{"id":6835,"date":"2021-08-25T19:31:51","date_gmt":"2021-08-25T16:31:51","guid":{"rendered":"https:\/\/magecloud.agency\/?p=6835"},"modified":"2024-04-04T14:37:37","modified_gmt":"2024-04-04T11:37:37","slug":"how-to-reduce-ecommerce-cart-abandonment","status":"publish","type":"post","link":"https:\/\/magecloud.agency\/how-to-reduce-ecommerce-cart-abandonment\/","title":{"rendered":"How to Reduce eCommerce Cart Abandonment [Guide]"},"content":{"rendered":"
The average shopping cart abandonment rate globally is 69.80%<\/em>.<\/span><\/p>\n Do you know how much you lose? Have you also Googled \u2018How to reduce shopping cart abandonment\u2019 time and time again?<\/span><\/p>\n Now you\u2019re probably familiar with the standard tips and tricks. These mainly relate to <\/span>improving your checkout flow. Have you seen improvement? Or are you still in doubt about where or how to start?<\/p>\n We created a structured guide to <\/span>unique shopping cart recovery tactics <\/b><\/em>for your benefit.<\/span><\/p>\n<\/div>\n <\/p>\n Table of contents:<\/strong><\/p>\n Imagine that you\u2019re filling up your shopping cart in a supermarket. You get distracted by something – maybe an unexpected phone call. You walk out of the store, forgetting all about your cart and your dinner. In the real world, you would only do this in an emergency. But in the world of eCommerce, it happens all the time.<\/span><\/span><\/p>\n Shopping cart abandonment is one of the biggest problems an online business faces.<\/span><\/span><\/p>\n <\/p>\n Abandonment is an eCommerce term used to describe a visitor on a web page who leaves that page before completing the desired action.<\/em><\/span><\/p>\n Cart (or basket) abandonment may be the most obvious. But there are different types of abandonment across various sectors:<\/span><\/span><\/p>\n <\/p>\n <\/p>\n<\/div>\n<\/div>\n<\/div>\n <\/p>\n <\/p>\n In short,<\/span> three in every four shoppers leave their carts<\/b><\/em> instead of buying.<\/span><\/span><\/p>\n Statista found that when UK shoppers abandon carts, less than a third return to buy the chosen products. Instead, a <\/span><\/span>quarter of them<\/span><\/a> will buy an identical product from a competitor.<\/span><\/span><\/p>\n Let\u2019s take a closer look at the impact that cart abandonment has on the eCommerce business:<\/span><\/p>\n <\/p>\n <\/p>\n Yet, abandoned carts often indicate a website or customer experience problem. Find the root causes of this problem and fix them. Your abandonment rate will drop, and your revenue will skyrocket.<\/span><\/p>\n Cart abandonment rate is calculated as a percentage. It tells you what percentage of your shoppers add items to their cart but don\u2019t complete their checkout.<\/span><\/span><\/p>\n <\/p>\n Here\u2019s how you can calculate your abandonment rate:<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n Here\u2019s how the math works:<\/span><\/strong><\/em><\/p>\n <\/p>\n <\/p>\n [Source]<\/a><\/span><\/p>\n <\/p>\n <\/p>\n That\u2019s a lot of money left on the table, right? But, surprisingly, a 66% cart abandonment rate is pretty good compared to industry averages.<\/span><\/span><\/p>\n <\/p>\n To find your current rate, you can look at a handful of data sources:<\/span><\/span><\/p>\n <\/p>\n a) If you\u2019re using\u00a0Magento<\/strong>, <\/em>the default\u00a0Magento 2 offers an\u00a0Abandoned carts report<\/a> (Magento Admin Panel<\/em> > Reports > Abandonment Carts<\/em>). The report lists all registered customers who have abandoned carts that are yet to expire.\u00a0<\/span><\/p>\n The abandoned cart report grid lists the details below:<\/span><\/p>\n <\/p>\n\n
\n\u25cc <\/span>Types of abandonment<\/a>
\n \u25cc <\/span>What effect does shopping cart abandonment have on eCommerce retailers?<\/a><\/li>\n
\n \u25cc <\/span>How do I find my cart abandonment rate?<\/a>
\n \u25cc <\/span>How to track my cart abandonment rate?<\/span><\/a>
\n\u25cc <\/span>What is the average cart abandonment rate?<\/a>
\n \u25cc <\/span>Cart abandonment statistics<\/a><\/li>\n
\n\u25cc <\/span>High prices or restrictions on product quantity<\/span><\/a>
\n<\/a> \u25cc <\/span>Unclear pricing or unexpected extra costs<\/a>
\n<\/a>\u25cc <\/span>A user account is mandatory<\/span><\/a>
\n<\/a>\u25cc <\/span>A complicated, poorly optimised checkout process<\/a>
\n<\/a>\u25cc <\/span>Lack of payment options<\/a>
\n<\/a>\u25cc <\/span>Poor shipping and long delivery times<\/a>
\n<\/a>\u25cc <\/span>Ambiguous return and refund Policy<\/a>
\n<\/a> \u25cc <\/span>Lack of trust or payment security concerns<\/a>
\n\u25cc <\/span>Frustrating technical issues<\/a>
\n<\/a>\u25cc <\/span>No discounts or promo codes to use<\/a>
\n<\/a>\u25cc <\/span>Window or comparison shopping<\/a>
\n<\/a>\u25cc <\/span>Shoppers are human, and the universe is chaotic<\/a><\/li>\n
\n\u25cc <\/span>Optimise and send abandoned cart emails<\/a>
\n \u25cc <\/span>Retarget cart abandoners elsewhere<\/a><\/li>\n<\/a>What Is Shopping Cart Abandonment?<\/span><\/strong><\/span><\/h2>\n
<\/a>Types of abandonment<\/span><\/strong><\/span><\/h3>\n
\n
<\/a>What effect does shopping cart abandonment have on eCommerce retailers?<\/span><\/strong><\/span><\/h3>\n
\n
\n
<\/a>Shopping Cart Abandonment Rate<\/span><\/strong><\/h2>\n
<\/a>How do I find my cart abandonment rate?<\/strong><\/span><\/h3>\n
\n
[1<\/span>\u00a0–<\/span>\u00a0[\u00a0(#) completed purchases<\/span>\u00a0\/<\/span>\u00a0(#) shopping carts created<\/span>\u00a0]]\u00a0*<\/span>\u00a0100<\/span>\u00a0=<\/span><\/span><\/strong><\/h4>\n
(%) Shopping Cart Abandonment Rate<\/span><\/span><\/strong><\/h4>\n<\/blockquote>\n
\n
\nLet\u2019s take an example. You have 300 shopping carts initiated. But shoppers only made 200 purchases. In other terms, about 66% of your shoppers left without completing an order.<\/span><\/span><\/p>\n<\/a>How to track my cart abandonment rate?<\/span><\/strong><\/span><\/h3>\n
Platform analytics<\/strong><\/span><\/h3>\n
\n