Executive Briefings

Despite Record E-Commerce Sales, 69 Percent of Online Shopping Carts Abandoned

Although e-commerce sales accounted for more than $340bn in 2015, a recent Baymard Institute study revealed that about 69 percent of online shopping carts were still left abandoned. Why so many unfulfilled digital sales?

"Shopping online is like driving and following directions. The more twists and turns that exist (i.e., click-throughs, forms, fields, questions), the more likely the 'driver' will not reach the destination, or at least not quickly," Dan Leberman, vice president of PayPal's North American online small and medium business unit said. "In other words, cart abandonment happens when consumers have steps to complete, and they take time to reconsider their purchase."

According to Leberman, $4tr of merchandise was left abandoned in online shopping carts in 2015 alone—the largest amount of cart abandonment even seen. In addition, he states that research indicates that 63 percent of merchandise in abandoned carts (or $2.52tr) is a recoverable sale for merchants, and three-quarters of surveyed shoppers who abandon carts plan on returning to the website at a later date to complete their purchase.

Read Full Article

"Shopping online is like driving and following directions. The more twists and turns that exist (i.e., click-throughs, forms, fields, questions), the more likely the 'driver' will not reach the destination, or at least not quickly," Dan Leberman, vice president of PayPal's North American online small and medium business unit said. "In other words, cart abandonment happens when consumers have steps to complete, and they take time to reconsider their purchase."

According to Leberman, $4tr of merchandise was left abandoned in online shopping carts in 2015 alone—the largest amount of cart abandonment even seen. In addition, he states that research indicates that 63 percent of merchandise in abandoned carts (or $2.52tr) is a recoverable sale for merchants, and three-quarters of surveyed shoppers who abandon carts plan on returning to the website at a later date to complete their purchase.

Read Full Article