20+ Cart Abandonment Stats To Reduce Your Lost Sales In 2023
20+ Cart Abandonment Stats To Reduce Your Lost Sales In 2023
Cart abandonment is one of every e-commerce site owner’s nightmares. They constantly search for ways to resolve this pain point and sustain their ROI.
In this guide, we collected some up-to-date cart abandonment stats and numbers from our databases regarding abandoned cart emails to help you understand what may restrain online shoppers from buying and restore your sales revenue.
To enable you to find what you’re looking for faster, we’ve broken this guide down into a few handy sections based on the source of wisdom you seek.
General Cart Abandonment Rate Statistics
Let’s begin with more generic information regarding this topic:
- A staggering average of approximately 69% of online carts is abandoned by users (Moosend, 2021).
- According to a recent study by Baymard Institute, this rate ranges from 56% to 81% based on different factors, such as industry or region.
- The highest cart abandonment rate is in the Caribbean (92.2%) and the lowest in Asia & Pacific (76.3%).
- Plus, B2C businesses that use automated workflows to resolve cart abandonment witness a 50% increase in conversion rate (Moosend, 2021).
- Products in abandoned shopping carts can reach up to $4 trillion annually.
- Retargeting ads bring up to 26% of abandoners to your website.
- The cart abandonment rate for Black Friday is 76.63%. For Cyber Monday, the rate reached 80.25 (SaleCycle, 2021).
Here’s how the shopping cart abandonment rate has evolved over the years based on Statista:
Hence, many online shoppers leave products on their cart and never complete a purchase, but if you implement appropriate digital marketing tactics, you can remove this barrier. We’ll show you how later on.
Abandoned Cart Email Stats
Here at Moosend, we want to learn all things email marketing to help you thrive in this area. That’s why we recently conducted a Moosend survey based on numbers on our database to understand how effective abandoned cart emails are. Here’s what we found:
- More than 40% of cart abandonment emails are opened, and this rate can reach up to 45%.
- 50% of cart abandonment emails are clicked on, and 21% of the opened emails receive click-throughs.
- 50% of the users who clicked purchased: Half of the recipients who engaged with the content of the email completed their purchase.
We think that the evidence is clear. Abandoned cart emails are a powerful tool to regain those people’s attention and help eCommerce brands bring them back to your eCommerce site and checkout page.
If you’re ready to create effective abandoned cart emails to boost your ROI, sign up for a Moosend account ASAP, pick one of our ready-made templates, and make magic to increase your conversion rates.
Industry-Specific Cart Abandonment Stats
Now let’s dive into some shopping cart abandonment benchmark data according to the industry you’re in, emphasizing online retailers:
- The highest average cart abandonment rate is in the Cruise and Ferry industry, reaching up to 98%, and the lowest in Consumer Electronics and Groceries (50%).
- The cart abandonment rate for Luxury and Fashion is approximately 88%, and in Retail, it reaches up to 71.2%.
Here’s what our Moosend study revealed for different industries:
- Finance has the highest cart abandonment rate (83.7%), followed by Travel (82.2%), Non-profits (82.1%), Retail (77.3%), Fashion (67.6%), and Gaming (67.4%).
This information will help you realize where you stand among your competitors and how much you should invest in cart abandonment recovery tactics.
Cause-related Shopping Cart Abandonment Stats
Here are some main reasons why many online customers leave their shopping carts behind. This is excellent input for eCommerce brands wishing to reduce cart recovery:
- Shipping-related reasons contribute to over 60% of carts being abandoned.
- 37% of online shoppers left the site because they didn’t want to create an account.
- 28% of website visitors left due to a complicated checkout process.
- Finally, issues with payment, such as a lack of favorable payment methods or declined credit cards, can play a role but are lower in rank.
Average Shopping Cart Abandonment Rate By Device
Do things differ based on the devices online shoppers use? Here are some fresh device-related stats mentioned in the Baymard Insitute report to have in mind:
- Mobile users have a higher cart abandonment rate of 85.7%.
- Desktop users have a lower cart abandonment rate at 73%, while tablet users at 80.7%.
- Almost four out of ten mobile users leave their online shopping cart because completing their personal information at checkout is hard.
5 Best Practices To Recover Cart Abandonment Lost ROI
Hopefully, these cart abandonment stats have started to resolve the feeling of powerlessness you may have. So when you start feeling that your eCommerce business is getting affected by your online shopping cart abandonment, here are some stellar practices to consider:
1. Send cart abandonment email campaigns
As stated earlier, abandonment cart emails have high open and click-through rates, so it’s worth investing in them. To build them, you need marketing automation software like Moosend or Mailchimp and set the appropriate triggers and conditions.
