48% of “serial abandoners,” defined as online shoppers who abandoned a purchase more than once in the previous 28 days, will buy when remarketed, making this group 2.6 times more likely to buy than one-time abandoners, according to [download page] a December 2011 e-book from SeeWhy. “Recent goal abandoners,” defined as shoppers who have made one or more purchases followed by an abandon in the past 28 days, have the highest recovery rate, at 57%.
Overall, 43% of the sample studied were one-time abandoners, while 42% were serial abandoners, and 15% were recent goal abandoners.
3 in 4 New Visitors Who Abandon Will Return
Data from “The Science of Shopping Cart Abandonment” indicates that when new visitors abandon, only 1 in 4 will not return within a 28-day period, meaning that 75% of abandoners have some degree of intent to purchase and will return to the site to either abandon again or purchase. By contrast, when returning visitors abandon a second time, 53% will not return again within 28 days. However, of the remaining 47% who return, 1 in 4 will make a purchase.
Abandonment Rates Spike at Key Price Points
The analysis shows that there are some key price points at which spikes in the abandonment rate occur: the $100 spike is the most significant and has the highest volume, but there are similar spikes at $250, $400, and $500.
However, low value carts also demonstrate very high abandonment rates. According to SeeWhy insight, the reason is that as the ratio of shipping cost to the value of the basket approaches 100%, customers abandon their cart.
Real-Time Remarketing Has Huge Impact
On average, SeeWhy’s analysis found that 8% of shopping cart abandoners returned without any form of remarketing. However, when a real-time remarketing campaign was added, the total return rate increased to 26%, with the impact on the return rate from remarketing greatest within the first 12 hours following abandonment.
Using customers that made a purchase “straight through” on an e-commerce site as a reference point, SeeWhy discovered that after receiving email remarketing campaigns, those that abandon their shopping carts spend on average 55% more than those who do not abandon their shopping carts. However, the high average order value did not apply to all remarketing campaigns: real-time remarketing campaigns, where the email was sent immediately following the abandon, generated 105% more revenue than the same email sent only 24 hours later. In fact, 30% more shopping carts were recovered by real-time email, and those campaigns also had a 66% higher average order value.
According to an October report from Econsultancy in association with RedEye, although the proportion of companies targeting shopping cart abandoners has decreased from 29% in 2010 to 26% this year, their response times have accelerated. This year 33% of companies that targeted a customer who had dropped off a sale did so within 1-4 hours, a 38% increase from the 24% in 2010. Likewise, the proportion of companies that waited one day or more to target a customer decreased from 49% to 43%.
About the Data: The SeeWhy data is based on a random sample of more than a quarter of a million (264,631) U.S. e-commerce transactions from July through August 2011. The transactions were distributed evenly across a wide variety of different e-commerce sites, with the majority in the Business-to-Consumer market. Overall, 617,247 individually identified e-commerce visitors were profiled as part of this research. In some cases, the sample size was smaller, and is noted on the chart.