What To Do About Runaway E-Shoppers
Jul 5th, 2007 by Jennifer LeClaire
Shopping cart abandonment. It’s hardly a new storyline, but it seems no matter how often tech news reporters spotlight the topic there remains an enormous number of e-commerce venues that devour the information.
That’s because the problem is still a significant and costly one.
According to a September 2006 MarketingSherpa report, the average shopping cart abandonment rate is 59.8 percent. That means more than half of customers who placed items in their virtual buggies had at least some intention to pay up in the checkout line. But, for whatever reason, they changed their minds mid-stream.
“If only 10 percent of the shopping carts were left behind, the loss to business would be substantial. At 60 percent, the loss must be astronomical,” said Eugene Fram, the J. Warren McClure research professor of marketing in Rochester Institute of Technology’s (RIT) E. Philip Saunders College of Business. Thus, it’s no surprise that shopping cart optimization remains a major focus for Internet retailers.
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