At Moosend, you can find a premade cart abandonment recipe to save time:
But how can you build a cart abandonment email that will stand out in your subscribers’ mailboxes to drive the best possible results? Here’s what to consider:
- Create an appealing subject line that reflects the email content to maximize open rates.
- Craft a clear email design with a CTA button that pops out.
- Write actionable copy that poises a sense of urgency.
- Provide an incentive, such as a coupon or free shipping costs, to make it more indulging.
- Add attractive product images to increase conversions.
Here’s an amazing cart abandonment email by Jack Wills. The content is personalized for each recipient to make them feel unique, and apart from abandoned products, they include similar recommendations, too.
They’ve also added two attractive incentives, free delivery and sales up to 50%. Overall, removing extra costs motivates abandoners to reconsider completing their purchase.
Subject line: Your basket is having abandonment issues… 🙁
Ready to create your next email campaign? Sign up for a Moosend account, hop on our editor, and build stunning newsletters.
Do you need to increase your open rates? Try Moosend’s free subject line tester “Refine” to boost your metrics.
2. Optimize the checkout design
But what about the user experience of your eCommerce website as a whole? Easy website navigation is critical in increasing and sustaining your e-commerce sales, and you need many data points to set it up successfully. Notable eCommerce builders like Shopify and Wix usually have everything you need to build a customer-friendly site.
And where should you pay extra attention to lower your cart abandonment rates? The checkout page design. Many customers tend to leave at this stage because of the prolonged account creation process online stores request. Therefore, you should shorten that valuable step.
Look at the options H&M gives prospective buyers to find the best customer service for them:
Hence, eCommerce brands should include a guest checkout option with minimal form elements to allow more hasty customers to complete their purchases. Keep only the essential form fields during the registration process to make it easier for them to convert.
Finally, place important information, such as return policy or shipping details, at prominent places during the customer journey for those looking for them.
3. Create retargeting ads
Apart from reaching out to cart abandoners via email, you can also “chase” them in different channels, such as social media, by creating retargeting ads if you have some extra budget to spend. Considering these people have already expressed a genuine interest in your brand, you will likely attract their attention again.
But what makes a retargeting ad excellent? You can showcase the products they left behind or similar ones to attract their attention. Add actionable copy that implies urgency to make them click faster, and design a practical CTA button.
Check out this amazing paid ad by Casper, with great copy and a 30-day free-trial incentive:
Finally, you can consider adding an incentive to make your offer more attractive, especially if you want to uplevel your sales during popular seasons, such as Black Friday or Christmas.
4. Offer multiple payment options
Another deal-breaker for cart abandoners is a lack of the payment methods some eCommerce stores provide. Many consumers hesitate to share their credit card information as they don’t always trust their purchasing sites.
If you want to include those customers, add more flexible payment options, such as PayPal, and enable more people to convert.
5. Improve user experience across devices
The statistics above show that mobile devices are linked to higher abandonment rates. Therefore, it’s important to ensure that your eCommerce website customer experience is stellar for all devices to reduce those rates.
This practice has to be implemented for additional assets aiming to reduce cart abandonment, such as your email campaigns. Many email marketing services like Moosend offer mobile-responsive email templates to bridge that gap successfully.
We hope these cart abandonment statistics will help you put things into perspective and find the right solutions to retrieve your lost revenue. There are suitable tactics for every type of business, from optimizing your checkout flow to planning retargeting ads.
We are more than happy to help you handle the most affordable, winning tactic – abandoned cart emails! Sign up for a free trial today, play around with your top-notch features, and bring your lost customers home.
Cart Abandonment Stats FAQs
Are you a cart abandonment novice? Here are some things you might want to know:
1. What is cart abandonment?
Cart abandonment occurs when a potential customer who has added items to their shopping cart leaves your website without purchasing.
2. How can we resolve cart abandonment?
You can take certain measures, such as optimizing user experience across devices, improving your average checkout time, and planning abandoned cart emails or retargeting emails.
3. What is a healthy cart abandonment rate?
A standard cart abandonment rate is 68.53%, according to a Baymard Institute study, but it varies across industries.
4. How can I use cart abandonment stats?
You can use them to see where you stand in your niche market and understand why most customers abandon their carts to take relevant action.