Shopping cart abandonment is a phenomenon where a potential customer starts a check out process but leaves without actually buying anything. There are numerous reasons this could happen. Buyers usually figure out additional costs (like taxes and shipping) just before clicking the Buy button. Some dislike the idea of creating an account so much that they drop out entirely. Then, there’s the complication that comes with the inefficiently-made checkout process.
By figuring out which of these reasons is predominant, retailers can drastically improve their performance. If they want this to work, it’s crucial to delve deeper into the shopping cart abandonment statistics. Due to the fact that these statistics are regularly updated and re-evaluated, it’s pivotal that the information you have is up to date. So, here are the top 30 shopping cart abandonment statistics in 2020.
Top 7 Shopping Cart Abandonment Facts in 2020 (Editor’s Pick)
- 69.57% is the average shopping cart abandonment rate across all industries.
- Mobile users have an abandonment rate of staggering 85.65%.
- The total value of abandoned shopping carts is $4 trillion worldwide.
- 6.5% of the $4 trillion abandoned shopping carts’ value is recoverable.
- The travel industry takes the first spot with 81.1% of abandonment carts.
- 92% of shoppers leave due to negative peer reviews.
- On average, there are 39 elements that online retailers can improve in their checkout experience.
Most Relevant Shopping Cart Abandonment Trends in 2020
1. 69.57% is the average shopping cart abandonment rate across all industries.
The fact that the average shopping cart abandonment rate is 69.57% can be seen as both relevant and irrelevant. It is relevant because it shows exactly how big of a problem this actually is. The irrelevance comes from the fact that the difference among various industries and online shopping trends is huge, which is why the global average value hardly serves as an indicator.
2. With the cart abandonment rate of 81.1%, the travel industry gets the first spot.
Speaking of abandonment per industry, the travel industry has the highest abandonment rate with 81.1% of abandoned carts. This is because people prefer to browse their options months in advance. The gaming industry, on the other hand, has a substantially lower abandonment rate, with 64.2%. This is mostly because gamers prefer to inquire about the game via numerous other sources before arriving at the digital store.
3. Mobile users have an abandonment rate of staggering 85.65%.
Mobile users have an abandonment rate of staggering 85.65%, which is considerably higher than the rate of their desktop counterparts. The main reason for this is the fact that a lot of people prefer to buy on a desktop device. This is why they may check the price of an item on mobile and then buy it from a different device. In fact, there seems to be a direct correlation between a desktop size and the online shopping cart abandonment rate.
4. The abandoned shopping carts value is $4 trillion worldwide.
In order to explain just how huge this figure is, it’s important to mention that the value of abandoned shopping carts in the world is $4 trillion worldwide. In other words, according to ecommerce cart abandonment rate surveys, if everyone finished every checkout process that they’ve started, the ecommerce world would earn $4 trillion more.
5. 6.5% of the abandoned shopping cart value can be recovered.
Another crucial global online shopping statistic shows how much of this ‘lost’ money can be salvaged. Sure, $4 trillion is the value of these potential purchases, but a large portion of them would never be completed, to begin with. So, how big of a portion is actually salvageable? According to some estimates, it is 6.5% of these $4 trillion, which amounts to roughly $260 billion — a figure far from insignificant.
Dominant Reasons for High Shopping Cart Abandonment Rate in 2020
6. 92% of shoppers leave due to negative peer reviews.
Before completing a purchase, the majority of shoppers will look for a peer review. People are quite perceptive when it comes to this and have the tendency to check reviews left by marketers. However, a negative peer review is a No.1 reason for particularly high cart abandonment. As many as 92% of shoppers leave due to negative peer reviews.
7. 80% of consumers abandon the cart because of a poor return policy.
When it comes to online vs in-store shopping, the biggest difference is the inability of a buyer to personally inspect the item. An online buyer has no way of knowing if the item they receive is going to be the item that they’ve ordered in the first place. So, 80% of them will abandon the cart because of an inadequate return policy. So, a better return policy can drastically drop a high shopping cart abandonment rate.
8. 58.6% of potential buyers are not ready for the purchase.
A huge portion of these potential buyers is just not ready to purchase. In fact, as many as 58.6% of them would fall into this category. The chances are that they’re on a site just to inspect the product, look for reviews or compare the price in the store to the one they saw someplace else. They might also look for a price as a point of reference for their local retail place.
9. 55% of customers abandon the cart because they believe the extra costs are too high.
You should also bear in mind that, with any given purchase, the cost is always a major factor. So, what can surprise a buyer that has already checked out the product several times? One of the common trends in online shopping is displaying costs at the very end of the checkout process. Therefore, 55% of all buyers abandon the cart because they believe the extra costs are too high.
10. Slow delivery time is responsible for only 16% of all shopping cart abandonment.
In the field of ecommerce, there are so many myths and misconceptions. One of them is the idea that people are abandoning the store without buying anything because of the slow delivery. This is why, when they notice a high checkout abandonment rate, the majority of retailers include the next-day or same-day delivery. In reality, though, only 16% of people are concerned with the delivery time so much that they would leave without buying anything.
