Shopping cart abandonment is up
DoubleClick's second quarter 2004 E-commerce Site Trend Report is out. And according to it, shopping cart abandonment is at an all-time high: 57% of all carts, up from 45.9% a year ago. Furthermore, those who return to their abandoned carts are doing so with less frequency: 26.5% of sales were attributable to those returning to an abandoned cart, versus 35.6% of sales a year ago. According to the report, for every dollar spent there is $4.51 that is left in a cart. More stats from the study are reported in this internetnews.com article.
Ouch, that kinda smarts. If you're an online retailer, what are you doing to minimize your cart abandonment rate?