CHART: Shipping Costs Are A Top Reason People Abandon Their Shopping Cart
Online shopping cart abandonment - when shoppers put items in their online shopping carts, but then leave a website or app before completing the purchase - is the bane of the e-commerce retail industry. But it's also a huge opportunity: Approximately $4 trillion worth of merchandise will be abandoned in online shopping carts this year, according to BI Intelligence estimates.
BI Intelligence compiled a June 2014 study released by UPS and comScore in the chart below highlighting why so many U.S. shoppers abandon their carts.
Higher-than-expected shipping costs were a top reason people abandoned their shopping cart. For retailers that can afford to lower shipping costs, this is an obvious way to convert more shoppers.
Shipping costs aside, the two top reasons why online shoppers abandon their carts is because they are price-comparing and want to understand what their total costs will be, or because they simply aren't ready to purchase yet. This is actually a big opportunity for retailers, because it means those shoppers are still contemplating a purchase.
- Elon Musk sparks another Shiba Inu rally ‘to the moon’ — other Shiba coins follow suit
- The best wildlife photos of the year show a curious grizzly, dueling reindeer, and fish swimming through a cloud of sperm
- Trading app Public lists shiba inu coin on its trading platform as the Robinhood rival broadens crypto offerings
- The depth of India’s vaccination drive — Gujarat tops the list, UP and Bihar yet to vaccinate a third of their population
- Manchester United owners are getting drawn to the world's biggest cricket league – here's why
- IDBI Bank's net profit jumps 75% despite higher provisions
- Asian Paints' net profit drops 29% on high raw material prices
- Dearness allowance hiked to 31% for central government employees