What is Cart Abandonment?

What is Cart abandonment?

Cart abandonment is a common and exasperating event in the super-fast world of e-commerce. The act of potential buyers adding products to their online shopping carts but then leaving the website before making a purchase is referred to as this. To increase conversion rates and realize dormant potential, organizations must fully grasp the idea of cart abandonment. By addressing this topic head-on, we go into the depths of cart abandonment in this blog.

“A cart is considered abandoned when the customer leaves the checkout page unattended for 30 minutes or when they close the page and do not come back to it within 30 minutes.”

Table of Content

Industry Stats

  1. E-Commerce Brands Lose $18 Billion in Sales Revenue Each Year Because of Cart Abandonment.
  2. Cart abandonment can leave an extensive gap in conversions. For instance, a 65% cart abandonment trend leaves a 97.9% gap in conversions.

Effect of Cart Abandonment

Cart abandonment can affect e-commerce companies in several ways, including:

Lost Revenue: When customers leave their shopping carts empty, the firm misses out on sales chances and faces money loss. The potential clients who showed interest in the products did not become actual clients.

“Cart abandonment is the silent killer of online sales.” – Chris Goward, founder of ConversionXL

Lower Conversion Rates: High cart abandonment rates indicate a hole in the conversion funnel, which lowers the company’s total conversion rates.

Increased Marketing Costs: To get people to visit their websites, businesses often spend a lot of money on marketing and advertising. When shoppers leave their shopping carts empty, marketing activities could be futile and result in higher marketing expenses without the required return on investment.

Experts Views

“Cart abandonment is one of the biggest challenges facing online retailers. The average abandonment rate is 69%, which means that for every 100 shoppers who add items to their cart, only 31 will actually checkout”:- Chris Goward, founder of ConversionXL

“Cart abandonment is a huge problem for online retailers, but it’s not insuperable. By understanding the reasons why shoppers abandon their carts, and imposing the right strategies, you can significantly reduce your abandonment rate and boost your sales”:- Jeff Eisenberg, founder of Growth Hacker Marketing

Author Profile

Deepak Kashyap
Deepak Kashyap
A CX expert, keynote speaker, and author, Deepak Kashyap has over 25+ years of experience. His talks on the subject are published on most prestigious forums, and his books have helped to spread awareness about how improving customer experiences can boost sales. Deepak is a prominent speaker who shares his expert opinion about customer experience.

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