to a recent article, the global average rate of shopping cart
abandonment is a staggering 75.6%. For
retail e-commerce specifically, the cart abandonment rate is 72.8%, and in the
fashion industry alone, 68.3%! The
quickest and simplest way etailers can significantly decrease cart
abandonment from global consumers is by simplifying shipping, customs, and returns.
Shopping cart abandonment rates vary somewhat by region, but are fairly consistent across the globe. Rates by region include:
- Asia-Pacific 76.3%
- Middle East 76.1%
- Latin America 75.3%
- North America 74%
- Europe 70.9%
Cart abandonment is a problem that all online retailers should be watching closely and looking for solutions to decrease. In fact, cart abandonment causes internet retailers to lose over $18 billion (USD) every year! Given that 55% of online shoppers leave their carts due to hidden extra costs, etailers are wise to take a closer look at their rates for shipping, customs, and returns for international shoppers where these rates can have a substantial impact on the final price of the cart.
Check out these scenarios that international shoppers find themselves in and solutions that etailers can apply to motivate consumers to finish the purchase.