From Geotelecom, we had wondered what leads users to abandon the web during their online purchase process, and consequently, what is the average percentage of abandoned carts? in digital commerce.
To answer this question, we have analyzed the relationships that may exist between the abandoned carts of an ecommerce and its level of traffic (users, new users, sessions), investment in its advertising section on Google, transactions, revenue and the vertical to which the company belongs.
Before presenting the conclusions drawn from the study, we will describe the action route taken to reach this conclusion.
First stage: data collection
Data that were influential, or considered essential, in order to carry out the study were collected. These data are:
- Investment in SEM.
- Users.
- New users.
- Sessions.
- Transactions.
- Income.
- Abandoned carts.
It was carried out on an individualized basis per client, collecting these data in a period of 12 months prior to the date of initiation of the study. Data were collected from 36 companies. A small sample population. Despite the size, the study was continued in an attempt to achieve the objective of the study.
Second stage: grouping and distribution
The companies were grouped into similar groups and distributed to each member of the project in order to be able to carry out the following actions in a more comfortable way:
- The total number of abandoned carts for the 12 months recorded was added up.
- The deviation of abandoned carts in consecutive monthly periods was calculated.
- The total number of users for the 12 registered months was added up.
- The deviation of users in consecutive monthly periods was calculated.
- The total number of transactions in the 12 months recorded was added up.
- The deviation of transactions in consecutive monthly periods was calculated.
Third stage: correlation calculations
Once the aforementioned data had been calculated, we proceeded to calculate the correlations between the metrics obtained: users, transactions and abandoned carts.
The result in this last stage yields the information that was assumed: there is no precise relationship between these factors and abandoned carts.
What results did we get about ecommerce cart abandonment rate?
There is no universally acceptable abandoned cart rate for all ecommerce, as this depends on several factors such as the type of product or service offered, the target market, the industry and the size of the business.
However, in general terms, it is considered that a trolley abandonment rate of 60-70% is common for most ecommerce sites. In other words, out of every 10 visitors who add products to their shopping cart, only 3 or 4 will end up making the purchase.
Although the percentages may vary according to the type of product or service offered and the target market, the following is a general pattern overall estimate of cart abandonment rate by sector:
1. Fashion and accessories: 70-75%
2. Technology and Electronics: 65-70%
3. Home and garden: 65-70%
4. Toys and games: 60-65%
5. Food and Beverage: 55-60%
6. Health and Beauty: 55-60%
7. Automobiles and motorcycles: 50-55%
8. Furniture and Home Decor: 50-55%
9. Sports and outdoor activities: 45-50%
10. Travel & Tourism: 40-45%
It is important to note that these are only estimates and that cart abandonment rates can vary significantly from business to business within each industry. In addition, implementing abandoned cart recovery strategies can help reduce cart abandonment rates in any industry.
What are the most common causes of cart abandonment in ecommerce?
Some hypotheses that could be considered for a study of cart abandonment in an ecommerce are reflected:
1. The length and complexity of the checkout process affects the cart abandonment rate. If the checkout process is too long, complicated or requires too many steps, customers may become discouraged and abandon their shopping cart before completing the transaction.
2. Shipping costs and other additional charges can be a common cause of cart abandonment. Customers may decide to abandon their cart if they realize that the shipping costs are too high or if there are other additional charges they were not expecting.
3. Lack of payment options can be a cause of cart abandonment. If an ecommerce site does not offer payment options that customers prefer, such as PayPal or specific credit cards, it can lead customers to abandon their cart.
4. Lack of confidence in the security of the site and the checkout process can lead customers to abandon their carts. If customers do not feel safe providing their personal and payment information on an ecommerce site, they may decide to abandon their cart and look for a more secure alternative.
5. The mandatory registration process before making a purchase can be a factor in cart abandonment. If the registration process is too long or cumbersome, customers may abandon their cart and look for a more user-friendly alternative.
6. Lack of clear information about the product or service may lead customers to abandon their cart. If customers cannot find the information they need about the product or service they are considering purchasing, they may decide to abandon their cart and look elsewhere for information.
7. Lack of incentives to complete the purchase, such as discounts or promotions, can be a factor in cart abandonment. If customers do not feel they are getting a good offer or benefit for completing their purchase, they may decide to abandon their cart and look for a more attractive alternative.
What did you think of this study? Within the services of Geotelecomas 360º marketing agencyThe program also includes assessing your particular case so that you can get the most out of your business.
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