Understanding Shopping Cart Abandonment
Understanding customer behavior on your e-commerce store can be the key to driving customer retention and decreasing shopping cart abandonment. There are two methods to analyzing shopping cart abandonment on your site; funnel and cohort. Utilizing these methods will allow you to follow customer behavior, and discover where your store is losing business.
“A funnel provides a step-by-step breakdown of a customer’s journey on your site”
A funnel provides a step-by-step breakdown of a customer’s journey on your site. This is especially helpful for an in-depth analysis of your checkout process.
Here we can identify various stages of the customer’s journey on your site.
As we see in the graphic above, a significant amount of customers are abandoning the cart at the payment step. This could be for a variety of reasons such as payment options offered, issues with the payment landing page, or layout problems.
A cohort allows you to analyze how users behave over time.
In this example, we see that over 50% of customers who open a cart will view the cart again the next day. Some even revisited their cart up to a week later. So why aren’t they completing their purchase? This requires you to delve deep into the behaviors of your customers. Analyze specific sessions and follow every step the customer takes until they abandon their cart. Then identify users who are abandoning at the same stage and decide what you need to change.
Shopping cart abandonment may not be 100% eradicated, but understanding why some users aren’t completing their purchases can provide valuable information and allow you to tailor your e-commerce store to better suit your customers.