Shopping cart abandonment is one of the biggest nightmares for any ecommerce business. It can have big, bad, and pervasive effect on the sales and revenue of your online store.
Baymard’s latest stats indicate the average documented online shopping cart abandonment rate at a scary 68%. The problem can even become acute with each passing year if you fail to track the elements that are causing such an issue.
The reasons behind cart abandonment are many, but the ones related to real-time tracking are critical and should be addressed as soon as you come across them:
Real-time analytics can enable you to use your store data efficiently in order to understand the cart abandonment rate and stay aware of the unusual patterns in user behaviour. With this, you can identify the friction areas in your marketing strategies, and use the knowledge to understand the ‘why’ behind the customers abandoning their shopping carts.