Battling E-Commerce Basket Abandonment in a Zero-Tolerance Era

In today’s volatile retail landscape, UK retailers are losing a staggering £34.4 billion annually to e-commerce basket abandonment – an increase of £2.9 billion on 2023. If you’re tired of missing out on potential sales revenue due to abandoned online purchases, the new 2024 Basket Abandonment Report provides essential insights and underscores the critical need to address consumer expectations head-on.

The incisive report, published by GFS* (pioneers in multi-carrier technology), in partnership with Retail Economics, delves into today’s era of zero-tolerance and explores the psychological triggers behind abandoned carts across UK online retail. It reveals how customers’ purchasing decisions are made meticulously, and influenced by factors such as economic confidence and rapid technological changes. Today, both delivery and returns are indispensable aspects of the online shopping experience, and not mere conveniences.

Why does basket abandonment matter?

Reducing basket abandonment is critical to retail brands for four key reasons:

• Lost revenue: Every abandoned basket is a lost sale
• Higher customer acquisition costs: Failure to convert undermines the return on marketing investment
• Re-targeting costs and loyalty erosion: Re-targeting customers requires resource to re-engage, adding to operational costs and eroding loyalty
• Brand damage: Negative delivery experiences damage brand reputation

Top delivery factors impacting basket abandonment

27% of baskets are abandoned due to lack of delivery options!

The report examines the top five drivers of basket abandonment this year. With delivery factors playing such a key and growing role in the purchase experience, the survey reveals why consumers stop their orders at checkout stage, and compares 2024 with 2023 data. Common causes include frustration with delivery charges, lack of delivery choice, or an expectedly long wait for delivery. Alarmingly, 27% of abandoned baskets are triggered by the shopper’s ‘increased dissatisfaction with choice of delivery options’! The report also delves deeper into the trends that shape abandonment behaviour, including how consumers balance choice of delivery options vs costs, and whether shoppers are willing to pay for premium delivery services.

Tackling basket abandonment with a trusted partner

Working with trusted fulfilment and delivery partners like ILG and GFS empowers brands to conquer these checkout challenges. We help brands to drive online sales, by winning customer loyalty and overcoming their logistical issues. Our managed multi-carrier delivery services provide benefits such as a portfolio of world-class carriers, highly competitive pricing and hands-on guidance from expert delivery teams to despatch your products worldwide. All this helps you stay ahead of rapidly escalating consumer expectations and provides the choice, value and quality your customers expect – to keep them purchasing from you again and again.