This article appeared on forbes.com on May 25, 2021.
Brands and retailers spend more than $1 trillion every year on marketing and advertising to get consumers to buy their products. They attract shoppers to their websites, create smarter experiences, entice them to select their products and usher them to the checkout area. Unfortunately, more times than not, the shopper walks away (virtually).
Salesforce recently released the Q1 2021 Shopping Index that highlights digital shopping trends based on the analysis of 1.2 billion shoppers making 22 billion digital commerce visits representing 51 countries. According to the report, the global cart abandon rate in Q1 was 87%, and the global mobile abandon rate was 93% — including a 94% mobile abandon rate in the U.S.
Trillions of dollars invested, yet the majority of shoppers abandon their online shopping carts before completing a purchase. Why? Somewhere between adding an item to their basket and paying for it, the majority of consumers experience some degree of doubt.
When did online shopping become so complex?