Abandoned cart reports

Analyzing the data from your WooCommerce abandoned carts can offer valuable insights for enhancing your business revenue. CartBounty provides a range of abandoned cart reports, including cart abandonment rate, average shopping cart value, recovered revenue, top abandoned products, and more. This guide aims to provide you with all the essential information about CartBounty’s analytics and how to use them to improve your business results.

Why data matters
Reports in CartBounty
Cart abandonment rate
Cart recovery rate
Average cart value
Top abandoned products

1. Why data matters

Improving something becomes challenging without measurement. Luckily, CartBounty tracks shopping cart data, offering valuable insights to streamline your store’s checkout workflow and make informed decisions. Here are a couple of ways you can use CartBounty abandoned cart report data:

Improve order conversion rate and lower shopping cart abandonment rate
Find out and assess the need for user experience enhancements in your store
Tailor strategies for top abandoned products, focusing on details like descriptions, images, pricing, discounts etc.
Use data from average cart value to create marketing strategies and discount policies
Conduct additional research to address the highlighted pain points

Abandoned cart reports for WooCommerce from CartBounty

2. Reports in CartBounty

CartBounty provides various sets of cart quick stats as well as data represented in charts which can be turned on or off depending on your preferences. Here is a list of all currently available reports in CartBounty.

Cart abandonment rate
Abandoned carts
Anonymous carts
Cart recovery rate
Recoverable carts
Recoverable revenue
Recovered carts
Recovered revenue
Average cart value
Top abandoned products

Please note that CartBounty supports stores with multiple currencies. In such instances, each currency will be presented in separate reports.

3. Cart abandonment rate

Online shopping cart abandonment is the process of adding products to the cart and leaving the website without finishing the order. As unfortunate as the situation is, each and every online store is dealing with this issue. Abandoned carts are an integral part of online shopping experience and CartBounty provides the means and tools to measure cart abandonment rate.

CartBounty calculates the cart abandonment rate by dividing the total number of abandoned carts by the total number of initiated shopping carts, including ordered and recovered carts.

[abandoned cart count] / [total cart count] * 100 = [abandonment rate]

This metric provides valuable information about the percentage of customers who start the checkout process but do not complete their purchase. A high abandonment rate may indicate issues with the checkout process, pricing, or other factors driving customers away. Keep an eye out for this report when you are making changes to your store, running sales campaigns or doing nothing specific at all to identify areas for improvement and implement strategies to enhance the shopping experience, ultimately lowering cart abandonment rate and raising sales.

4. Cart recovery rate

Abandoned cart recovery is the process of trying to recover lost sales from customers who have abandoned their shopping carts. CartBounty provides tools like Exit Intent, Early capture and others to increase recoverable shopping carts. Cart recovery rate is calculated by dividing the number of recovered carts by the total number of recoverable carts.

[recovered cart count] / [recoverable cart count] * 100 = [recovery rate]

This is another valuable metric that can be used as a key performance indicator or KPI to measure the effectiveness of your abandoned cart recovery campaigns. It can provide valuable insights into the success of your cart recovery strategies and help identify areas for improvement.

Compare your recovery rate with your store’s historical data or the industry standards, which typically range between 3% and 5%. This will help you determine if your abandoned cart recovery strategies are effective or require improvement. Monitor this data closely when making adjustments to your abandoned cart recovery strategies as it will help you understand if the changes have had a positive impact on your store’s conversion rates and encourage customers to complete their purchases.

5. Average cart value

Another valuable metric in CartBounty reports is average cart value. Average cart value is often used by online businesses to understand customer purchasing behavior and can be used for strategic decision-making. It is calculated by dividing total shopping cart revenue by the total number of carts, including ordered and recovered ones.

[total cart revenue] / [total cart count] = [average cart value]

There are multiple ways you can use average cart value data to your advantage. It can assist in determining the minimum cart value required for customers to qualify for free shipping or a discount, potentially leading to increased revenue. Additionally, it can provide insights into the effectiveness of your marketing campaigns. For example, if there’s an increase in average cart value during a campaign period, it indicates that customers are successfully being encouraged to spend more.

6. Top abandoned products

The top abandoned product report highlights products that most frequently end up being abandoned, offering valuable knowledge into items generating high initial interest but face conversion challenges. From here you can start analyzing these products to identify any areas that may require improvement, such as product images, descriptions, available customization options, pricing strategy, or the overall user experience.

Making even slight improvements in the conversion rates of these top abandoned products can bring impactful benefits and contribute to your sales goals.

What’s next

This guide covers the value of abandoned cart data and introduces the various cart reports offered by CartBounty. It provides different ways and examples how data from these reports can be used to improve your store’s performance. You might find the following topics useful to learn how CartBounty features can help you start sending effective abandoned cart recovery messages and use tools to maximize conversions.

Last updated 5 months ago