Abandoned checkout recovery refers to the process of re-engaging with customers who have added items to their online shopping carts but left the website without completing the purchase. The abandonment rate is the percentage of customers who abandon their carts without making a purchase.

According to a study by Baymard Institute, the average cart abandonment rate across industries is around 69.57%. This means that only about 30% of customers actually complete their purchases. However, the abandonment rate can vary significantly depending on the industry, website design, and checkout process.

To recover abandoned checkouts, businesses employ various strategies and tactics. Here are a few examples:

1. Email Remarketing: Sending personalized emails to customers who abandoned their carts is a common practice. These emails typically include a reminder of the items left in the cart, attractive offers, and a call to action to complete the purchase. For instance, a clothing retailer might send an email with a subject line like "Don't miss out on your favorite items!" and offer a limited-time discount code.

2. Retargeting Ads: Displaying targeted ads to customers who abandoned their carts when they visit other websites or social media platforms can be effective. These ads serve as reminders and can include special offers or incentives to encourage customers to return and complete their purchase. For example, an online electronics store might display ads showcasing the abandoned products with a tagline like "Still interested? Complete your purchase now and get free shipping!"

3. Live Chat Support: Offering live chat support during the checkout process can help address any concerns or questions customers may have, potentially reducing the likelihood of abandonment. It allows businesses to provide real-time assistance and guide customers towards completing their purchase. For instance, a software company could have a live chat pop-up that offers help with any technical difficulties during the checkout process.

4. Simplified Checkout Process: Streamlining the checkout process by minimizing steps, reducing form fields, and enabling guest checkout options can significantly reduce abandonment rates. Long and complicated checkout processes often lead to frustration and abandonment. For example, an online grocery store could offer a one-click checkout option for returning customers, saving them time and effort.

5. Exit Intent Pop-ups: Implementing exit intent pop-ups can capture customers' attention when they are about to leave the website. These pop-ups can offer incentives like discounts, free shipping, or exclusive deals to entice customers to reconsider their decision to abandon their carts. For instance, an online bookstore might display a pop-up saying, "Wait! Get 10% off your order if you complete the purchase now!"

It's important for businesses to continuously analyze and optimize their checkout process to minimize abandonment rates. A/B testing different strategies, monitoring analytics, and collecting customer feedback can help identify areas for improvement.

References:

• Baymard Institute: https://baymard.com/lists/cart-abandonment-rate