When a number of customers add products to their carts but then leave the website before completing the purchase, this process is known as cart abandonment rate.
According to a study done by the Baymard Institute, the average cart abandonment rate for travel websites is 56.67%.
According to a study done by Statista, the average cart abandonment rate for e-commerce websites is 69%.
The cart abandonment rate mathematically can be defined as – (number of abandoned carts / of initiated carts) * 100.
Example Calculation:- Suppose in one month you had 600 initiated carts, out of which 300 were abandoned. To figure out the rate of abandonment we will -:
(300 / 600) * 100 = 50%
This indicates that your cart abandonment rate was 50% for that particular month.
Get Useful Customer Insights: The cart abandonment rate offers good information about the ways of a buyer, like their preferences, intentions to purchase items, and points of resistance throughout the checkout process. That way businesses can understand better about their customers and modify their strategy by analyzing the data.
Detecting Conversion Roadblocks: High cart abandonment rates might point to particular steps in the checkout process where customers may be experiencing problems. Businesses may enhance their websites or checkout procedures by recognising these obstacles, simplifying the procedure and dropping conversion barriers.
Increase Retargeting Opportunities: Place efficient retargeting efforts must be put in by the firms after evaluating the cart abandonment rates.
| Industry | Cart Abandonment Rate |
| Beauty and personal care | 84.9% |
| Home and furniture | 80.99% |
| Fashion, accessories, and apparel | 78.93% |
| Pet care and veterinary services | 72.4% |
| Consumer electronics | 70.65% |
| Grocery | 61.13% |
| Travel | 56.67% |
| Food delivery | 53.29% |
| Automotive | 47.22% |
| Desktop | 60.43% |
| Tablet | 63.64% |
| Mobile | 78.98% |
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