Online payment service, PayPal commissioned a survey (conducted by comScore) through its SMB merchant services division to find out why online shoppers are abandoning their carts. According to PayPal, the average cost of abandoned goods in U.S. shopping carts is $109—and that adds up to a lot of missed sales for online merchants.
The PayPal survey revealed that nearly half of online shoppers have abandoned their carts multiple times over a period of three weeks due to high shipping costs, security concerns and a lack of convenience during the check-out process.
The survey showed that high shipping cost was the largest single reason for cart abandonment. Additionally, the survey found that if merchants had provided shipping costs upfront, this might have caused 40 percent of participants to complete the purchase.
Save the Sale with New PayPal Tools and Data
By Vangie Beal, July 9, 2009