Behavioural Marketing Solutions Company SaleCycle, has released the results of its Remarketing Report for Q2 2016 ahead of the Sydney Online Retailer event, which says that Australian online stores had the highest cart abandonment rate globally last quarter and are performing worse than their international competitors, particularly in fashion. Taken from a consolidation of statistics from over 500 global retail, travel and fashion brands, the report reveals key cart abandonment and remarketing statistics from April, May and June 2016.
SaleCycle’s Remarketing Report for Q2 reveals an average abandonment rate for Australian online retailers at 76.4%, higher even than the APAC average of 76%, which stands out as the worst performing region globally for the second quarter in a row.
Australian online fashion stores performed particularly poorly and they lost the most consumers at the point of purchase, with a cart abandonment rate of 73.5% in Q2 compared to just 69.8% in APAC and just 68.8% globally.
“Australia has the highest retail abandonment rate globally, and it performs particularly badly in the fashion sector compared to its international competitors. Considering all the blood, sweat and money retailers spend driving traffic to their sites, to have them disappear without purchasing in these high numbers is worrying,” said Chris Brinkworth, Chief Revenue Officer for APAC, SaleCycle.
“Of particular concern is that our Remarketing Report for Q2 shows an upward trend in retail cart abandonment in Australia and Asia Pacific since the last quarter. There is a very long way to go to match the low abandonment rates of mature markets like Europe and North America, which have widely adopted remarketing tools that give them the ability to communicate quickly and efficiently with visitors who abandon online.”
Q2 Remarketing Report highlights for APAC/Australia:
- Australian online abandonment rate for Q2: 75.35% (74.3% in Q1)
- Australian fashion abandonment rate Q2 2016: 73.50% (69.8% in APAC)
- APAC has the highest regional global abandonment rate for Q2: 76.30% (75.9% in Q1)
- Global abandonment rate for Q2 2016 was 74.52% (74.32% in Q1)
- Global retail abandonment rate for Q2 2016 was 74.60%
- Global fashion abandonment rate for Q2 2016 was 68.80%
With more than 98% of traffic leaving websites without converting, SaleCycle provides a personalised safety net for marketers. Its technology is designed to engage website visitors, prevent abandonment from carts and sign-up forms, and reconnect companies with visitors who do exit.
SaleCycle provides its online abandonment solutions to over 60 enterprise companies across APAC including Sunglass Hut, Lorna Jane and Chemist Warehouse in Australia. Internationally it works with brands including Ralph Lauren, IKEA and Virgin Atlantic.
Chris Brinkworth, Chief Revenue Officer at SaleCycle is speaking at the Online Retailer conference in Sydney on Thursday 21st July at 12.35pm about the major issue of cart abandonment.
Founded in 2010, behavioural marketing company SaleCycle helps businesses create better customer journeys online. Putting customers at the heart of everything they do, SaleCycle uses behavioural data to help optimise conversion rates, recover abandoned sales and increase customer lifetime value. The end result is increased online sales. With offices in the USA, UK, France and Singapore, SaleCycle fuels the growth of over 500 companies, including the likes of Ralph Lauren, IKEA and Virgin Atlantic. Find out more at: www.SaleCycle.com