According to Baymard Institute, a web research company in the UK, 67% of online shopping carts are abandoned. In other words, 67 out of every 100 potential customers are leaving your website without purchasing. They’re browsing your website, looking at products, adding products to their cart, and even going to the checkout page because they intend to purchase.

But 67% of them leave at the last minute.

Based on these numbers, a small store with $2 million in annual sales is losing more than $4 million every year to cart abandonment.

It’s no surprise that Business Insider estimates online retailers lost as much as $4 trillion to cart abandonment last year.

Listen to this episode and discover how to plug the $4 trillion dollar cart abandonment hole in your store.

In this episode, you’ll discover:

the 14 main reasons why people abandon their shopping carts
why 1-email cart abandonment campaigns are ineffective
a 3-email cart abandonment campaign that works wonders
why offering discounts is like chasing your customers down the road yelling out "5% off!", "10% off!", "15% off!", like a needy shopkeeper
how a $2 million dollar store could increase sales by as much as $527,878 with a cart abandonment email recovery campaign

People on this episode:

John McIntyre

Mentioned in this interview/episode:

ReEngager Services

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Cart Abandonment Examples

Transcription:

Welcome to ReEngager Podcast for online retailers and e-commerce stores. You're about to discover how to increase sales by 15 to 30% or more with email marketing. If you'd like to learn more about ReEngager and how we help online stores like yours add millions to the bottom line, go to reengager.com. That's R-E-E-N-G-A-G-E-R.com.

Hello and welcome to the ReEngager Podcast. Now today, we're talking cart abandonment. Now this is a big, big problem for stores. Now if you already have a cart abandonment sequence, or some sort of email recovery cart abandonment recovery program going on - this is still going to beneficial to you. Why? Because I'm going to hit on some key facts about cart abandonment, and also give you some suggestions on how you can improve it. Which - when I've looked at most stores and what they're doing for cart abandonment, this is going to go above and beyond that. So you're going to pick up some ideas, whether or not you're already doing this, okay?

Now the first thing, just to touch on is, what is cart abandonment, basically? Cart abandonment is when someone adds a product to the cart, and leaves before buying. So they click "add to cart," and then they click around the site. And then something happens. Maybe their daughter runs up and says, "Daddy, I've got to, I've got to go. I've got a, I need some help. I need - take me school." And they forget, okay? They have to go. They go and, what do they do? They leave, they shut the website and then you lost them. Now, according to the B (1:40?) Mart Institute - a web research company in the UK. 67% of online shopping carts are abandoned.

Now this varies from industry to industry and website to website.