Abandoned shopping carts are a major problem for online retailers: roughly 70% of shopping carts are abandoned, leading to $1 trillion in lost revenue annually. We went straight to the shoppers to find out why.
The Bolt team commissioned a YouGov survey to see what shoppers in the United States would say about why they abandon their carts.
Key takeaways included the following:
- The top reasons why shoppers abandon online carts include shipping fees and taxes (28%) and people changing their minds (32%).
- As well as free shipping, consumers are concerned about the security of the checkout, having multiple payment options, and the speed of purchase.
- The majority (74%) of shoppers can be persuaded to purchase an item again after they’ve abandoned their cart.
- One in two consumers prefer one-click checkout.
Check out more exclusive data, as well as how your online store can use these insights to improve your checkout experience.
A delightful checkout experience pays dividends over the course of the entire relationship with the shopper, too, with Bolt shoppers 63% more likely to make a repeat purchase than guest shoppers.