Ecommerce - Online shopping cart abandonment rate increases

03/06/2008

Shopping cart abandonment rates have increased by 2.68 per cent since the first quarter of 2007, according to recent data from MarketLive.

The increase is likely to be down to economic, rather than security reasons say MarketLive, with consumers shopping around more for bargains.

Consumers are simply comparing prices and services more, making sure they are getting value for money.

Despite the increase in abandonment rates, ecommerce is expected to out perform traditional commerce as the world faces up to the current financial climate.

"Some consumers plan to increase online spending to save gas money or find bargains," said eMarketer senior analyst Jeffrey Grau said.

"Also, affluent shoppers, who form the core of online buyers, tend to ride out economic downturns better than lower- and middle-income consumers."

A separate study by Pay Pal suggests that the main reason for shopping cart abandonment is that the cost of shipping is too high.

Of those questioned, 43 per cent cited this as the reason they abandon their ecarts.