According to Sleeknote, 7 out of 10 potential sales are lost in the final stage of the funnel due to cart abandonment.
In this download we will cover:
- Why does cart abandonment rate matter?
- What causes cart abandonment?
- Tips to tackle abandoned carts
Why should you care about cart abandonment?
It’s an important metric to flag up any issues with your site and highlights potential lost revenue.
If your monthly revenue is £20,000, you could be missing out on £168,000 extra revenue a year. However, realistically you won’t convert 100% of sales so, by even converting 10% of those cart abandonments would bring in an extra £16,800 a year.
Now who doesn’t want more revenue?!
Through our work with clients, particularly in conversion rate optimisation, we often see similar issues cropping up across a range of industries. One of the main culprits for lost revenue is the basket and checkout process.
On average, we see a 30% increase in the number of transactions and 20%-30% increase in revenue when optimising checkout flows for our clients.
“By improving the checkout experience, we make it an easier shop overall for our customers. They then pass on the feedback, etc. They may even refer a friend by saying how easy and simple it was. An easy way to annoy a customer straight off the bat is to make it difficult for them to purchase.”
David, Client Performance Director