9 Things You Should Know About Abandoned Carts in 2021

...and some that Shopify might not want you to know.🤫

by Olivia Rosales

"There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know."

-Donald Rumsfeld

Here's what we know.

SMS marketing is still in its infancy so we're still receiving a ton of data from stores as we speak, but what we DO KNOW IS THAT SMS MARKETING IS VERY EFFECTIVE.

In order for us to really leverage the data that we do have on hand and take advantage of one of the most impactful marketing channels we've seen in over a decade we need to educate ourselves the basics.

Most of these stats are straight from the horse's mouth (that horse being Shopify) and these stats are evolving so it's good to keep abreast on trends.

If you'd like to keep abreast on all new eCommerce data and consumer behaviour stats we recommend that you check out Shopify's quarterly earning reports for the most update info.

01

Shopping Cart Abandonment Is Decreasing (But It's Still Super High)

In the beginning the eCommerce abandoned cart rate was close to 80% but recent consumer reports data we see that the rate is steadily decreasing year over year.

70% is still significant impact on a store's bottom line, with 7-of-10 potential customers dropping off at the checkout process.

02

Don't Force Account Creation at Checkout

Want to increase your conversion ratio? Don't do forced account creation at checkout, studies show that if you ask for an account creation at checkout their chance of abandoning your store's shopping cart goes up by around 23%.

A separate study from National Retail Federation® confirms these numbers to be true, suggesting that online retailers should consider guest checkout as one of the most critical factors to increase conversion.

03

Offer Free Shipping

Another factor that is capable of increasing conversions at checkout is offering free shipping. Free shipping can potentially increase your conversion rate by almost 70%.

04

Don't Confuse Confuse Customers

Another study by the Baymard Institute reports that 18% of online shoppers abandon a purchase because the checkout process was either too long or too complicated.

Baymard saw that by reducing the form fields they were able to increase the checkout process by 20-60% in many cases. Here at CartConvo it's vital that you

01

Shopping Cart Abandonment Is Decreasing (But It's Still Super High)

In the beginning the eCommerce abandoned cart rate was close to 80% but recent consumer reports data we see that the rate is steadily decreasing year over year.

70% is still significant impact on a store's bottom line, with 7-of-10 potential customers dropping off at the checkout process.

02

Don't Force Account Creation at Checkout

Want to increase your conversion ratio? Don't do forced account creation at checkout, studies show that if you ask for an account creation at checkout their chance of abandoning your store's shopping cart goes up by around 23%.

A separate study from National Retail Federation® confirms these numbers to be true, suggesting that online retailers should consider guest checkout as one of the most critical factors to increase conversion.

03

Offer Free Shipping

Another factor that is capable of increasing conversions at checkout is offering free shipping. Free shipping can potentially increase your conversion rate by almost 70%.

04

Don't Confuse Customers

Another study by the Baymard Institute reports that 18% of online shoppers abandon a purchase because the checkout process was either too long or too complicated.

Baymard saw that by reducing the form fields they were able to increase the checkout process by 20-60% in many cases. Here at CartConvo it's vital that you

Ready to increase revenue?

Book a free SMS Profit Discovery Call today and watch your revenue rise in a few clicks.

Schedule a free SMS Profit Discovery Call today and speak with an SMS marketing specialist and superpower your Shopify store.

Book Discovery Call

05

Mobile is the Future

53.9% of total online retail ecommerce in 2021 came from mobile devices. That number is projected to consistently increase significantly year over year in the future.

Make sure your site is responsive and your checkout is set up for Apple Pay, Google Pay and any other mobile payment service available through your eCommerce platform.

06

Extra Costs Hurt Conversions

Studies show that taxes, unreasonably high shipping costs or any other fees can hurt your checkout process 60%.

07

Offer Free Shipping

Another factor that is capable of increasing conversions at checkout is offering free shipping. Free shipping can potentially increase your conversion rate by almost 70%.

08

Over Half of Abandoned Carts Can Be Saved By Offering Discount

Want to save 54% of all your abandoned checkouts? Offer a small discount via SMS (Jilt, 2020).

09

An Overall 2.2% Conversion Ratio is Very Good

If you're converting overall traffic to your store at a 2.2% rate you're in the top 20% of all stores on Shopify.

Optimizing your product pages, checkout process and having a CartConvo abandoned cart recovery SMS campaign in place is the best way to mitigate loss revenue and increase your stores overall conversion ratio.

In closing, now that we know that abandoned carts are a major revenue hemorrhage for most stores the question now is: what are you going to do about it?

The first step is booking a free SMS Profit Discovery call below. One phone call could mean a significant increase in revenue, you can't afford not to speak with us. It's the biggest no-brainer in all of eCommerce.

05

Mobile is the Future

53.9% of total online retail ecommerce in 2021 came from mobile devices. That number is projected to consistently increase significantly year over year in the future.

Make sure your site is responsive and your checkout is set up for Apple Pay, Google Pay and any other mobile payment service available through your eCommerce platform.

06

Extra Costs Hurt Conversions

Studies show that taxes, unreasonably high shipping costs or any other fees can hurt your checkout process 60%.

07

Offer Free Shipping

Another factor that is capable of increasing conversions at checkout is offering free shipping. Free shipping can potentially increase your conversion rate by almost 70%.

08

Over Half of Abandoned Carts Can Be Saved By Offering Discount

Want to save 54% of all your abandoned checkouts? Offer a small discount via SMS (Jilt, 2020).

09

An Overall 2.2% Conversion Ratio is Very Good

If you're converting overall traffic to your store at a 2.2% rate you're in the top 20% of all stores on Shopify.

Optimizing your product pages, checkout process and having a CartConvo abandoned cart recovery SMS campaign in place is the best way to mitigate loss revenue and increase your stores overall conversion ratio.

In closing, now that we know that abandoned carts are a major revenue hemorrhage for most stores the question now is: what are you going to do about it?

The first step is booking a free SMS Profit Discovery call below. One phone call could mean a significant increase in revenue, you can't afford not to speak with us. It's the biggest no-brainer in all of eCommerce.

Ready to increase revenue?

Book a free SMS Profit Discovery Call today and watch your revenue rise in a few clicks.

👇

Book Discovery Call

Ready to increase revenue?

Book a free SMS Profit Discovery Call today and watch your revenue rise in a few clicks.

👉