Shopping cart abandonment remains a major challenge for businesses online, with abandonment rates in the second quarter of 2013 averaging 75%, according to a recent report by SaleCycle.
Online shopping cart abandonment is usually attributed to unexpected shipping costs and long delivery times. However, the study found high abandonment rates across all verticals—including those where shipping/delivery is not a factor, such as travel.
In fact, the average abandonment rate was even higher in the travel vertical (81%) than in the home retail (74%) and fashion (75%) verticals.
In addition, the send rate (the percent of abandoners whom brands are able to contact) was significantly lower in the travel space, with 90% of abandoners remaining anonymous by not leaving an email trail.
The study also found that if an online retailer is able to capture contact information before a cart is abandoned, following up with an email can be lucrative.
The average basket/cart/booking abandonment email generated $6.05 in sales in 2Q13. That amount varied significantly by vertical, with follow-up emails from travel suppliers worth far more ($14.95) than those from home ($4.15) and fashion ($4.61) retailers.
For additional insights from the study, which was based on data from 200 global brands in 2Q13—including Sony, Ralph Lauren, and Millennium Hotels—check out the infographic below.
About the research: The report was based on SalesCycle data from 200 global brands in 2Q13.
