Based on a recent study by Baymard Institute, 28% of US onlineshoppers have abandoned an order solely due to a “too long/complicated checkout process.”
A large portion of cart abandonments are simply a natural consequence of how users browse e-commerce sites - many users will be doing
window shopping, price comparison, saving items for later, exploring gift
options, etc. These are largely unavoidable cart and checkout abandonments.
In fact, studies found that 58.6% of US online shoppers have abandoned a cart
within the last three months because “I was just browsing / not ready to buy”.
Most of these will abandon even before they initiate the checkout flow.
However, if we segment out this “just browsing” segment, and instead
look at the remaining reasons for abandonments we get the following
Unlike the “just browsing” segment, a lot of these issues can be resolved. In fact, many of them can be fixed purely through design changes. If we focus only on checkout usability issues which Baymard Institute has documented to be solvable, the average large-sized e-commerce site can gain a 35.26% increase in conversion rate though better checkout design.
If we look at the combined e-commerce sales of $738 billion in the US and EU,
the potential for a 35.26% increase in conversion rate translates to $260
billion worth of lost orders which are recoverable solely through a better
checkout flow & design.
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