Q2 Cart Abandonment Stats – A closer look…

We recently released an Infographic illustrating that abandonment continues to be a major challenge for businesses online with abandonment rates in Q2 2013 averaging 75.5% across all industry verticals.

Just as notable is the effectiveness of email in communicating to these ‘lost’ customers – or hottest prospects depending on which way you look at it – with the average basket/cart/booking abandonment email worth a staggering $6.05 per email sent.

An eye catching figures I’m sure you’ll agree.

Sony Cart Abandonment Email

The likes of Sony boast a 7% increase in sales with basket abandonment emails

Whilst the reasons for abandonment most often brought to head in research refer to high shipping costs and the pains of long delivery cycles – the results in travel, where this is naturally not a factor, are fascinating to read with ‘booking abandonment’ proving a major headache to all aspects of the travel space, with our research incorporating major holiday operators, flight companies and hotels.

Not only is the abandonment rate higher in travel, with price comparison and ‘bargain hunters’ a clear contributor towards that 81% booking abandonment rate – but the all important Send Rate (the % of abandoners that brand’s have been able to contact, either through offering the email address during the process, or through logging in) is significantly lower, with 90% of abandoners remaining anonymous when it comes to leaving an email trail.

Send rate offers a major challenge to brands monitoring abandonment

Send rate offers a major challenge to brands monitoring abandonment

The area of data collection and acting before a customer abandons is a logical next step for brands looking to address the challenge.  Whilst some brands have flirted with online chat systems (although the merits of automated chat systems is open to debate) the use of real-time customer data to influence messages shown onsite is an area of real growth potential.

The likes of SaleCycle and SocialTriggers offer brands the ability to provide targeted messages online at the point a customer appears to be about to abandon.  A kind of ‘abandonment intent’ where the message shown to the customer (typically in the form of a slider / litebox) will encourage the customer to leave their email address behind or offer alternative product recommendations to prevent the abandonment completely.

Email Capture LiteBox

More and more customers use their shopping cart as a virtual ‘wishlist’

The statistics in Q2 illustrate the fact that rather than seeing abandonment as a negative, brands should see abandonment as an opportunity with customers putting their hand up and declaring an interest in products and the brand…

Abandonment.  Just another part of the customer journey…

To see the Infographic in full, go to www1.SaleCycle.com/Stats

The numbers are taken from an average across 200 global brands in Q2 2013, including Monsoon, Sony and Millennium Hotels.

Copyright © SaleCycle Ltd.

Note – You are welcome to use this data on your own website, provided it is attributed prominently with a link back to this page. Thank you! :0) 

Basket Abandonment in Fashion: The Numbers

I thought it was about time we had a look some fashion numbers – admittedly not the most glamorous element of fashion, but I wanted to demonstrate what a fine job fashion brands do at recovering lost sales.

I decided to look at ten of my favourite fashion brands and how they performed in May to give us a good rounded view of how the fashion vertical adds up right now. Of course these numbers are changing all the time, but this gives us a good view on how the fashion sector works.

Basket Abandonment Rate: 78.5%

Back in September last year the average abandonment rate in fashion was at around 70%, whilst a glance at May 2013 sees this number is now getting on for nearly 80%.  It illustrates how important it is for fashion brands to ensure they have a basket recovery solution in place as this really is a hell of a lot of sales to miss out on with 4/5ths of customers putting something in their basket and then walking away.

Brand Insight: Mango's clean design generates plenty of clicks.

Brand Insights: Mango’s clean and simple design generates plenty of clicks.

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Talking Numbers: Q1 2013 v Q1 2012

We all like to talk a good game, but sometimes it’s best to let the numbers do the talking.

One of our awesome clients were running some year-on-year analysis and trading was generally a little down compared to Q1 2012.  They wanted to know if their basket abandonment campaigns were following a similar trend.

A quick look in our dashboard/reports and the numbers speak for themselves…

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Basket Abandonment Stats: Q1 2013

The first few months of 2013 have been extremely busy in online ecommerce with brands building on the momentum of a good Christmas and above average January sales.

The numbers in basket abandonment and cart recovery have been notable with a rise in abandonment rates and the ROI of each basket abandonment email sent increasing to over five dollars!

Taken from a consolidation of 200 leading global brands (including Sony, Opodo & Ralph Lauren) here’s 7 big basket abandonment stats from Q1 2013:

  • 73.6% was the average shopping cart, basket and booking abandonment rate (up from 70.7% in Q4 2012)
  • Most abandonments happened between 8 and 9pm – with Thursday the most common day
  • 48.1% of basket abandonment emails were opened (up from 45.9% in Q4)
  • 14.9% of basket abandonment emails were clicked (up from 13.5% in Q4)
ROI: Every basket abandonment email sent delivers over $5...

ROI: Every basket abandonment email sent in Q1 delivered over $5…

  • 33.3% of these clickers went on to purchase a product (up from 30.1% in Q4)
  • The AOV was 58% higher for purchases from basket abandonment emails compared with direct sales (up from 36% in Q4)
  • Revenue per basket abandonment email sent was $5.78 (up from $4.14 Q4) 

For more information about the numbers, contact us at info@salecycle.com 

Remarketing: The Billion Dollar Question

It’s been a pretty hectic month here at SaleCycle with events (in the USA and Europe), webinars (with a terrific client), new customers (too many to mention) and the appointment of our new Financial Controller and a new Implementation Developer.

We’ve barely had the time to stop and think!

However, I managed to squeeze in some ‘think time’ whilst literally up in the air.

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2013 – The Year of Transparency

I read a really interesting blog by VE Interactive last week, that focussed on the integrity of data and the reading of that data to generate transparency and visibility.

It really got me thinking and I wanted to add some more thoughts of my own.

In an industry worth £9bn (Source: IAB), it’s an absolute must to have clear and transparent results.

Without them, how can you calculate ROI or even start to assess the financial benefits of a new campaign.

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Why do I open some emails and delete others?

I have had an iPhone 4s for two years now.

I resisted for as long as I could and held onto my Droid like it was still cool and very functional, however now that I have joined the revolution I see why people are making the switch.

iPhone v 3310

Nokia 3310: No emails. But it did have Snake…

At first I thought the apps where the same and the experience was the same on the droid phones as with the iPhone. I will admit now I could not have been more wrong. This really shines through when looking at my emails and how I have noticed that I check my email way more on my phone then on the computer even when the computer is on right in front of me.

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Basket Abandonment Stats: November 2012

With Cyber Monday in the UK already proving a crazy day in terms of sales figures… let’s have a quick glance back to what has been…

November has a reputation for being an extremely busy month online with Christmas shopping beginning in earnest, and both Black Friday & Cyber Monday having a huge impact on sales figures.

2012 continued trends with November a very busy month online and Black Friday (this year falling on the 23rd) the busiest shopping day of the year on the high street for the seventh year running.

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