Written by: Sue LeClaire
A Growing Problem
Shopping cart abandonment rates are on the rise. According to a recent Baymard Institute study, average documented cart abandonment rate is 68.53% over the past nine years.
If you look at rates on an annual basis, the abandonment rate has been steadily increasing about 2% each year. In 2013 alone, a Barilliance report found that 74% of consumers left a site with un-purchased merchandise in online shopping carts.
Following is a recent article we found in Marketing Daily regarding coupons and how the landscape is changing. According to the report, retailers are limiting coupon availability, the coupons that are published have a much higher redemption value, and mobile coupons are more popular than ever.
Mobile eCommerce Shoppers
In 2013, Internet and mobile measurement firm comScore began detecting a new trend in e-retailing: the mobile-only shopper. By January 2015, some top retailers were seeing an explosion in customers who only access their digital properties using smartphones and tablets (Source: comScore).
% of time spent with online retail on smartphones and tablets
“Mobile is now the primary access point to online retail for most consumers,” says Andrew Lipsman, vice president of marketing and insights at comScore. “As a result, retailers really need to rethink how they deliver their online shopping experience” (Source: comScore).