Cart Abandonment Rate
The (Shopping) Cart Abandonment Rate is the percentage of online shoppers who add items to a virtual shopping cart but then abandon the cart and end their shopping session before completing a purchase. It describes the rate of interested potential customers who leave without buying anything compared to the total number of virtual shopping carts created. The typical shopping cart abandonment rate for online retailers varies between 60% and 80%.
The cart abandonment rate is calculated by dividing the total number of completed transactions by the number of initiated checkouts, subtracting that value from 1, and then multiplying it by 100:
Cart Abandonment Rate = (1 – (# of orders completed / # of checkouts initiated)) x 100
The Cart Abandonment Rate is often an indicator of how personalized and relevant the eCommerce, also known as electronic commerce, digital commerce, or internet commerce, refers to the buying and selling o... More customer journey is. Applying techniques to decrease the abandonment rate is an effective way to immediately increase revenue. However, this metric should be tracked and evaluated along with other related metrics such as average order value, conversion rate, etc. to better understand online shopper trends.
Reflektion helps retailers improve cart abandonment rates by personalizing the customer journey at the individual shopper level and increasing customer engagement — all the way from initial search to final checkout.