"Abandoned baskets" and "abandoned payment" what is the difference and why is profit lost? (infographics)
The total profit figure, which was lost last year due to “abandoned baskets”, according to BI Intellegence estimates reached 4 trillion dollars.
The greatest losses are observed in the sale of electronics, clothing and footwear, food, goods for beauty and health, furniture, and sporting goods. According to SaleCycle, an average of 70% of orders remain unpaid for this group of products. Moreover, in the first quarter of 2015, the travel-industry broke records, reaching the figure of unformed orders - 82%.
“Abandoned baskets” is an order that has not been completely completed on the website. If the client still goes to pay for goods or services, enters payment information, but his payment does not go through, then such a purchase can be called conditionally “abandoned payment”. A lot of time is spent to return the client to the site and complete the order, but not much attention is paid to help his potential client complete the payment.
According to Statista.com, 11% of respondents indicated that the reason for which the purchase was not completed is the rejection of the payment. In addition to declining the payment, during the payment process, the buyer may have a number of other problems that may impede the successful payment.
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In the case of abandoned baskets, the lost profit is conditional, since there are many reasons that the buyer will not complete the purchase (high price, conditions of delivery, etc.). In the case of “incomplete payments”, the lost profit is more real - the purchase decision has already been made and the buyer is ready to make a purchase, but due to a number of problems cannot complete the payment.
According to the statistics of the WayForPay system, about 32% of all “problem” payments occur due to the triggering of limits on the client card. Another 23% do not have enough funds in the account. About 18% need help in making payment for the goods.
With timely assistance to the client during the payment process, the specialists of the payment monitoring service of the WayForPay system can convert up to 40% of all unsuccessful payments into successful ones.
For small businesses, the losses associated with the unsuccessful completion of payment on the site may be insignificant, the losses are more obvious for a business with a large number of purchases. Although any loss of profits for any business is always a critical issue, especially if these losses can be avoided.
The greatest losses are observed in the sale of electronics, clothing and footwear, food, goods for beauty and health, furniture, and sporting goods. According to SaleCycle, an average of 70% of orders remain unpaid for this group of products. Moreover, in the first quarter of 2015, the travel-industry broke records, reaching the figure of unformed orders - 82%.
“Abandoned baskets” is an order that has not been completely completed on the website. If the client still goes to pay for goods or services, enters payment information, but his payment does not go through, then such a purchase can be called conditionally “abandoned payment”. A lot of time is spent to return the client to the site and complete the order, but not much attention is paid to help his potential client complete the payment.
According to Statista.com, 11% of respondents indicated that the reason for which the purchase was not completed is the rejection of the payment. In addition to declining the payment, during the payment process, the buyer may have a number of other problems that may impede the successful payment.
')
In the case of abandoned baskets, the lost profit is conditional, since there are many reasons that the buyer will not complete the purchase (high price, conditions of delivery, etc.). In the case of “incomplete payments”, the lost profit is more real - the purchase decision has already been made and the buyer is ready to make a purchase, but due to a number of problems cannot complete the payment.
According to the statistics of the WayForPay system, about 32% of all “problem” payments occur due to the triggering of limits on the client card. Another 23% do not have enough funds in the account. About 18% need help in making payment for the goods.
With timely assistance to the client during the payment process, the specialists of the payment monitoring service of the WayForPay system can convert up to 40% of all unsuccessful payments into successful ones.
For small businesses, the losses associated with the unsuccessful completion of payment on the site may be insignificant, the losses are more obvious for a business with a large number of purchases. Although any loss of profits for any business is always a critical issue, especially if these losses can be avoided.
Source: https://habr.com/ru/post/291890/
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