Cart abandon rate
What is the Cart abandon rate?
Cart abandon rate is the percentage of visitors who leave the site without completing the purchase and adding the item to their cart. This metric helps businesses understand why customers leave the site without completing their checkout and adding the item to their cart. It is calculated by dividing the total number of completed purchases by the number of created carts.
There are reasons for cart abandonment that relate to consumer psychology and behaviour. Most of the time, customers feel empty about some of the services that websites should assure them. It can be about a lack of arrangement of checkouts, not having proper payment options or discount codes, clear rules for return and refund, and, more importantly, adding shipping costs.
Understanding likely reasons and analysing this metric can help find the problem and implement strategies to bring back the customers who have left this corner.