It's so painful to watch shoppers abandoning their carts in your e-commerce store.
As e-commerce business owners, it is like losing a sale in the very last stage of the purchase funnel, and all your previous endeavors of creating incentives for people to shop in your online store go in vain. 😢
But you’re not alone - The figure of global online shopping cart abandonment rate has been increasing over recent years (2006-2020), pointing to the fact that online retailers face growing difficulty in converting customers and closing sales:
To help you decrease cart abandonment 🛒, we've conducted extensive research and compiled a list of 14 latest data and trends that will shed light on:
- Cart abandonment rates by industry, device, and country.
- Why do people abandon their shopping carts?
- What are the proven strategies to reduce e-commerce cart abandonments?
You'll find an overwhelming amount of data on cart abandonment if you search online. So to save you from the hassle, we’ve selected the most relevant and up-to-date ones for you. 😉
Let’s dive right in!
Cart abandonment rates by industry, device, and country
1. In 2021, the average cart abandonment rate was 69.82%.
This stat indicates that 7 out of 10 online shoppers will abandon their carts and leave without purchasing in e-commerce stores! You can trust this number calculated by Baymard Institute 🤓 because it’s an average based on data from 46 different studies investigating e-commerce shopping cart abandonment.
2. E-commerce brands lose a staggering $18 billion in yearly sales revenue each year due to cart abandonment.
And in this year, $4 trillion worth of merchandise is predicted to be abandoned in online shopping carts.
3. In 2021, the automotive industry had the highest abandonment rate of 89.11%.
Next on the list is the airline industry (88.87%), followed by fashion (88.57%). In comparison, in 2021, the grocery industry had the lowest shopping cart abandonment rate at 61.13% 🥦🍞
4. Mobile shoppers have a higher shopping cart abandonment rate of 85.65%.
The average cart abandonment rate differs by device:
5. At 86.15%, Spain has the highest cart abandonment rate.
Research by Brilliance compared cart abandonment rates in some of the most representative e-commerce markets worldwide: While the Netherlands has the lowest cart abandonment rate at 65.49%, Spain is the highest, with an average cart abandonment rate of 86.15%.
Why do people abandon their shopping carts?
6. The NO.1 reason for cart abandonment is too high extra costs (shipping, fees, & tax).
In Baymard Institute’s latest 2022 study, 48% of shoppers abandoned their online purchases during the checkout process because extra costs for shipping, tax, or fees were too high.
7. Being forced to create an account is the NO.2 reason why shoppers abandon their carts.
In the same study, 24% of people selected "The site wanted me to create an account" as the number two reason for abandonment during checkout.
8. In general, if the website fails to load in 3 seconds, 57% of online consumers will abandon it.
What’s even worse? 80% of these consumers will NEVER return to this website!
9. 40% of people abandon their fashion and clothing purchases online because of bad website functionality.
In the e-commerce fashion industry, bad website functionality is apparently the top one sales killer. The solution? 🛠
What are the proven strategies to reduce e-commerce cart abandonments?
11. Cart abandonment emails had a 41.09% open rate in 2021.
The average email open rate was 16.97% in 2021. 📤 This means the open rate of cart abandonment emails was nearly 2.5x higher!
What do these statistics suggest? Cart abandonment emails perform better than other marketing emails because customers actually react to companies’ reminders for their incomplete orders.
📚 Learn more about how to perfect your cart abandonment emails 👉: The 3 Best Ways to Maximize Abandoned Cart Recovery in 2022
12. 3 out of 4 consumers now notice retargeted Ads.
What’s even more promising is that 26% of customers will return to your site through clicking on these retargeted Ads. 👏
13. Brands who personalize their remarketing Ads see a 1,317% ROI.
And 87% of consumers believe personalized advertising means relevant content based on their previous buying, shopping, and browsing behaviors.
Does it sound too complicated and difficult? Don’t worry – it’s not. 😉
To achieve omnichannel targeting, you can use Clerk Audience as a CDP and integrate it with Google Ads, Facebook, Linkedin, MailChimp, Active Campaign, and many other platforms.
Learn more about CDPs: What is a Customer Data Platform? The Definitive Guide to CDPs (2022)
14. When there’s free shipping, about 79% of people are more likely to shop online.
As mentioned above, the extra cost for shipping is the NO.1 reason why shoppers abandon their carts. So if you can, free your customers from worrying about the additional shipping cost.
Another pro tip is to offer and highlight free shipping as an incentive in your abandoned cart emails, just like Huckberry:
Just imagine how much your revenues would increase if you could recover these abandoned carts and sales instead of losing them! 😍
To get started with having your cart abandonment reduction strategy in place, talk to one of our e-commerce experts today.
