Abandoned Cart Recovery Statistics 2020

Let’s take a minute to look at a scenario…

You plan to do some online shopping, so you take yourself over to the eCommerce website of your choice. You’ve added one or even multiple items to your cart or basket. You start the checkout process and enter your personal information, along with your payment information.

Before you proceed, the baby starts crying or the phone rings, and you quickly close the browser window.

The above is a prime example of someone abandoning their cart.

Statistic: Online shopping cart abandonment rate worldwide from 2006 to 2019 | Statista
Find more statistics at Statista

According to Statista, the average online shopping cart abandonment rate worldwide in 2019 was 69.57%. Almost 7 out of 10 people didn’t make a purchase they added to their cart. However, this statistic isn’t all doom and gloom.

For an eCommerce company, this is an opportunity. They know you were interested in buying products. In fact, they knew the exact products you were interested in. This provides them with valuable data that they can use to try and win your custom back.

Let’s take a look at some interesting abandoned cart recovery statistics in 2020…

 

General Abandoned Cart Statistics

  • eCommerce brands suffer $18 billion in sales revenue losses each year
  • Checkout optimisation can help to increase conversions by 35.62%
  • Extra costs like shipping and taxes are the number one reason why shoppers abandon their cart
  • Being made to create an account during checkout is the second reason for abandonment
  • 7.57% of shoppers will abandon their cart if the page takes more than 3 seconds to load
  • The ideal number of fields during checkout is 12 to reduce the abandonment rate
  • 81% of eCommerce shoppers between the ages of 18-65 abandoned a purchase at least once
  • Free shipping can help to win back custom via abandoned cart recovery emails
  • Automated cart recovery emails can help to lower cart abandonment rates

Abandonment Rate by Sector/Industry

  • The travel industry forms the highest abandonment rate with 81.8% of carts being abandoned
  • Clothing represents the most abandoned product
  • Retail abandonment rate is 72.8%
  • The gaming sector has the lowest abandonment rate of 64.2%

Abandoned Cart Rate by Device

  • Mobile users have a higher abandonment rate of 85.65%
  • 80.4% represents the average abandonment rate on a tablet
  • Desktops form the lowest abandonment rate of 73%

Abandoned Cart Recovery Statistics

  • More than 40% of abandoned cart recovery emails are opened
  • 28.3% of online sales revenue is generated from successful abandoned cart recovery emails
  • Conversion rates of 4.64% are due to abandoned cart recovery emails
  • The non-profit industry achieved an open rate of recovery emails of 56.84%

Time and Location Statistics

  • The most common times for abandoned carts are between 1pm-2pm and 6pm-9pm
  • Asia and the Pacific Islands have the highest abandonment rate of 76.3%
  • Almost 90% of carts are abandoned during the weekend
  • Shopping cart abandonment in North America is 74%
  • European countries have the lowest cart abandonment rate of 70.9%

Ad Retargeting Statistics

  • Retargeting ads are 76% more likely to get clicks than normal display ads
  • 30% of online shoppers report a positive experience due to retargeting ads
  • 72% of millennials like retargeting ads
  • Personalised ads are three times more likely to be successful than normal ads
  • The best platforms for remarketing ads are Facebook and Google Display Network

Reasons for Cart Abandonment Statistics

  • 17% of shoppers abandon their carts during checkout due to concerns around security
  • 10% of shoppers abandon their carts because there isn’t enough choice of payment methods
  • 46% of shoppers abandon their carts due to coupon or discount codes not working
  • 55% of shoppers abandon their carts because they had to re-enter credit card information
  • Extra costs like shipping and taxes are the number one reason why shoppers abandon their cart
  • Being made to create an account during checkout is the second reason for abandonment
  • 7.57% of shoppers will abandon their cart if the page takes more than 3 seconds to load
  • 80% of shoppers are deterred from completing a purchase due to a poor returns policy

 

References

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