Abandoned Cart Stats to Know in 2022
Is there anything more frustrating than a high abandoned cart rate? It shows you are doing something right — consumers like your product — but along the way, shoppers fall off and never complete the purchase.
While abandoned cart rates are a way of life for retailers and eCommerce stores, it doesn’t mean you have to settle for super high numbers. Instead, learning about why consumers abandoned carts can help you develop strategies that will help you lower those rates and improve your customer experience.
Here are some key stats to know about abandoned cart rates for 2022. Planning now can improve your results and boost your revenue moving forward.
What is the cart abandonment rate?
Let’s start with the first thing you need to know. What is the average abandoned cart rate?
It’s time to rip the bandaid off. According to the Baymard Institute, 69.8% is the average abandoned cart rate of 44 studies on eCommerce shopping rates.
Why do customers leave items in their shopping carts?
There are a variety of reasons why a consumer will decide not to purchase.
The biggest one is surprise fees, such as shipping or taxes. Other complaints included the need to set up an account, lack of trust for site security, and a complicated checkout process.
Does improving the checkout experience make a difference?
Here’s the good news, you can revamp your checkout process to fix a lot of these problems and improve customer experience. For example, let customers check out as a guest, inform them of shipping costs, taxes, and fees before they get to the final checkout page, and make sure you display site security features.
While these solutions will not convert every customer, you can lower your overall abandonment rate by removing some speedbumps from the checkout process.
If you improve your checkout, Baymard estimates retailers and eCommerce brands can see a 35% increase in conversion rate. That’s huge.
Do devices matter?
With more and more people shopping via their phones, especially over the busy holiday seasons, you may wonder if devices matter.
It turns out they do. Consumers who shop on their phones have a much higher abandoned cart rate than those shopping via desktop. Studies have shown phone cart abandonment rates can creep higher than 80%! That’s a pretty significant jump.
Here again, is where testing your checkout experience matters. If you’re asking users to do a lot of extra steps on their phone, they will bolt and look for an easier way.
How email makes a difference
Another way to help improve your abandoned cart rates is to use email to your advantage.
While abandoned cart email open rates have dropped over the last few years, these emails are still opened about 42% of the time. Compared to most other campaigns, that’s a big number.
So capitalize on that. Make sure you have an abandoned cart campaign crafted to do more than simply remind consumers but reengage them and get them to convert.
Another study found that cart abandonment emails have shown a 6.5% decrease in abandonment and a 20% increase in online sales. Ask any retailer and eCommerce shop if they’d take a 6.5% decrease in their cart abandonment rate, and the answer should be a resounding yes.
That shows you the power of using email marketing.
Smart Blocks and Smart Banners can make all the difference. Using image personalization and animation, you can send dynamic emails with abandoned cart reminders and updates that feature specific items, including images and reviews. Plus, with a personalized call to action, it’s incredibly easy for your readers to click and complete their purchase.
Zembula can help
Want to give lowering your abandoned cart rate a shot? We’d love to help. Zembula makes it easy, through drag and drop templates that only need a snippet of code, to transform your average email campaign into something that engages and drives action.
If you want to learn more and give Zembula a spin for your campaigns. Get in touch. We’re here to answer any questions and help you get more opens, clicks, and conversions.