encourage people to buy from you.
  • Many buyers add to the cart so they can compare products against one another. Stop this shopper action being mistakenly classed as an abandoned cart issue by introducing a wish list or comparison tool on your website.

There are other reasons, such as simply browsing with no intention to buy, concerns about site safety or complicated websites and so on. Many issues such as the ones above can be tweaked with a few changes on site and a quality email marketing strategy.

Need help with your digital marketing strategy? Get in touch with us here at the office, let’s put our heads together.

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