Ecommerce brands should consider alternative metrics and cart abandonment rates to effectively enhance business and buyer’s journey.
Though customer abandonment rate is an important ecommerce KPIs, studies show that customers are using shopping carts quite differently than originally intended. Customers are abandoning their shopping carts due to many factors like unforeseen costs and shipping limitations and missing or faulty coupon codes.
Ecommerce buyers are also using carts as a Wishlist. Due to the lengthy and laborious process for “Save for Later”, consumers further use carts to save products for later purchase. These insights suggest that cart abandonment alone cannot help marketers understand why customers abandon their purchase.
Ecommerce brands must consider alternative metrics like average checkout abandonment rates, length of the checkout process and speed of the purchase journey. It can help brands effectively identify technical problems, isolate shopper trends and determine friction points.
[7 minute read]