Cart abandonment rates are on the decline across the world, according to a new report from Salescycle.
Although abandonment rates are 74.32% across all regions for the first quarter of 2016 the figure has fallen across every region as less people leave a site without actually going through to convert. Abandonment rates were 76.6% in Q3 last year and 75.45% in Q4.
When it came to email, onsite and SMS remarketing efforts, conversion rates ranged from just over a quarter to nearly a third
Cart abandonment rates are at their lowest in Europe where they measured 71.5% for the last quarter. The second lowest market was North America at 73.1%.
These two markets represent the greatest online maturity and are markets where ecommerce marketers have worked hard to increase convenience for customers – such as with multiple payment and delivery options – in a bid to reduce abandonment rates compared to other developing markets.
But other marketing efforts are playing their part in reducing abandonment rates too. These include an uptake in on-site remarketing and on-site personalisation as well as a greater use of customer insights such as through customer surveys and purchasing data.
The study shows that when it came to email, onsite and SMS remarketing efforts figures varied but that conversion rates ranged from just over a quarter to nearly a third. 28.1% of opened emails were clicked at least once and more than a quarter (27.6%) of these then led to a recovered sale.
Onsite click rates saw a tenth (10.4%) of would-be abandoners choose to continue shopping and nearly a third (32.2%) of on-site clicks resulting in a conversion.
Meanwhile SMS prompted 15.5% of people to go back to view their abandoned selections with just under a third (28.7%) of clicks on SMS linked then resulting in a recovered sale.
The figures are collated quarterly by Salescycle from abandonment and remarketing statistics. These figures cover January, February and March of this year and are based on averages across 500 leading global brands.