Listrak launches e-commerce industry's first daily, six-month-average online shopping cart abandonment index; consumers' shopping cart abandonment cost retailers US$18B last year
February 2, 2012
– Listrak, an email marketing solutions provider for the leading internet retailers, today launched the e-commerce industry's first daily and six month average Shopping Cart Abandonment index, which tracks cart abandonment rates of online shoppers from the company's top internet retail clients. In an effort to help online retailers recoup sales, the index provides a daily abandonment rate with the ability to expand the timeline and identify trends over a period of time. Until now, the e-commerce industry only had access to annual abandonment rates published by Forrester Research, which last year estimated the cost to be $18 billion.
Listrak's new index provides a closer look at fluctuations in shopping cart abandonment and the ability to identify specific moments within a given timeframe. For example, a look at the 2011 holiday season revealed the lowest abandonment rate at 67.66% was on December 16th, "free shipping day." This was more than 1% lower than Cyber Monday, the second lowest abandonment day at 68.88%.
"The impact of cart abandonment to retailers' e-commerce revenue is far too great to ignore," said Ross Kramer, Co-founder and CEO of Listrak. "We've received positive feedback from our internet retail clients about our Shopping Cart Abandonment solution and how this was helping their business and wanted to create a way to share this knowledge with the industry as a whole to help combat the issue further."
With data and metrics growing in interest among online retail marketers as a way to better target messaging and offers to their customers, Listrak's Shopping Cart Abandonment index can help inform the best timeframes to test free shipping and other offers during times of higher shopper abandonment.
To access Listrak's Shopping Cart Abandonment Index, please visit: http://www.listrak.com/sca-index
Listrak is an email marketing solutions provider that works with online retailers to drive revenue growth, profitability and increase the lifetime value of customers. Founded in 1999, the company's solution suite boasts analytics technology that enhances campaign performance, shopping cart abandonment solutions that help recoup lost revenue, post purchase solutions to increase lifetime value, seamless integration across multiple platforms as well as email, mobile, sweepstakes and more. Listrak has more than a decade of email marketing experience and works with leading U.S. online retailers including Waterford, Ten Thousand Villages, Swell, Vintage Tub, and La-Z-Boy.