A PayPal survey has revealed that nearly half (45 percent) of online shoppers have abandoned their carts multiple times in the past three weeks due to high shipping costs, security concerns and lack of convenience. The average cost of abandoned goods in U.S. shopping carts is $109.
High shipping costs was cited as the largest single reason for cart abandonment. While nothing could have prevented one-third of shoppers from abandoning purchases, the survey found that providing shipping costs upfront might have caused 40 percent to complete the purchase.
The survey also uncovered signs that the economy still has shoppers wary about clicking the "purchase" button. More than one-third of respondents abandoned checkout because they didn't plan for all of the expenses; while more than 25 percent left the site to search for a coupon. However, one-third of shoppers later returned to the same site to buy. An additional 20 percent purchased the items at a brick and mortar store or competitor's Web site.
Breakdown on Why Shoppers Abandon
At least a fifth of all U.S. survey respondents cited the following as very important reasons for cart abandonment:
--High shipping charges: 46 percent
--Wanted to comparison shop: 37 percent
--Lack of money: 36 percent
--Wanted to look for a coupon: 27 percent
--Wanted to shop offline: 26 percent
--Couldn't find preferred pay option: 24 percent
--Item was unavailable at checkout: 23 percent
--Couldn't find customer support: 22 percent
--Concerned about security of credit card data: 21 percent