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BizReport : Ecommerce archives : May 17, 2016

Cart abandonment rates falling, but still remain high

A new report has shown a decline in cart abandonment rates across several markets thanks to greater customer insights and web personalization. However, the rates remain high and a challenge to online retailers.

by Helen Leggatt

In their quarterly report, email and on-site remarketing firm SaleCycle reveals that cart abandonment rates, or the proportion of customers who leave a website having created purchases in a cart, is on the decline.

By analyzing results from more than 500 global brands such as Hewlett Packard, Iberia and Ralph Loren, they found that cart abandonment rates dropped to 74.32% in Q1 2016 from 76.6% in Q3 2015 and 75.45% in Q4 2015. Driving this trend, says SaleCycle, are the impacts of website personalization showing relevant content as well as being proactive with customer feedback and purchase data.

In Europe and North America, where SaleCycle says delivering convenience to consumers is a prime focus, rates of cart abandonment were the lowest at 71.5% and 73.1% respectively. The highest abandonment rate in the world was in Asia Pacific - at 75.9% - although no region differed from the global average by more than 2.8 percentage points.

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However, the fact remains that online retailers are still having to contend with high rates of cart abandonment. The problem is compounded by retailers failing to follow up on cart abandonments. Research recently conducted among top UK retailers revealed that a whopping 74% failed to follow up.

Tags: cart abandonment, ecommerce, online, retail, shopping cart trends

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