Cart Abandonment Statistics to Reduce your lost sales in 2023
Cart abandonment is a nightmare for every owner of an e-commerce website. They are constantly looking for solutions to this problem and ways to sustain their ROI.
This guide contains some of the most recent cart abandonment statistics from our database regarding abandoned cart emails. It will help you to understand why online shoppers may not buy and how to increase your sales.
This guide is divided into sections that are categorized by the wisdom source you are looking for.
General Cart Absandonment Rate Statistics
Start with some general information about this topic.
- Users abandon an average of 69% online carts (Moosend 2021).
- A recent study by Baymard Institute found that this rate can range from 56% up to 81% depending on factors such as industry and region.
- The Caribbean has the highest Cart Abandonment Rate and Asia & Pacific the lowest (76.3%).
- B2C companies that automate workflows to resolve abandoned cartsee a 50% conversion rate increase (Moosend 2021).
- The value of abandoned carts is estimated to be up to 4 trillion per year.
- 26 % of abandoned websites are brought back by retargeting ads.
- For Cyber Monday, the rate reached 80.25 (a data-wpel-link=”external” href=”https://d34w0339mx0ifp.cloudfront.net/content/2021_Ecommerce_Stats_Trends_Report_EN.pdf” rel=”noopener” target=”_blank”) Cyber Monday saw a rate of 80.25 percent ( saleCycle 2021).
This is how shopping cart abandonment rates have evolved over time based on Statista.
Many online shoppers will leave items in their shopping carts and never make a purchase. But if you use digital marketing strategies, you can overcome this barrier. Later, we’ll explain how.
Abandoned cart Email Stats
Moosend wants to know everything about email marketing so that we can help you succeed. We conducted a survey using numbers from our database in order to determine the effectiveness of abandoned-cart emails. We found the following:
- Emails containing cart abandonment are opened at a rate of up to 45%.
- is clicked 50% of the time in emails about cart abandonment. 21% of emails that are opened receive click-throughs.
- Half of users who engaged in the email content completed the purchase:
We believe that the evidence is very clear. Abandoned Cart Emails are a powerful way to regain the attention of those who have abandoned their carts and bring them back to an eCommerce website and checkout page.
Sign up for a Moosend Account ASAP to start creating effective abandoned cart emails that will boost your ROI. Choose one of our templates and do the magic to increase conversion rates.
Industry Specific Cart Abandonment Statistics
Let’s look at some benchmark data for shopping cart abandonment based on the industry that you work in. We’ll focus on online retailers.
- The highest cart abandonment rate occurs in the Cruise and Ferry industries, with up to 98%. And the lowest is found in Consumer Electronics and Groceries (50%).
- Cart abandonment rates for Luxury and Fashion are approximately 88%. In Retail, it can reach up to 71.2 %.
What our Moosend Study revealed for different industries
- The Finance industry has the highest rate of cart abandonment (83.7%), then Travel (82.2%), Non-profits (82.1%), Retail (77.3%), Style (67.6%), Gaming (67.6%), and Retail (77.3%).
You will be able to determine where you are in relation to your competitors, and how much money you should spend on cart abandonment recovery strategies.
Stats on Shopping Cart Abandonment Related to Cause
Here are the main reasons that many online shoppers abandon their shopping carts. This is a great tip for eCommerce brands who want to reduce cart recoveries:
- Shipping related reasonscontribute over 60% of carts to be abandoned.
- 28% of visitors to websites left because the checkout process was too complicated.
- Finaly, payment issues, such as unfavorable payment methods or declined cards, can also play a part, but they are lower on the list.
Average Shopping Cart Abandonment Rate By Device
Are there differences in the way online shoppers shop based on their devices? The Baymard Institute report contains some new stats about devices.
- Mobile Users abandon their carts at a rate higher than 85.7%.
- Desktop Users abandon their carts at a lower rate of 73%, while Tablet users abandon their carts at 80.7%.
- Nearly four of ten mobile shoppers abandon their online shopping carts because it is difficult to complete their personal information during checkout.
5 Best Practices To Recover Cart Abandonment Lost ROI
These statistics on cart abandonment should have helped you to overcome any feelings of helplessness. When you feel that your eCommerce business has been negatively affected by online shopping cart abandonment here are some great practices to consider.
