Consumers Abandoning Carts Online
Consumers have always bailed out and abandoned
shopping carts online but recent reports are putting numbers to the cost
of this problem for websites that fail to close the deal with their customers.
According to an e-tailing group survey, 60 percent
of online retailers are seeing shopping carts abandoned by 20 percent of
consumers on their websites this year.
Another study by PayPal and comScore found
that 45 percent of online shoppers in the U.S. had abandoned shopping carts
on multiple occasions in a recent three-week period. The average value
of abandoned carts was $109.
With the numbers clearly suggesting an upside
to reducing the number of carts being abandoned, it begs the question, “Why
are consumers opting not to buy?”
According to PayPal and comScore, high shipping
fees is tops on the list of why shoppers leave carts behind. Forty-six percent
of those surveyed, eMarketer reports,
said the high cost of shipping was a “very important
reason” in their decision not to go ahead with an online purchase. Consumer
wanting to comparison shop was ranked second at 37 percent.
Other factors behind abandoned shopping carts
- A lack of money (36 percent)
- Searching for a coupon (27 percent)
- Choosing to shop offline (26 percent)
- Not able to find preferred payment option (24 percent)
- Item out-of-stock at checkout (23 percent)
- Inability to locate customer support: (22 percent)
- Security concerns (21 percent).
"Sweetening the deal with free shipping, coupons and special discounts
is a great way to encourage online shoppers to complete their purchases," Eddie
Davis of PayPal, told eMarketer.
Do you think the rate of abandoned shopping carts is rising or are these
studies measuring blips in consumer behavior? What are the most effective
steps retailers can take to reduce the number of abandoned carts?