One of the biggest headaches for online retailers is cart abandonment. That is customers who visit your website, scope your wares, put them in the shopping cart and yet don’t buy. How do you persuade them to pay up?
It’s a massive problem according to Econsultancy who say: “Some 75% of abandoners return and are therefore more likely to complete their transaction. Returning is a good sign because shoppers who have abandoned their carts more than once have a 48% rate of being recovered, compared to 18% of first time abandoners.
There are myriad reasons why 68% of shoppers abandon their carts. Their rationale for leaving might be complex, but the impact is not.
Global retailers are losing $3 trillion in sales each year from cart abandonment alone. If retailers are able to make check out secure, consistent, and appealing, then they can convert warm leads into customers.”
How should you deal with it? Needless to say the Econsultancy post has some bright ideas and is well worth checking out.
