Ecommerce businesses face a significant challenge with cart abandonment, with nearly 70% of potential sales lost when shoppers fail to complete their purchases. According to the Baymard Institute, the average online cart abandonment rate is between 69.82-69.99%. This translates to a substantial loss in revenue, estimated at $18 billion annually. Implementing discount triggers can help …
Online retailers face a significant challenge with cart abandonment, a phenomenon where potential customers add items to their cart but fail to complete the purchase. According to the Baymard Institute, the average online cart abandonment rate is a staggering 69.99%, translating to $18 billion in lost revenue annually. This article explores how implementing an abandoned …