Shopping cart abandonment is gradually increasing, according to research conducted by SeeWhy, a firm that offers abandonment recovery services. “The abandonment rate for October averaged 71 percent, an all-time high for 2009,” says SeeWhy founder Charles Nicholls. Even last week when sales and promotional offers were kicking in, shopping cart abandonment averaged 65 percent. Nicholls says that rate is several percentage points higher than last year.
Nicholls has his theories on why abandonment rates are edging higher. He believes the trend is due to more knowledgeable and discerning customers-and while the economy may have triggered the trend—he’s doubtful that the trend will reverse itself once the global financial crisis has passed.
Regardless of across the board movements, ecommerce merchants wanting to maintain their competitive advantage would be well-served to study the most common reasons cited by consumers for shopping cart abandonment.