The abandonment rate is as high as 70%! What shopping experiences do online consumers value?

With the development of technology and the increasingly networked lifestyle , the convenience brought by e-commerce has led to a steady increase in the demand for online shopping . The online consumer market continues to expand, and the growing consumer group has begun to have more stringent requirements for the e-commerce market.

One of the problems that has always accompanied the development of the e-commerce market is the successful conversion of orders . According to a survey by Baymard Research Institute , the current average abandonment rate of the global online market is as high as 69.8% , which means that 7 out of every 10 shoppers eventually cancel their purchases .

In the e-commerce industry, cart abandonment is one of the most important factors causing sales losses. Even with the ever-growing and vibrant e-commerce sector, cart abandonment remains one of the most vexing issues for major e-commerce platforms and sellers today . It is understood that as of March 2021, nearly 80 % of online shopping orders were canceled by consumers .

According to Baymard research , approximately 49 % of respondents cited high additional costs , i.e. costs other than product costs such as shipping, as the main reason for abandoning their shopping carts.

In addition, since many e-commerce platforms push similar products to the notification list based on consumers’ previous browsing preferences, consumers may be interested in adding them to the shopping cart when they first see them, but may give up in the end due to lack of substantial purchase intention. Some consumers also give up purchasing due to payment methods and website security issues.

As for categories , survey data shows that fashion products such as clothing , shoes, and home products are the products that consumers are most likely to give up buying. Consumers believe that fashion products are easily out of fashion trends, so if they are added to the shopping cart and not paid for in time, it is almost impossible to buy them later.

Respondents believe that if e-commerce platforms can provide cheaper shipping or even free shipping, provide more payment methods, and simplify the payment process, they will be more inclined to consume on the platform. As for abandoned products, respondents said that sellers can diversify their styles and styles.

How to retain consumers and successfully monetize them is a question that both platforms and sellers need to consider. Sellers need to pay attention to hot trends in real time, grasp consumer needs and preferences, and arouse consumers' desire to buy.

Online consumption

Abandoned Cart

Fashion Products