Cart abandonment is on the increase and the trend looks set to continue…
There’s a good chance you’ve done it today.
If not today, then you’ll almost certainly do it later this week and the majority of times you shop online this year.
‘It’ is cart abandonment – the act of putting something in your shopping cart on a website but not completing your purchase – and in 2014 we will abandon a whopping $3 trillion worth of products across the globe.
The Challange of Abandonment
Most retailers are aware of the challenge that abandonment holds for them, and as SaleCycle revealed in our recent infographic – the average abandonment rate for retailers in 2013 was over 70%.
Well, the headline news (as you can probably tell by the title!) is that this number is on the increase having risen by almost 10% in the last two years alone.
Mobile and Tablet Commerce
With form abandonment rates on mobile and tablet devices around 6% higher than their desktop counterparts in 2013, and mCommerce (Forrester) set to grow and grow, the importance of remarketing to these abandoners shouldn’t be overlooked.
So what’s happened in the last two years to ensure this rise in cart abandonment rates? Well, we’ve all become more savvy as shoppers for a start – taking time to shop around online and look for the right price for our purchase. This has of course been helped by the increase in choice – More retailers stepping away from the high-street and selling online.
It’s a pretty simple formula: More choice + More devices + Savvier Shoppers = Increased Cart Abandonment.
The video was taken from SaleCycle’s webinar – The A-Z of Cart Abandonment – which covers the four most popular remarketing methods that will be used by brands in 2014 – On-Site Remarketing, Display Retargeting, Email Remarketing and Live Chat.
You can watch the webinar in full at www.SaleCycle.com/A-Z