APAC region experiences highest cart abandonment rates: remarketing report
Sponsored content: SaleCycle’s most recent remarketing report shows that the APAC region is experiencing the highest rates of online abandonment globally, despite being a mature online market. On 31 May it will hold a webinar addressing the reasons why APAC is falling short of markets such as Europe and North America, and what brands can learn from these regions who are succeeding in converting their online traffic.
The Asia-Pacific region experiences the highest level of cart abandonment rates worldwide, despite being a mature online market, a report has shown.
According to SalesCycle’s ‘The Remarketing Report’ for the first quarter of 2016, 75.9% of online shoppers in Asia Pacific leave behind orders instead of purchasing.
This leaves Asia-Pacific with the highest abandonment rates, followed by Africa and the Middle East (75.7%), Latin America (75.4%), North America (73.1%), with the lowest cart abandonment rates in Europe, at 71.5%
On a worldwide scale, cart abandonment rates are on a steady decline.
The worldwide abandonment rate for 2016’s first quarter was 74.32%, compared to 76.6% in Q3 2015 and 75.45% in Q4 2015.
The report offers three factors which have helped the successful remarketing of online shoppers who’ve abandoned carts.
- Website personalisation: Personalisation and data availability enables businesses to offer potential customers relevant, personalised content when they need it most, online stores can contribute to a decline in abandonment.
- Greater customer insights: Due to the growing awareness of the wants and needs of online customers, marketers can target customers with accurate offers and benefits.
- Market maturity: The lowest abandonment rates are visible in Europe and North America. As other markets worldwide begin to adopt more advanced marketing and retargeting technology, we can expect to see their abandonment rates decline, too.
This presents a point of confusion, where Asian-Pacific markets, too, have knowledge and implementation of advanced ecommerce systems, but still see a high rate of abandonment.
SaleCycle are now placing a focus on educating the APAC market on how they can increase the convenience of online shopping and convert more of their online traffic. This includes ways in which brands can optimise processes and engage website visitors in a personalised way. These learnings from success in other markets will be discussed at their event, ‘What’s Holding APAC Ecommerce Back.’
The report also defines online maturity as sites and online stores which offer multiple payment and delivery methods, to ensure customers have the freedom of choice right up until checkout, and are therefore less likely to abandon carts at the last stage.
Other quarterly remarketing highlights from the report include:
- email click rates: 28.1% of opened emails were clicked at least once,
- conversion from click: 27.6% of emails clicked led to a recovered sale,
- on-site click rate: 10.4% of would be abandonments chose to continue shopping,
- SMS click rate: 15.5% of people went back to view their abandoned selections,
- conversion from click: 28.7% of clicks on SMS links resulted in a recovered sale.
Taken from a consolidation of results from over 500 global brands, the SaleCycle remarketing report looks at cart abandonment data and remarketing stats from January, February and March 2016.
Click here to to register for ‘What’s Holding APAC Ecommerce Back?‘ on 31 May, 4pm AEST.