Reducing Shopping Cart Abandonment Is A $2 Trillion Opportunity For Online Retailers

An astounding $US4 trillion worth of merchandise will be abandoned in online shopping carts this year, and about 63% of that is potentially recoverable by savvy online retailers, according to estimates from BI Intelligence, Business Insider’s tech industry research service.

Shopping cart abandonment is growing. The data shows that around three-fourths of all shopping carts will be abandoned by online shoppers this year.

In a recent report, BI Intelligence explains what leads a shopper to abandon an online purchase and how retailers can begin to combat rising shopping cart abandonment rates. We collected and analysed data from top e-commerce companies, and spoke with industry experts whose job it is to reduce abandonment rates and boost conversions, to come up with a number of solutions that can help retailers recover lost sales.

Access the Full Report by Signing Up For A Risk-Free Trial Today >>

Here are some key points from the report:

In full, the report:

For full access to all BI Intelligence’s charts and analysis on the e-commerce industry — including downloadable Excel files — sign up for a risk-free trial.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.