Overall, the average cart abandonment rate sits just shy of 70% (69.57%). Please note that estimates vary according to various sources. Some of the most conservative estimates place the average cart abandonment rate in the upper 50% mark. In contrast, some of the more aggressive estimates place average cart abandonment rates in the 80% range.
How can you quantify that in dollar terms?
Think about how much your customers spend on average. For example, suppose your customers spend $10 on average at your shop. If three customers complete purchases, you make $30. However, you lose $70 because seven did not follow through.
Can you see how much money you’re leaving on the table due to cart abandonment?
Based on these figures, finding ways to reduce cart abandonment rates must become your e-commerce site’s top priority.
Now, you might be thinking, what is a good cart abandonment for my e-commerce site?
That’s a great question!
The answer depends on who you ask. Typically, industry experts indicate that a cart abandonment at or below 40% is a good target to shoot for. Nevertheless, a simple answer might simply be to reduce cart abandonment rates as much as you can.