Fun Fact #7
Finance websites have the highest average abandonment rate of any industry, at 83.6%
According to Salecycle’s Q1 2017 Remarketing Report, websites selling financial services have the hardest time selling online, with 83.6% of website visitors on average abandoning their shopping carts before making a purchase. The second highest was nonprofit at 83.1% followed by travel at 81.7%. Retail was next at 72.8%. Finally, gaming came in last with the lowest cart abandon rate of all industries surveyed at 64.2%.
While no business wants to have high abandon rates, the numbers above point to a huge opportunity for remarketers. eCommerce sector retargeting, aka remarketing ads, have the power to turn abandoned shopping carts into active customers. By showing abandoners ads in search and display of the products or services they almost bought (added them to the shopping cart) but didn’t, remarketing has a way of reminding people to go back and complete their purchase.
Our team recently put together a three part series on retargeting that is helpful for anyone new to these concepts. Read the whole series here:
Understanding Retargeting Part 1: Introduction
Understanding Retargeting Part 2: Dynamic Search
Understanding Retargeting Part 3: Machine Learning (to be published next week, stay tuned!)
Feature Image: Unsplash/ Kai Oberhäuser
Image 1: Screenshot from SaleCycle