Behavioural Marketing Solutions Company SaleCycle, has released the results of its quarterly remarketing report for Q3 2016.
Taken from a consolidation of results from over 500 global brands, the remarketing report looks at all the key cart abandonment and remarketing data from July, August and September 2016 and shows that the top reason for abandoning online shopping was due to users just researching (34 per cent), shipping costs or times not being acceptable (18 per cent), prices being too high (18 per cent) or them preferring to buy in-store (15 per cent).
This highlights the struggle for online retailers to stay price competitive in terms of their products and services, as well as shipping costs in a very saturated market.
For the first time, this report includes average abandonment rates in industries such as Financial Services and eGaming.
The travel sector continues to see the highest average rates of abandonment at 80.4 per cent. The inclusion of the financial sector into this quarter’s report has shown that the travel industry is not alone. Financial services is seeing an average 79.3 per cent of people who start applications or purchases on a financial services site, but leave before completing them.