Cart abandonment and sales rates for 2016
Shopping cart abandonment is a hot topic now among ecommerce retailers. The potential lost revenue is huge. According to the most recent BI report (Shopping Cart Abandonment – November 2016), approximately $2.75 trillion of recoverable sales were left behind in shopping carts in the past year. Ecommerce is also changing now that people are shopping on mobile as well as desktop. I decided to analyze our clothing retail customer data to see what percentage of sales were mobile versus desktop, and what percentage of abandonments were mobile versus desktop. These numbers can also help to target the websites’ audience properly.
Of our online fashion retailers the last 3 months:
45% of sales were on mobile
55% of sales were on desktop
58% of abandonments were on mobile
42% of abandonments were on desktop
Mobile traffic and sales is on the rise. The rise in mobile usage is also creating a rise in abandonments. This means that abandonment emails and email me my cart tools are more important than ever. People will convert on desktop after sending their cart from mobile. Ecommerce retailers need to make sure their sites are mobile friendly and their carts are mobile friendly.
According to BI Intelligence’s latest article (Shopping Cart Abandonment – November 2016), the top reasons for abandonment are:
Shipping costs, taxes or other fees that are added at checkout. (61%)
Site requesting that an account be created in order to check out (35%)
Checkout takes too long, or is too complicated (27%)
Couldn’t calculate the order cost up front (24%)
The average abandonment rate that the AbandonAid platform measured for 2016 was a whopping 81.42%! That is a huge amount of potential revenue lost to abandonments. Creating a mobile friendly site, using email me my cart, and avoiding surprise fees at checkout by making shipping included can help curb this high abandonment rate.
Why you need to learn about AMP
A whopping 33% of people use their smartphone as their primary internet browsing device! Learn all about AMP and why it is so important for businesses now that mobile use is soaring. https://blog.hubspot.com/marketing/am-guide-accelerated-mobile-pages
Top Gifts This Holiday Season
The top gifts this holiday season- Pokemon, Hot Wheels, Lego, Barbie and Frozen for kids. Google Home, Amazon Echo, and Playstation are also popular gifts. What are you buying your loved ones this holiday season? Anything big missing from this list? Tell us about it!
Product Analytics- A Tool You Can’t Live Without
We are in the midst of the holiday season. The year’s shopping peak is here. How do retailers know which products to promote, which sells the best, which product gets abandoned the most?
Abandonaid now offers product analytics; complete with links and images to each product on the ecommerce site. You can see which product makes you the most revenue, and which the least. Having product knowledge can help retailers market their stores more efficiently, and offer sales and discounts accordingly. An example of Abandonaid’s product analytics tool is shown below.
Items can be sorted by price, revenue (over a specified period of time), sales, sold units, abandonments, and more. Each item links to the product’s page on the website.
Clients who are now using this product don’t know how they got by without it!
Good luck to all retailers this holiday season.
Ecommerce more than 50% of Thanksgiving weekend sales
Thanksgiving weekend through Cyber Monday:”… most people were quite comfortable shopping from a couch or a dining room table rather than going to stores.” More than half of the sales generated were ecommerce sales. Also, mobile sales are growing and becoming the method of choice for retail shopping. Online sales surpassed predictions by Adobe Digital Insights!
Happy Thanksgiving! Is it the best holiday for ecommerce sales?
Happy Thanksgiving to all ecommerce retailers! Thanksgiving is actually a huge shopping day for online stores. While physical retailers are closed, many people still shop online! Wishing a successful shopping season to all.