Top Checkout Abandonment Metrics and Tactics for Retailers in 2024

Checkout abandonment is a major obstacle for eCommerce retailers, with abandonment rates often reaching 80%. Understanding the key drivers and tracking specific metrics can help reduce abandonment and increase sales.

Key Metrics to Track in 2024

• Checkout Abandonment Rate (CAR): On average, 70% of users abandon carts before completing their purchase. Monitoring CAR helps identify barriers like unexpected costs, lengthy processes, or security concerns.
• Cart-to-Checkout Conversion Rate (CCR): This metric shows the percentage of users moving from cart to checkout, with low rates pointing to early friction.
• Payment Failure Rate: Payment issues, whether technical or due to limited options, are responsible for up to 5% of cart abandonments. Reducing failure rates with more payment methods can significantly boost conversions.
• Mobile vs. Desktop Abandonment: Mobile checkout abandonment is consistently higher, largely due to poor user experiences on smaller screens. Optimizing mobile checkout design is essential as mobile shopping continues to rise.

Combatting Abandonment with Personalization and Automation

Reducing cart abandonment requires a focus on simplifying the checkout process and personalizing the customer experience. This is where omnichannel strategies excel. By utilizing tools like ContactPigeon’s omnichannel customer engagement platform, retailers can implement targeted abandonment recovery tactics, such as email reminders, SMS notifications, or personalized offers.

These real-time interactions, powered by ContactPigeon’s advanced customer data platform (CDP), allow brands to engage customers across multiple channels, addressing common barriers and improving conversion rates.

For deeper insights into optimizing checkout abandonment rates, explore the blog post: https://blog.contactpigeon.com/checkout-abandonment-all-the-stats-and-metrics-for-retailers-2024/