Send to a Friend





Send to a friend   

eCommerce, e-commerce, Marketing, Strategy, Statistics, retail, blog RSS  

Online Business Strategy & Marketing

  

eCommerce - Understanding shopping cart abandonment

June 3rd, 2008 by Stephane Lagrange
1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 4.67 out of 5)
Loading ... Loading ...

shoppping cart empty ecommerce

The success of an eCommerce website greatly depends on how easy it is for customers to go through checkout and purchase an item. Online shopping carts are a feature that “brick and mortar” owners tend to take for granted but which has a huge impact on sales conversion.

It is now common knowledge that more than half of online shopping carts are abandoned before customers check out. The main reasons are usually related to usability issues but lately more price conscious consumers tend to spend more time browsing and price comparing before actually making a purchase.

One recent study from MarketLive states that the rate of shopping cart abandonment has risen in the last year with an overall conversion rate that has stayed stable:
- in Q1 2008 shopping cart abandonment represented 59.43% compared to 57.88% in 2007
- in Q1 2008 sales conversion was 3.96% compared to 3.94% in 2007

Shopping cart abandonment rates Q1 2008

A survey from Paypal and Comscore in Spring 2008 explains the main reasons for shopping cart abandonment:
- for 43% the shipping charges were too high
- for 36% the total cost of purchase was more expensive than anticipated
- for 27% customers wanted to price compare before buying
- for 16% customers could not contact customer support
- for 14% customers forgot their username and password on the merchant’s website

The trend of shopping cart abandonment has shifted from consumers being worried about site security when giving out their banking information, to buyers wanting to find the best deals and figuring out the total cost of purchase (including shipping costs and service plans) before making a transaction.

No tags for this post.

Posted in eCommerce


(comments are closed).

About Online Business Strategy & Marketing

WebTarget offers Strategic Consulting services in order to help organizations define the appropriate web strategy that will maximize online conversions for defined business goals and monetize online assets for website such as audience, content, products and services.