Understanding ECommerce Data #4: Cart Abandonment Rate

by Mike Hauben

October 29, 2019

1529

 “Understanding Jewelry ECommerce Data” Series Chapters: 

Part 1: Customer Lifetime Value

Part 2: Sales Conversion Rate

Part 3: Average Order Value

Part 4: Cart Abandonment Rate (you are here)

Part 5: Email Conversion Rate

Part 6: Social Media Conversion Rate

Part 7: Revenue By Traffic Source

Part 8: Customer Acquisition Cost

Part 9: Percentage Of Returning Customers

Cart abandonment rate is often as high as 82%, which is a major issue for jewelry ecommerce brands and jewelry stores.

There are many reasons why customers will abandon your site without making a purchase. It may be a technical issues, shipping options, a clunky or lengthly checkout process, or more. Discovering whether cart abandonment is a problem for your site is a major step to improving your sales.

Calculating Your Cart Abandonment Rate

Cart Abandonment Rate = Number of Completed Purchases / Number of Shopping Carts Created

Improving Your Cart Abandonment Rate

The first step is to make sure your website is as satisfying an experience as possible for the visitor. Major sources of frustration for visitors that cause shopping cart abandonment are unexpected costs, high shipping costs, forcing a visitor to create an account to checkout, a lengthly checkout process, and unclear return policies. Make sure you’re making it as easy as possible for your visitor to purchase from you.

The second solution is to run intelligent remarketing campaigns – like social media ads and automated email campaigns –  targeted to those who abandoned their carts to come back to the site.

Mike Hauben
Jewelry Ecomm
http://haubenmedia.com

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Specialty: Website Development & Digital Marketing

Mike Hauben is the editor of JewelryEcomm.com and the Creative Director for the Centurion Jewelry Show. He holds over twenty digital certifications (Google, Yoast, Hubspot) and manages his web agency, Hauben Media, out of Long Island. He received an Award Of Excellence from MMA Business Magazine and has spoke at a number of conferences around the country. In his personal life, Mike is a father, retired fighter, and dog lover. Always available for a coffee or beer!