1. Send email campaigns to cart abandoners
It’s worthwhile to invest in abandonment cart emails, as they have a high open rate and click through rate. You will need software for marketing automation such as Moosend and Mailchimp to build these emails.
Save time with Moosend’s cart abandonment recipe.
How can you create a cart abandonment message that stands out in the mailboxes of your subscribers to get the best results? Consider these things:
- Maximize open rates by creating a subject line that is appealing and reflects the email’s content.
- Create a clear design for your email with a CTA that appears.
- Create copy that is actionable and creates a feeling of urgency.
- Offer an incentive such as a discount coupon or shipping costs that are free to make the experience more enjoyable.
- Increase conversions by adding attractive product images.
Jack Wills has created an incredible cart abandonment email. The content of the email is customized for each recipient, making them feel special. They also include similar suggestions, as well as abandoned products.
Free delivery and discounts up to 50% are also attractive incentives. In general, the removal of extra costs encourages abandoners reconsider their purchase.
Subject: Your cart is experiencing abandonment issues… 
Are you ready to create your email campaign? Create a Moosend account, then use our editor to create stunning newsletters.
Are you looking to improve your open rates on emails? Use Moosend’s “Refine” subject line tester for free to improve your metrics.
2. Checkout design optimized
What about the overall user experience on your eCommerce site? You need to collect a lot of data in order to create a website that is easy to navigate. Shopify and Wix are two of the most popular eCommerce builders. They have all you need to create a user-friendly website.
What should you do to reduce your cart abandonment rate? The design of the check-out page . The lengthy account creation processonline store request is the main reason why many customers leave this stage. You should therefore shorten this valuable step.
Find the best customer service options for you by looking at the H&M options that are available to prospective buyers:
Hence, eCommerce brands need to include a Guest Checkout option that has minimal form elements so as to make it easier for customers to finish their purchases. Keep the registration form to the essential fields to help them convert.
Place important information such as the return policy and shipping details at prominent locations during the customer journey.
3. Create retargeting advertisements
If you have extra budget, you can “chase away” cart abandoners in other channels such as social media by creating Retargeting Ads. You will be able to attract their attention if they have previously shown a genuine interest in your brand.
What makes a retargeting advertisement excellent? To attract their attention, you can show them the products that they left behind. Add copy that suggests urgency to get them clicking faster. Design a CTA button.
This paid advertisement by Casper is amazing. It has great copy, and it offers a 30-day trial.
You can also add an incentive to your offer to make it more appealing, especially if your goal is to increase sales during busy seasons such as Black Friday and Christmas.
4. Multiple payment options
Cart abandoners are also impacted by the lack of payment options offered by some eCommerce sites. Many consumers are reluctant to give their credit card details because they do not always trust the sites where they purchase.
Add more payment options such as PayPal to encourage more people to convert.
5. Improve user experience across devices
According to the statistics, mobile devices have a higher abandonment rate. To reduce these rates, you should ensure that the customer experience on your eCommerce website is excellent across all devices.
It is important to implement this practice for any additional assets that aim to reduce cart abandonment. This includes your email campaigns. Many email services, like Moosend, offer mobile responsive email templates in order to bridge this gap.
Conclusion
These statistics on cart abandonment are meant to help you get a better perspective of the situation and identify solutions that will allow you to recover your lost revenue. You can find a strategy for any type of business. From optimizing your checkout process to planning retargeting advertisements, there are many options.
We’re happy to assist you with the most cost-effective, yet effective tactic: abandoned cart emails. Try out our free trial today and see how you can bring back your lost customers.
Cart Abandonment Stats FAQs
Are you a cart abandonment novice? You might be interested in knowing:
1. What is cart abandonment?
Cart abandonment is when a customer leaves your site without buying the items they have added to their cart.
2. How do we stop cart abandonment?
You can take certain steps, including optimizing the user experience across all devices, increasing your average checkout time and planning abandoned-cart emails or retargeting email campaigns.
3. What is an acceptable cart abandonment?
According to a Baymard Institute report, the average cart abandonment rate varies by industry.
4. How can I use the cart abandonment statistics?
Use them to understand where you stand on your niche market, and why customers abandon their shopping carts.
The post 20+ cart abandonment stats to reduce your lost sales in 2023 first appeared on Email marketing automation platform for Thriving businesses.
