For WooCommerce users, understanding the trends and statistics around WooCommerce Cart Recovery can provide valuable insights to optimize their strategies and improve their conversion rates. Let's dive into some insightful statistics and trends in WooCommerce Cart Recovery.
The Challenge of Cart Abandonment
Cart abandonment is a common issue in eCommerce, with the global average abandonment rate hovering around 69.57% according to Baymard Institute. This means nearly seven out of ten shoppers leave their carts without completing the purchase. For WooCommerce store owners, this represents a significant potential revenue loss.
The Power of Cart Recovery
Fortunately, effective cart recovery strategies can help reclaim a substantial portion of this lost revenue. Research indicates that abandoned cart emails have an average open rate of 45%, and of those opened, approximately 21% lead to a recovered sale. This highlights the importance of implementing a robust WooCommerce Cart Recovery system.
Statistics and Trends that Highlight the Significance of WooCommerce Cart Recovery
Understanding why customers abandon their carts during the checkout process is crucial for improving conversion rates. Here are the top reasons for cart abandonment based on 2024 data:
48% of shoppers abandoned their carts due to high extra costs such as shipping, taxes, and fees.
26% left because the site required them to create an account.
25% did not trust the site with their credit card information.
23% found the delivery options too slow.
22% were deterred by a lengthy or complicated checkout process.
21% abandoned their purchase because they couldn't see or calculate the total order cost upfront.
18% were unhappy with the store's return policy.
17% experienced website errors or crashes.
13% found that there weren't enough payment methods available.
9% had their credit card declined during the checkout process.