Little Known Factors Affecting Ecommerce Shopping Cart Abandonment Rate
11. A non-responsive website can increase your cart abandonment rate by 75%.
There are a lot of technical issues that have a major impact on your shopping cart abandonment rate. For instance, if one’s website is too slow to load, it may lose 75% of its traffic. This means that it’s not just one’s offer or price that affects the abandonment rate. Sometimes, in order to improve the performance of e-store, one needs to do on-site optimization. These shopping cart abandonment stats can shed new light on this subject.
12. Time of the day also affects cart abandonment rates.
Another little-known factor in play is the fact that the ecommerce shopping cart abandonment rate tends to be substantially higher between 8 PM and 9 PM. The reason behind this is mostly because people browse for items they want straight before going to bed. This gives them some additional time to weigh-in the decision.
13. Saturdays and Sundays are the days with the highest cart abandonment rate.
On Saturday and Sunday, the abandonment rate can skyrocket to 89%. People usually spend weekends relaxing, which is why they are reluctant to make any major decisions or choices. This is also why Monday tends to be the most active day for online shopping. As expected, Wednesday is the average, with an 85% abandonment rate.
14. On average, there are 39 elements online retailers can improve in their checkout experience.
These shopping cart abandonment stats can be improved in a number of ways. On average, there are 39 elements that an online retailer can improve in order to make their checkout process smoother and more satisfying. This is a staggering figure, and it indicates that even those with a decent checkout system (those who are far above average) have a long way to go.
15. Shoppers abandon 1 in 7 shopping carts.
There’s an estimate that shoppers abandon 1 in 7 shopping carts. This raises a question — why is shopping cart abandonment a problem for retailers? Well, a high shopping cart abandonment can indicate that there’s a problem within their organization.
Shopping Cart Abandonment Rate by Region, Demographic and Product Category
16. The cart abandonment rate in Europe is at low 70.9%
When considering the shopping cart abandonment by the region, it is clear that Europe is at the bottom (or on top, depending on your perspective), with 70.9% rate of shopping cart abandonment. This is a truly optimistic figure, given the fact that regions like Asia and the Pacific islands have an average rate of 76.3%, and Latin America has a cart abandonment rate of about 75.3%.
17. The majority of US consumers rely on their phones.
According to the Forrester research shopping cart abandonment, the majority of consumers from the US are incredibly reliant on their phones. This is why it’s suggested that building strong mobile sites might end up in a considerable decrease in the shopping cart abandonment rate.
18. 21% of cart abandonment rate belongs to the age group 25–34.
When it comes to cart abandonment rates by the age group, the numbers are far from surprising. First of all, the age group 25–34 comprises 21% of the entire shopping cart abandonment rate. The age group 35–44 follows it closely behind with 20% abandonment rate. People in the age group 45– 54 have the lowest abandonment rate of 13%.
19. Facebook users are prime candidates for retargeting, with 51% of all internet users on the platform.
When looking for a retargeting platform, it’s crucial to understand users’ demographic concerning their preferred platform. About 51% of all internet users are on Facebook, and it receives one trillion page views per month.
20. In ecommerce, women’s clothing is the most commonly abandoned product type.
When it comes to the product type that gets abandoned most often, it’s important to stress out that the clothing industry is the absolute leader. Women’s clothing is the most commonly abandoned product type, in 29% of the cases. Male clothing is not far behind with the abandonment rate of 26%.
Problems Caused by High Shopping Cart Abandonment
21. Currency miscalculation is a huge issue for shopping cart abandonment.
Another effect of the digital shopping cart abandonment is the fear of facing different currencies in the retail world. Namely, a lot of cost-related confusion comes from one’s inability to accurately convert the price in the currency displayed on the site to their local currency. Additional costs are making this even more confusing.
22. Only about 0.25% of new visitors are ready to make the purchase right away.
The customer lifecycle is a marketing principle suggesting that the majority of people become customers after several interactions with your brand. The statistics showing that only about 0.25% of new visitors are ready to make the purchase immediately further supports this fact.
Digital shopping cart abandonment negative effects commonly caused by this phenomenon are usually tied to unrealistic expectations of retailers. To the majority of these retailers, 0.25% can sound quite discouraging.
23. Around 34% of people opening a cart on your e-store are just looking.
When it comes to all the problems caused by the shopping cart abandonment phenomenon, some studies show that around 34% of people who open a cart on your e-store do that just to check the products.
Namely, shopping cart abandonment statistics for 2020 suggest that a significant portion of your traffic has no intention of becoming a paying customer. This means that they ruin your retention rate, your shopping cart abandonment rate, and draw more traffic to your site with no gain whatsoever.
