It takes several steps for a shopper to go from visiting an online store to finally buying a product.
The customer needs to get to your site, find one or more products she likes, add them to the cart, procede to checkout, enter credit card details and finally make a purchase.
That’s why it’s particularly frustrating to see customers dropping out at the very last step, the checkout phase. But it’s inevitable that a percentage of your customers will abandon your site before completing checkout.
The Checkout Abandonment Rate refers to the number of people you lose in their very last step before purchasing.
Common reasons for checkout abandonments are:
- Shipping costs or additional taxes
- Shipping times
- Problems with the checkout such as:
- Too many steps
- Problems with the sign-up
- Bad site performance (e.g. high page load time)
A high Checkout Abandonment Rate is an indicator that you need to improve your checkout process. But what is a good checkout abandonment rate in ecommerce?
As in our earlier benchmarks, we analyzed Compass’ growing dataset of over $13B in ecommerce transactions. We found that the average checkout abandonment rate in e-commerce was at 25%. If you have a rate of 13% or lower, you’re among the industry’s top performers.
Stores operating in the ‘Food and Drinks’ segment have the lowest abandonment rates, with an average of 19%. Top Food and Drinks performers have an abandonment rate of 7% or less. In contrast, ‘Electronics’ stores experience a much higher abandonment rate (28% on average), while top performers have an 18% average.
Below you can see more abandonment rate benchmarks:
|Food & Drink||13.2%||7.1%|
|Home & Garden||23.9%||13.3%|
|Sports & Recreation||25.2%||12.7%|
|Health & Beauty||26.0%||13.6%|
|Clothing & Fashion||26.8%||15.4%|
|Jewelry & Accessories||27.0%||14.3%|