Retailers losing out from abandoned online shopping carts
A survey on the abandonment of online shopping carts commissioned by Genesys in the UK to understand how engaged online retailers are in assisting their potential customers came up with some damning results.
During this survey, around £140 of goods were put into the online shopping carts of 75 of the top UK retailers, which were subsequently abandoned before the check out. Only 15% of the 75 retailers studied followed up with an email or phone call within 24 hours, and only 5% followed up again in the subsequent 24 hours. None proactively engaged with the customer during the online shopping session despite customers being active on the website for the entire time before the abandonment. Just 7% of the companies had chat as an available option, and none of them used this option during the process.
“We were shocked at the amount of retailers that didn't follow up on the abandoned shopping carts, despite the customer being online the entire time as well as providing their contact details,” said Brendan Dykes, Director of Strategic Marketing, Genesys. “To put the results in other words, of the potential £10,830 revenue on offer to the retailers, £9,180 was not pursued at all, and only £1,650 was pursued after the shopping cart had been abandoned. This wouldn't happen in bricks and mortar stores, where assistants would be only too keen to follow-up or cross-sell and up-sell.”
"Other industry research shows that over 65% of online shopping carts are abandoned. In an online store, not only is business lost, but the store would probably lose customers to their competition too. Retailers should not just follow-up afterwards by email or phone, but should also look to make simple additions to the online customer experience such as adding web chat – this can make a real difference to the customer, and help them find what they want," concluded Brendan Dykes.