New report for Q2 shows Aussie online stores suffer more than Asia-Pacific counterparts when it comes to consumers leaving sites without completing their purchase
Australian online stores have a higher cart abandonment rate than Asia-Pacific retailers and are the worst in the world, a new report claims.
The Remarketing Report for Q2, 2016 produced by behavioural marketing agency, SaleCycle, found Australian retailers experienced a 76.4 per cent average abandonment rate between April and June 2016, eclipsing the Asia-Pacific average of 76 per cent. This made Australia the worst performing region for the second quarter in a row. In Q1, the rate in Australia was 74.3 per cent.
Globally, abandonment rates stood at 74.52 per cent in Q2, up from 74.32 per cent in Q1. SaleCycle pointed out that more than 98 per cent of traffic will leave a website without converting.
Fashion retail stores recorded the worst stores in particular compared to global counterparts, with a cart abandonment rate of 73.5 per cent during Q2. This compared to 69.8 per cent in Asia-Pacific and 68.8 per cent globally.
However, travel chalked up the highest abandonment overall globally at 80.1 per cent.
Of particular concern is an upward trend in rates in Australia and Asia-Pacific since the last quarterly results, said SaleCycle chief revenue officer for APAC, Chris Brinkworth.
“There is a very long way to go to match the low abandonment rates of mature markets like Europe and North America,” he said.
According to the Q2 figures, abandonment rates sit at 70.9 per cent in Europe and 74 per cent in North America.
Brinkworth presented the figures at the Online Retailer Expo as a case for why remarketing solutions are important to brands today. The report was based on statistics taken from more than 500 global retail, travel and fashion brands.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu
This year’s Cannes Lions program is packed full of data, robots, algorithms, voice technology, blockchain, virtual reality, artificial intelligence and machine creativity. But I’m just as interested in more subtle trends and insights.
Customer experience is eclipsing product as a competitive differentiator. CMOs are recognising this shift and talking the talk. But are they also walking the walk?
Much of the talk in the industry is focused on the limited amount of time that screens have left in our lives.
In this bonus last episode of this new podcast series, BrandHook MD, Pip Stocks, talks with former ANZ group general manager of marketing, Louise Eyres, talks about the importance of thinking like a customer and using intuition to solve customer painpoints.
You're suggesting that Taylor Swift is a non-brand because we don't know who she votes for, and then you suggest developing brand stories...
Brian 't Hart
Why Gartner thinks brands are too uptight about strategy
Indeed this is the great article but i will love to recommend you to read the case study of Walamrt for get the more and more customers. ...
Eva Buttler
5 steps to customer intelligence success
here is the good news now you can find the all adobe products at walmart .. read this news here at https://creditcardsfair.com/
Yasir Abbas
Adobe: Tech architecture, talent stopping companies making the experience shift
Google is more like a utility. Does a road have a brand? No. Do we use it daily? Of course! And the idea of Taylor Swift as an unbrand be...
Davy Adams
Why Gartner thinks brands are too uptight about strategy
My father had ALS (amyotrophic lateral sclerosis) for 3 years His first symptoms were weakness in his hands and losing his balance which ...
Janice Tollis
Why Gartner thinks brands are too uptight about strategy