An abandoned cart occurs when an eCommerce shopper adds products to their cart but does not complete their purchase.
Customers abandon their carts for a variety of reasons, many of which are simply due to natural shopping habits. It is in every business’s best interest to track their abandoned cart rate and leverage multichannel messaging to re-engage these customers, as they have demonstrated a high purchase intent.
Abandoned carts are effectively money left on the table. Between the US and the EU, there is $260 billion worth of lost orders. These orders are completely recoverable through the right checkout flow and purposeful follow-up marketing.