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Three in four carts abandoned by consumers during Q1 2016

Shopping cart abandonment continues to be one of the biggest pain-points for the e-commerce industry.

A recent SaleCycle study shows an average cart abandonment rate of 74.32% across all regions during this year’s first quarter. The study, taken from a consolidation of results of over 500 global brands, looks at all the key cart abandonment and corresponding email, on-site and SMS remarketing stats from January, February and March 2016.

Why do consumers abandon carts?
There are numerous studies to reference why consumers abandon their carts. The most consistent, frequently cited reasons — that of unexpected shipping costs, having to create a user account, or research for later purchase — typically center around transparency and usability.

Slight decrease in cart abandonment rate
While high at just over 74%, Q1’s rates do show a slight decline from recent quarters — 76.6% in Q3 2015 and 75.45% in Q4-2015. The report identifies website personalization showing relevant content as well as proactive use of customer feedback and analytics as contributing factors to the declining abandonment rate.

Mature e-commerce markets such Europe and North America that exploit consumer data to deliver consumer convenience have the lowest abandonment rates of 71.5% and 73.1% respectively. The highest abandonment rate in the world was in Asia Pacific at 75.9% . Though no region differed from the global average by more than 2.8%.

Tags: Research, Marketing

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