Focus Cart Abandonment: Semi-annual report 2024

Shopping cart abandonment represents a major problem for online stores. To effectively prevent abandonment, it’s crucial to thoroughly understand user behavior. For this reason, uptain regularly publishes reports and studies on the topic of shopping cart abandonment.

This report covers the first half of 2024. The data is based on the behavior of 10 million users across more than 1,500 shops. The data comes from a wide range of shop sizes and industries, providing a deep and representative insight into the behavior of cart abandoners.

The Abandonment Rate is Increasing

The proportion of cart abandoners remains a significant problem. In the first half of this year, the shopping cart abandonment rate stands at 71.41%.

The majority of customers who add products to their cart do not complete the purchase. As a result, German online shops alone miss out on approximately 1 billion euros in revenue annually.

Particularly concerning is the fact that this trend is on the rise. The abandonment rate has increased by 1.66%, from 69.75% in the last half-year. This increase is substantial. By comparison, the average online shop has a conversion rate of 1-5%. Effectively addressing cart abandonment is more crucial than ever.

Smartphone vs. Computer Users

The shopping behavior of smartphone and computer users differs significantly, with purchases being abandoned much more frequently on smartphones.

With an abandonment rate of 74%, smartphone users abandon purchases significantly more often. A common reason for this is a poor mobile experience. Many online shops are still not optimized for smartphones. Especially during checkout, the process remains too cumbersome for many users, leading to frustrated customers and abandoned carts.

However, even computer users abandon a notable 67% of their purchases. Here, too, user experience plays a crucial role. Additionally, intransparent shipping conditions and limited payment options regularly contribute to lost revenue.

Which Industry Suffers the Most from Cart Abandonment?

The vast majority of online shops struggle with high abandonment rates. However, some industries are affected more than others.

Leading the list is the adult industry, where the average abandonment rate reaches a staggering 96%. Online shops in sectors such as contracts & insurance, travel accessories, and tableware also face considerable challenges. In these industries, the abandonment rate is well above the market average.

This analysis reveals a strong relationship between the type of products and the abandonment rate. Users exhibit different behaviors depending on the industry, leading to significant variations.

Price Segments in Comparison

Not only does the industry matter, but the price segment also plays a crucial role. Shopper behavior varies depending on the price, this is reflected in the findings of this report.

Shops in the low-price segment of 1-30 euros are particularly at risk, with an average abandonment rate of 77%. In the higher segment of 120-150 euros, the abandonment rate is significantly lower, at 66%.

It might be easy to assume that the abandonment rate decreases as the price segment increases. However, this is not accurate. The abandonment rate varies across segments, and no clear trend can be identified. This once again highlights the complexity of user behavior. To effectively reduce cart abandonment, a precise understanding of customer needs within the specific price segment is essential.

Additionally, low-cost purchases are not abandoned less frequently. On the contrary, when products are offered at very low prices, it can raise suspicion. Users may doubt the credibility of the online shop and the quality of the products. This could be a possible reason for the above-average abandonment rate in the low-price segment.

Abandonment Rate Throughout the Day

User behavior is closely tied to the time of day, as shown by the analysis of abandonment rates throughout the day. Customers are most likely to abandon their carts late in the evening and during the night.

The abandonment rate varies over the course of the day, with the highest rates occurring from evening into the night. Purchases are most likely to be completed at the beginning of the day, between 7 and 10 a.m.

There is a clear connection between the time of day and abandonment behavior. Customers shop for different reasons and in varying moods depending on the time of day. For instance, purchases made early in the day are often for everyday necessities and are therefore less likely to be abandoned. Additionally, frustration tolerance is higher in the morning than in the evening. For example, a cumbersome checkout process might not necessarily lead to abandonment in the morning, whereas in the evening, the likelihood of the customer becoming too frustrated and abandoning the cart is higher.

Focus: Black Friday

The period between Black Friday and Christmas is the peak customer influx of the year, accompanied by changing customer needs, as many products are purchased as gifts for others.

In addition to the increased traffic, there is a slight reduction in the abandonment rate during this period. However, the significantly higher average cart value is more impactful. The average cart value during this time is 26% higher than for the rest of the year, making abandoned carts even more painful.

Combined with the increased traffic of approximately 130%, the web shops are missing out on considerable revenue during this period. For example, a online shop that typically generates €100,000 in revenue could potentially earn €163,800 during this period. With effective methods to prevent cart abandonment, this could rise to €212,940. Thus, reducing cart abandonment is especially critical for online shops during this time.

Conclusion

Cart abandonment continues to be a major problem in the first half of 2024. There is no sign of improvement; rather, the trend is increasing. To remain profitable in the long term, online shops must significantly reduce cart abandonment.

This report highlights the immense complexity of user behavior regarding this issue. A multitude of factors influences shopping behavior, including price segment, device, industry, time of day, and many other variables.

Expert Commentary

How to Prevent Cart Abandonment

There are various approaches to prevent cart abandonment, but to be effective, one must precisely understand user behavior and address the most common reasons for abandonment. These reasons include intransparent shipping conditions, missing payment options, and a lack of trust in the shop. Even with these issues addressed, dealing with cart abandoners remains a challenge.

A particularly effective strategy against cart abandonment is the use of recovery methods. This includes tactics such as trigger emails and exit-intent pop-ups. These methods can help identify and prevent potential cart abandonment at critical moments. For these strategies to work optimally, an intelligent system is required—one that responds to customer purchase behavior and applies personalized recovery methods in real time. This approach is based on various factors such as time of day, device, price segment, industry, and more.