Global cart abandonment rates in the last quarter have been on the rise in comparison to Q1 this year, but only to a minuscule extent, a new report from SaleCycle has revealed.
A study of data collected between March and May 2016 from 500 global brands, including the likes of Ted Baker, Virgin Atlantic and Panasonic, has found that all regions experienced less than 1% movement in the numbers, reaching a global average of 74.52%.
In Q1 this year, the rates of what the research defines as the percentage of customers who leave behind their order instead of purchasing, had dropped to 74.32% globally, down from 75.45% in Q4 last year.
The answer to the issue, according to the report, is SMS remarketing.
The issue is widely spread throughout the globe, with the lowest numbers this quarter observed in Europe (70.9%), followed by North America (74%), while APAC takes the worst rate at 76.3%.
No industry is prone to customers dropping their online shopping baskets at checkout, and the one suffering from this trend the most is travel, with rates reaching 80.1%. Interestingly, the numbers in fashion currently stand at 68.8%.
With a huge increase in consumers using smartphones on a daily basis and m-commerce booming, the opportunities to maximise marketing efforts via mobile are aplenty. SMS remarketing, could be the way to fight this common problem, the report has suggested.
The information it gathered has shown that most SMS messages (90%) are read within the first three minutes and the click rate is 15.5%, resulting in just under a third (28.7%) of clicks on links in messages converting to sales.
Here is a snapshot of the findings.