The average cart abandonment rate worldwide was 73.9% in the 12 months ending July 2024, according to data from Dynamic Yield.

• Among eight categories, luxury and jewelry had the highest cart abandonment rate, at 81.4%, and consistently experienced the highest rates, averaging around 80% in the 12 months ending July 2024.
• Given the high price points and longer consideration times of luxury purchases, it’s not surprising the category has the highest cart abandonment rates.
• Pet care and veterinary services had the lowest average abandonment rate in July 2024 at 52.8%, with a 12-month average of 56.1%.
• This might be due to the necessity-based nature of many purchases in this category, where pet owners are more likely to purchase essential products like food or medications.

Why it matters: “Cart abandonment is a huge issue for online retail,” our analyst Sky Canaves said on a “Behind the Numbers: Reimagining Retail” podcast last year, citing that just over 70% of shopping carts are abandoned, according to data compiled by Baymard Institute from the past two decades.

• The No. 1 reason US adults abandoned their online shopping cart at checkout was due to extra costs (shipping, tax, fees) being too high, according to a February 2024 survey from Baymard.
• Consumers also abandoned their carts because the site wanted them to create an account, they didn’t trust the site with their credit card information, or delivery was too slow.
• US consumers also expressed frustration with promo codes not being applied to their carts, according to an October 2023 survey from Bizrate Insights and Digital Commerce 360.

What can retailers do? Here are some strategies that can help retailers improve the customer experience and keep abandonment rates down.

• Retailers should ensure the checkout and payment process is as seamless as possible, providing multiple payment options and enabling the use of mobile wallets or one-click checkout.
• “Complicated checkout processes and [a] lack of preferred payment options are some of the leading reasons why shoppers abandon carts. It’s also something that’s [within a] retailer’s control to manage,” said Canaves.
• Delivery windows and additional fees should be clearly stated early and often so there are no surprises when customers arrive at checkout.

This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.