24. The amount of personal information a site requests is the reason 40% of visitors abandon it.
When asked, about 50% of all ecommerce visitors stated that they’ve left due to the fact that a website asked for too much personal information. The reason this is problematic is that it significantly undermines the trust between the customer and the brand in question. This is one more reason registering should not be mandatory for the majority of ecommerce sites.
25. 34% of visitors leave because they believe the checkout form is too lengthy.
According to numerous studies and surveys, it is believed that human beings have an unprecedentedly low attention span. In order to further support this claim, there’s the fact that as many as 34% of potential buyers give up because it took them too long to fill in the checkout form. Also, if the wording is confusing and takes a bit more careful reading to interpret it, about 18% of visitors might leave.
Strategies to Improve Shopping Cart Abandonment Statistics
26. Desktop users have the lowest cart abandonment rate of 73.1%
On average, desktop users have significantly lower cart abandonment rates of 73.1%. This is why one of the most lucrative ecommerce strategies would be to see them as your top priority. In other words, while retailers don’t want to neglect their standing with mobile users by focusing on desktop users, they could drastically lower their cart abandonment rate in 2020.
27. 21% of shoppers dropped because they couldn’t calculate the total cost of the purchase.
The next piece of advice is — exercise transparency. As many as 21% of shoppers abandon the cart because they can’t calculate the total cost. So, offer the calculation up-front. For those who believe that they can trick their customers by presenting them with the lower number, just remember that hidden extra costs are responsible for 55% of all abandoned carts.
28. Improving the security of your site can make 35% of people stay.
According to some estimates, 35% of people leave due to the fact that your site is not deemed secure. So, by improving the security of the site, you could make them stay. Now, you should also recollect that 75% of them leave because the site is too slow to load. In other words, by improving the technical aspects of your site, you can impact the shopping cart abandonment in the right way.
29. In 2019, 35% of people abandoned the shopping cart because they were asked to register an account.
One of the most relevant shopping cart abandonment statistics from 2019 was the fact that 35% of people abandoned the shopping cart because they were asked to register an account. Sure, this can facilitate their future purchases and give a retailer a greater insight into who they’re dealing with. Still, it’s clear that pushing your buyers to register is a bad idea.
30. 26% of customers will return if retargeted.
Just because someone has left your website doesn’t mean they’re lost for good. In fact, a good retargeting campaign can result in as many as 26% of these customers returning to the website. Due to the fact that this is also a low-cost marketing strategy (since it already targets qualified leads), it is definitely an investment worth considering.
As you can see, these shopping cart abandonment statistics are quite staggering, but they also have an optimistic note to them. They indicate just how much room for improvement an average ecommerce business has.
By figuring out why buyers are leaving without purchasing anything, businesses can understand the checkout process a lot better, as well as realize how they can improve it. Also, understanding customer behaviour (and this is one of its integral parts) can bring retailers one step closer to their target audience.
What is a good shopping cart abandonment rate?
It is impossible to completely eliminate the shopping cart abandonment phenomenon. Since the industry average is 69.57%, having an abandonment rate that’s lower than that means you’re well above average. Still, it’s wiser to compare your abandonment rate to your own industry. It is believed that the optimal checkout process (one without any innate flaw of its own) would have an abandonment rate of just 20%.
How is the abandonment rate calculated?
The calculation is quite simple. The majority of online shopping processes have a shopping cart creation as an initial step. This is where the potential buyer (or e-store visitor) marks all the items they are potentially interested in. The shopping cart abandonment is then calculated by dividing the total number of completed purchases with the number of created shopping carts. Finally, you need to subtract the result from 1 and multiply it by 100 in order to turn the number into a percentage.
Why is shopping cart abandonment a problem?
This is because every instance of cart abandonment signalizes a potential loss of profit. As we’ve already mentioned, it is calculated that the annual global loss of profit caused by these abandonments goes to a staggering $4 trillion. About $260 billion of this money can be salvaged by improving one’s checkout process.
Another problem caused by this is the demoralizing effect that a shopping cart abandonment causes. In the eyes of a retailer, every single loss of these potential buyers is a failure of their ecommerce business.
How do you stop a shopping cart abandonment?
Reducing a high shopping cart abandonment rate is not an easy task. First, it requires the optimization of a shopping cart process. Next, it requires an in-depth analysis of both your target audience and their reasons for abandoning your shopping cart. Then, by addressing these issues one-by-one, the numbers should start going in the right direction.
What are the negative effects of shopping cart abandonment?
Negative effects of shopping cart abandonment are loss of profits and a demoralizing effect that it has on the retailer in question. If retailers lack the analysis of the reasons people dropped out, it may cause a bad future retail strategy. For instance, they may assume that a certain product or category is far more interesting to buyers than it actually is. This would cause them to order a stock that they won’t sell for quite a while, thus immobilizing an important part of their capital.
When it comes to prioritizing based on shopping cart abandonment statistics, it can improve an overall business strategy.