The trend of shopping cart abandonment has surged in parallel with the growth of e-commerce. Statistics reveal that close to 70% of online shoppers leave their carts without finalizing their transactions, leading to a massive loss of revenue for businesses globally.
The article on Digital Information World discusses the issue of shopping cart abandonment and how businesses can use web analytics tools to analyze shopping cart abandonment data. By tracking a range of data points related to shopping cart activity, such as UTM parameters, source, lousy traffic, device, e-commerce parameters, shipping cost, discounts, and shopping cart details, businesses can gain insights into customer behavior and identify potential issues that may be causing them to abandon their shopping carts.
The article also provides an example of a web analytics tool, Finteza, and explores how businesses can use it to collect and analyze shopping cart abandonment data.
Additionally, here listed the most common reasons for e-commerce shopping cart abandonment, such as unexpected costs, a complicated checkout process, website errors and technical issues, and comparison shopping.
Finally, Finteza offers some steps businesses can take to identify and address cart abandonment issues using web analytics data, such as analyzing the cart abandonment funnel, segmenting and filtering data, and creating custom events to track specific customer actions during the shopping process. With the right approach and tools, businesses can make the most out of shopping cart abandonment data and improve their bottom line.