On average 76% of online shoppers leave without purchasing after adding items to their carts.
Cart abandonment is a major issue that ecommerce websites face with a major chunk of transactions being left incomplete. The cart abandonment rate for the retail sector lies around 76% and the travel sector faces the highest abandonment rates at 80%.
This articles explains that marketers can use FOMO (fear of missing out) as a strategy to counter the issue, and add urgency by showing shoppers the number of people viewing the same product, the number of purchases and social proofs such as customer reviews. Countdown timers can also give shoppers an "extra nudge" to drive up purchases.
Another way to push shoppers to complete a transaction is by sending cart abandonment emails to remind them about the products they added to their basket. A similar browser abandonment email for customers browsing the website but not adding anything to their carts, can be an effective tool.
[5 minute read]