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Feb 1, 2012
A new study by SeeWhy's Conversion Academy declares that despite most companies' fears of cart abandonment, for many customers it is, 'an important part of the normal buying cycle,' and not a rejection of the company or the store. On average, 71 percent of shopping carts are abandoned, with 44 percent of customers surveyed noting shipping and handling costs were too high, 41 percent saying they were not ready to purchase the product, and 27 percent declaring that they wanted to compare prices on other sites, according to a 2010 report by Forrester Research.
Eighty-one percent of online merchants believe that the majority of abandoners never return. However, SeeWhy analyzed the behavior of over 600,000 people and 260,000 online transactions, and found that 75 percent returned to the site within four weeks, and a returning visitor is three times more likely to make a purchase than a new visitor.
In response, the group recommends adopting three strategies for best combating cart abandonment: create a 'permanent' shopping cart that holds items for a minimum of 60 days; communicate with buyers through email remarketing to encourage them to return to complete the purchase; and maintain customer welcome programs to ensure that consumers return to the site, regardless of whether they purchase the first time.
Topic: Wholesale News
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