Why do we abandon baskets online?
We all get frustrated at the high level of shopping basket abandonments, reported at around 67% of all online baskets, but many would argue that this is just part of the buying process and it presents plenty of opportunities in itself.
In this blog, we look at why people abandon baskets and in the future we’ll consider how you can create a very rewarding strategy for those that choose not to shop with you…yet.
The facts can haunt you. 7 out of 10 will abandon their basket. 99% of visitors will not shop with you on their first visit. The lost income projection is huge. But is this really any different to a high street retailer? Let’s look at the key reasons why shoppers decide to abandon their basket, using an interesting report by Worldplay.
Reason 1: presented with unexpected costs (56%)
Surprises are not a good thing where money is concerned. Having chosen the goods that they wish to buy, they don’t want to find an unexpected cost is to be added. This might be surprisingly high postage costs or perhaps a card processing fee. The clearer you can make the communication of costs BEFORE they shop, the lower your level of abandoned baskets will be.
Reason 2: just browsing (37%)
Another report highlights the frustrating fact that the vast majority of shoppers will not buy on their first visit. In fact here is an interesting breakdown to give you an idea:
- 30% purchase in less than 20 minutes
- 50% purchase in 20 minutes to an hour
- 60% purchase in 1 to 3 hours
- 65% purchase in 3 to 12 hours
- 72% purchase in 12-24 hours
- 80% purchase in 3-7 days
- 95% purchase in 1-2 weeks
- 100% purchase in more than 2 weeks