For many e-commerce websites the biggest loss of revenue happens due to the checkout process. A recent study reveals the following:
A 70% average shopping cart abandonment rate was observed for the majority of retailers. Since, on average, websites convert visitors-to-sales at a rate of 1% to 2% then 98% to 99% of the guests to your website leave without purchasing!
The cart abandonment rate is one the most “stared- at” metric in retail e-commerce, and one that most businesses could stand to improve. But before making changes to their Web sites, retailers need to study and understand the many factors that lead to cart abandonment – not all of which are inherently evil.
