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Recent
Survey Gives Online Merchants Fifteen Reasons for
Shopping Cart Abandonment
Montreal,
March 12th, 2002- Market researchers say
the rate at which Web consumers abandon their online
shopping carts before making purchases online runs
between 25 percent (Andersen Consulting) on the low end
and 78 percent (Bizrate.com) on the high end. A recent
survey by Global Millennia Marketing, an Internet
e-storefront developer, offers valuable insight into
understanding shopping cart abandonment.
GMM's survey was
conducted via its monthly client newsletters and was
used as part of the design study for development of
IMScart© its newly released merchandising
and shopping cart system. The results detail the
experiences of 833 subscribers as they used shopping
carts on a wide variety of e-commerce sites.
According to the
survey, the top 15 reasons for shopping cart
abandonment, and the percentage of subscribers citing
each as a reason, include:
- Cost of Shipping too high and not
shown until checkout (69%)
- Changed mind and discarded cart
contents (61%)
- Comparison shopping or browsing
(57%)
- Total cost of items is too high
(49%)
- Saving items for later purchase
(47%)
- Checkout process is too long (44%)
- Out of stock products at checkout
time (39%)
- Checkout requires too much personal
information (35%)
- Poor site navigation and long
download times (31%)
- Lack of sufficient product or
contact information (31%)
- Checkout process is confusing (27%)
- Site requires registration before
purchase (23%)
- Site unclear on delivery times
(17%)
- No order tracking options (16%)
- No gift certificates (11%)
"It's unfortunate
that Web retailers are losing customers due to issues
that can be resolved by understanding retailing and
merchandising principles." said John Shenton,
president of Global Millennia Marketing. "These
fundamental issues can have a significant impact on the
underlying business. It can be clearly seen that
shopping-cart-abandonment would drop dramatically with a
well designed e-commerce solution, resulting in
significant increases in revenue and bottom line
profit."
Designed with the
needs of small and medium sized business owners in mind
using the above survey data, IMScart® is an Internet
merchandising system with shopping cart, wholesaling,
B2B, IPOS Inventory control and shipping options for
Internet Merchants utilizing the power, speed and
cross-platform flexibility of PHP and MySQL.
About GMM
Global
Millennia Marketing based in Montreal Canada,
specializes in the development of e-business communities
and powerful Internet e-commerce systems for Small and
Medium sized Businesses. http://www.globalmillenniamarketing.com
GMM Company's unique
mix of services and technology enable businesses to
leverage the global reach of the Internet to their
business.
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