Research: Online revenue increases, as do cart abandonment and checkout rates

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As e-commerce revenue has increased over the past year, cart and session abandonment rates have also increased.

E-commerce revenue grew nearly 10% in the 2022 season.

Holiday shoppers in the United States spent just over $204 billion on holiday gifts, decorations and food. This is an increase of just over 9% year-over-year (YoY), and is a key part of Adobe Analytics’ analysis of the purchase period of the November 1, 2021 through December 31, 2021. A total of 38 days during the period exceeded $3 billion spent in a single day, despite ongoing supply chain issues.

According to data from Adobe, consumers encountered more than 6 billion out-of-stock messages during the holiday shopping season, a 10% increase in this type of messaging over 2020 data.

“This holiday shopping season was the first time that big promotional moments like Cyber ​​Monday and Black Friday were given less prominence,” said Taylor Schreiner, senior director of Adobe Digital Insights. “As we have seen during the Covid-19 pandemic, e-commerce has become a ubiquitous everyday activity and a flexible way for shoppers to navigate product availability and higher prices.”

Mobile and payment options are essential for increasing e-commerce

Buy Now Pay Later (BNPL) has been one of the brightest areas for retailers and merchants during the holiday season. While curbside pickup orders were essentially flat for the season, BNPL orders saw revenue increase 27% year-on-year. Mobile was another hot spot, accounting for around 43% of e-commerce sales.

More vacation data from Adobe can be viewed here.

Shopping cart abandonment and checkout abandonment is a problem for merchants

As shoppers continue to visit online outlets to fill out their shopping lists, a new report points to a potential problem: checkout abandonment. For years, merchants have tried to solve the problem of shopping cart abandonment, but according to data from Bold Commerce, it’s only part of the battle.

H3- Half of the sessions end with a payment abandonment

Their new data shows that more than half of online shopping sessions are abandoned during checkout.

70% of sessions end in cart abandonment

Researchers know that approximately 70% of shopping sessions result in an abandoned cartbut this new data indicates that merchants and retailers also need to make the checkout process easier.

“We’re seeing retail brands leaning into details like colors, product images and descriptions, loyalty tactics, and other things that influence shoppers’ checkout, but then give up on customization of the checkout itself,” said Yvan Boisjoli, CEO of Bold Commerce. “This checkout experience gap is a red flag for retailers. If checkout isn’t optimized, no matter how well shoppers get there, they simply won’t complete their purchase.”

A comprehensive approach to shopping cart abandonment rates can also help reduce the trend.

Mobile sessions drop more than desktop sessions

Researchers found that more than half of mobile shopping sessions are abandoned at checkout (58%) compared to 48% of desktop sessions. The most likely reasons for session abandonment are inability to adjust shipping or provide details once in the checkout process.

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