What is Cart Abandonment
Cart Abandonment is a common behavior during the online shopping journey. It can be defined as the process of adding one or more items to the virtual shopping cart (or shopping basket), followed by the action of exiting the online store without purchasing the items in the cart.
Why does Cart Abandonment Matter
Global cart abandonment rates are around 70%. Although a significant issue for eCommerce stores, it is also an opportunity to generate more sales and bring back many of the shoppers who've abandoned their carts.
But cart abandonment is more than one single lost sale. A very common behaviour amongst online stores, it has implications that rollout across various departments:
However, once a visitor leaves items behind, it doesn't necessarily mean your sale is lost - a gentle reminder can direct those shoppers straight back to their carts. This is a crucial part of the Sales funnel - with large marketing budgets spent on driving website traffic, when a prospect leaves the site, eCommerce stores must repeat the process and spend those marketing resources all over again.
We wrote a detailed article on what you can do to ensure you recover as many lost carts as you possibly can, while also building a trust relationship with your potential new customer here.