An abandoned cart email is used to reach out to potential customers who have placed products from your e-commerce website into their cart, but left your website without completing the checkout process.
Imagine you just purchased a beautiful new home that you’re incredibly proud of. You’ve spent loads of money decorating, painting, and remodeling until it’s just the way you want it.
It looks amazing on the surface, until you notice a small leak in the roof. Do you wait until that leak continues to get bigger and bigger, or do you address it right away? Of course, you’re going to fix it before that small leak becomes a larger one and seriously damages your new home.
While maybe not as obvious, if you’re running an online store abandoned carts are a lot like a leaky roof. And if you don’t address the problem head on, you could seriously jeopardize your business.
Let’s face it. Driving traffic to your store is tough work. Between paid advertising, generating customer reviews, email marketing, social media, and any other method you may use to boost sales, it requires a lot of time, energy, and money.
You don’t want all that hard work to go to waste (and we don’t want it to either!). So how do you make the most out of that traffic and save more carts?
It’s time to put in place a solid cart abandonment strategy. In this guide, we’ll discuss the state of cart abandonment today, what’s wrong with the current approach, and how to fix it.
1. The State of Cart Abandonment
It’s never been more clear that cart abandonment is a real problem for ecommerce businesses. In fact, over 72% of merchants consider reducing the number of abandoned carts to be one of their top challenges. And get this – on average, over 70% of ecommerce carts are abandoned . 70%. That means for every 10 shoppers that add items to their cart, 7 of them will abandon your site before checkout is complete.
Why does this happen?
There are myriad reasons why carts are abandoned. Sometimes customers want to shop around before committing to purchase, or they simply get distracted and forget. Whatever the reason may be, the fact of the matter is that as the ecommerce ecosystem continues to expand and competition increases, this is a problem that’s only getting worse for merchants.
Research Report: How Merchants Deal with Abandoned Carts, Baymard Institute
2. What Most Merchants Are Doing Today (And Why It’s a Problem)
So what are merchants doing to combat this problem?
For most merchants, cart abandonment emails are the go-to mitigation strategy. And for good reason – we know that they work. In fact, businesses that send abandoned cart emails with average order values between $100-$500 recovered at least 4% of their abandoned carts on average, while businesses with orders under $50 recaptured 3%.
We absolutely advocate for cart abandonment emails and believe they are a critical component to any successful cart abandonment strategy. However, sending a single email is just the bare minimum of what we all can and should be doing to save carts.
What tactics are merchants using to reduce cart abandonment?
Ecommerce Industry Benchmark Report: Abandoned Carts, Klaviyo