Market maturity, web personalisation and greater customer insights have contributed to the decline in cart abandonment rates, SaleCycle reveals in its quarterly report.
The email and on-site remarketing company derived this conclusion from analysing results from over 500 global brands, including the likes of Ralph Lauren, HP and Iberia.
As shown in the report, cart abandonment rates, which represent the proportion of customers who leave their order behind instead of purchasing, are on the decline. The rates have dropped to 74.32% in all regions, down from 75.45% in Q4 last year.
The lowest numbers have been noted in Europe (71.5%) and North America (73.1%), the regions SaleCyle notes are focused on delivering convenience to customers.
A key factor having impact on this trend is website personalisation, which proved to be effective by showing relevant content when visitors need it most. Others included good e-commerce technologies as well as acting on customer feedback and purchase data, enabling marketers to provide better customer experience.
The trend is good news for online retailers and serves as the focus of a PMI: Europe session in July. Until then, a snapshot of the findings are available below.
