The top three reasons online shoppers abandon their carts
Nine in 10 Australians are abandoning their online shopping carts due to shipping costs, finding lower prices elsewhere, and reconsidering their need for the product, resulting in an annual loss of $18 billion in sales revenue for online stores.
Parcel delivery service provider CouriersPlease found in a survey of 1005 Australian adults that only 12 per cent of shoppers do not abandon their shopping carts.
Shopping cart abandonment is more common among 18 to 30 years old, with only 3 per cent of the age group proceeding to checkout.
Meanwhile, only 10 per cent of adults aged 31 to 50 years old do not abandon their online carts and 18 per cent of individuals aged over 50 do not leave their shopping carts.
Around 63 per cent of the respondents said they abandon their carts due to shipping costs while 38 per cent said it is due to finding cheaper prices elsewhere.
About 29 per cent said they leave their online carts after reconsidering their need for the product.
“We are heading into peak sales season – with Black Friday, Cyber Monday and Christmas running in succession – where cart abandonment rates might rise due to wider choices and limited time,” said CouriersPlease CEO Richard Thame.
“Our research aims to inform retailers, who may decide to strengthen sales and marketing messages for individual products to reduce cart abandonment.”