Bold Commerce, the ecommerce technology company that powers checkout and subscription experiences for the world’s leading retailers and emerging DTC brands, today released The Checkout Benchmark .
The new benchmark research reveals that nearly half ( 48% ) of shoppers that initiate the checkout process on an ecommerce site are abandoning before completing their purchase. And on mobile, the number is even higher: 58% abandon their purchase after proceeding from cart to checkout, but before completing their order.
The inaugural report explores shopper dropoff that occurs specifically during checkout, exposing key reasons shoppers abandon at this critical stage, including friction and poor user experience related to payment options, shipping and device experience.
Retailers have long focused on cart abandonment, due in large part to the 70% of shoppers that abandon their cart before making it to checkout to purchase. The industry’s laser focus on cart abandonment has built an assumption that if retailers can get shoppers from cart to checkout, they’ll complete the purchase.
It’s for this reason that checkout abandonment is often an unrecognized hurdle for retailers. The Checkout Benchmark establishes the industry’s first series of metrics for brands to measure their checkout performance compared to other retail brands.
The research analyzed data from 3 million checkout sessions, generating $138M in revenue across 80+ retailers to uncover the true story of checkout performance and variables impacting checkout completion rate…
