Shopping cart abandonment is a problem that all ecommerce sites encounter to varying degrees. The rate at which your visitors abandon involves numerous factors, one of which depends on how effective you have structured the checkout process. Likewise, shopping cart abandonment is an important statistic that needs to be managed as it could mean the difference between a profitable ecommerce store and a potential loss.
FACT: According to industry publications, average shopping cart abandonment rates hover between 60% – 70%.
Put into sample numbers, if you have 100 people start the checkout process and 65% abandon it, you just lost 65 sales. To take that further, if your average order value is $50 you lost $3250 in potential revenue!
Not only have you lost immediate revenue but looking at it from a long term perspective, you lost 65 potential new customers as well. This translates to an undetermined amount of future recurring revenue through repeat orders.
The Ecommerce Expert implements tested strategies, careful analysis, and best in class tools to help ecommerce stores consistently reduce abandonment rates and recover more sales.
FACT: Work with The Ecommerce Expert and we will help you lower your shopping cart abandonment.
Contact us today to find out how we can help you win more sales by reducing your abandon rates.