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
It’s day 4 in Cannes and among the ever-growing divergent panels, presentations and workshops spanning from one end of the Croisette to the other, there has been a very real emergence of how artificial intelligence (AI) and machine learning needs to fit into the marketing ecosystem of today and tomorrow.
Does it ever seem like the content you create falls flat on its face or that the leads you’re generating aren’t worth following up?
So you want to be a brand with purpose. But what does it actually mean to build a brand with real meaning?
In the 11th and final episode of the Closing the Gap podcast series, produced by Brandhook, Asahi Beverages’ former marketing strategy director, Darryn Wallace, chats about delivering a true ROI on marketing programs.
Typo"claiming no other email service protects its users form spam, hacking and phishing as successfully as Gmail"I'm sure Google can help...
OlliesBlog
Google to stop scanning personal Gmail accounts for ad targeting
It is interesting. Rebrand is very good. Perhaps they should change the logo to something more modern. For example as it is - https://www...
David Hill
Grace Group undergoes first rebrand in 30 years to unify and contemporise
Hey Guys, just one small typo that changes a part of the story :“That was a really big step forward for our company because we didn’t hav...
Damian Young
Chobani tastes success with data analytics platform
This is amazing! Congratulations to Cochlear for continuing to lead innovation in every way!
Chris
How this marketing ops leader is lifting the automation ante at Cochlear
Interesting case! It seems like universities can also benefit from marketing automation. I've started using getresponse some time ago and...
Aaren
How marketing automation is helping drive CX change at Adelaide University