Cart abandonment is a significant challenge for ecommerce businesses across all industries. It occurs when potential customers add items to their shopping cart but leave the site before completing the purchase. Understanding cart abandonment rates and their variations across different sectors can help businesses develop targeted strategies to reduce abandonment and increase conversions.
Average Cart Abandonment Rate
- Global Average: The global average cart abandonment rate is around 69.57%, according to research by the Baymard Institute. However, this rate can vary significantly depending on the industry.
Industry-Specific Cart Abandonment Rates
1. Retail
- Average Rate: Approximately 72.8%
- Factors: High competition, price comparison, shipping costs, and lack of preferred payment options.
- Strategies: Streamlined checkout process, transparent pricing, free shipping options, and multiple payment methods.
2. Fashion
- Average Rate: Approximately 74.2%
- Factors: Size and fit issues, style comparison, discount hunting, and return policies.
- Strategies: Size guides, virtual try-ons, detailed product descriptions, and easy return policies.
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