Study: Consumers Redefining Convenience, Increasing Cart Abandonment Rates
Recent research shows consumers are increasingly sensitive to shipping and return costs, with 70% abandoning carts due to shipping fees. Amazon and Walmart have become the preferred channels for discovering new brands.
What are the key facts?
- 1Abandonment reasons: 70% due to shipping fees, 67% due to return fees
- 2Discovery channels: 44% of consumers prefer Amazon/Walmart
What happened?
The latest survey by ICSC and Radial reveals that consumers are reevaluating the value of convenience. 70% of online shoppers have abandoned carts due to shipping costs, with 67% indicating return fees reduce purchase intent. Currently, Amazon and Walmart are the primary channels for discovering new brands, accounting for 44%.
What does this mean for cross-border sellers?
Sellers need to optimize pricing strategies, considering internalizing logistics costs or offering more transparent return policies to reduce cart abandonment rates and enhance conversion. Immediate recommendation: review and improve the transparency of return policies without delay.