Online shopping cart abandonment is usually attributed to unexpected shipping costs and long delivery times. However, the study found high abandonment rates across all verticals—including those where shipping/delivery is not a factor, such as travel.
In fact, the average abandonment rate was even higher in the travel vertical (81%) than in the home retail (74%) and fashion (75%) verticals.
In addition, the send rate (the percent of abandoners whom brands are able to contact) was significantly lower in the travel space, with 90% of abandoners remaining anonymous by not leaving an email trail.
The study also found that if an online retailer is able to capture contact information before a cart is abandoned, following up with an email can be lucrative.
The average basket/cart/booking abandonment email generated $6.05 in sales in 2Q13. That amount varied significantly by vertical, with follow-up emails from travel suppliers worth far more ($14.95) than those from home ($4.15) and fashion ($4.61) retailers.
For additional insights from the study, which was based on data from 200 global brands in 2Q13—including Sony, Ralph Lauren, and Millennium Hotels—check out the infographic below.
About the research: The report was based on SalesCycle data from 200 global brands in 2Q13.
You may like these other MarketingProfs articles related to Customer Behavior:
- The Factors That Most Influence Buyers of B2B Services
- How to Build Marketing Automation Campaigns That Prompt Desired Behaviors From Your Leads
- How to Use the Awareness Stages to Nurture Leads From MQL to SQL
- Do People Trust Brands to Protect Their Personal Data?
- How to Adapt to Changing B2B Tech Buyer Behavior [Infographic]
- Meh on the Metaverse: How Americans Feel About Virtual Worlds