“Abandoned baskets” and “abandoned payment”, what is the difference and because of what is the profit lost? (infographic)

    The total profit that was lost last year due to “abandoned baskets”, according to BI Intellegence, reached $ 4 trillion.
    The greatest losses are noted in the sale of electronics, clothes and shoes, food, health and beauty products, furniture, and sporting goods. According to SaleCycle, for this group of goods, on average, 70% of orders remain unpaid. Moreover, in the first quarter of 2015, the travel industry broke records, reaching an indicator of unformed orders - 82%.



    “Abandoned baskets” is an unformed order on the site. If the client nevertheless proceeds to pay for the goods or services, enters the payment data, but his payment still does not pass, then such a purchase can be called conditionally “abandoned payment”. A lot of time is devoted to returning the client to the site and completing the order, but not so much attention is paid to help your potential client complete the payment.

    According to Statista.com, 11% of respondents said that the reason the purchase was not completed was to decline the payment. In addition to declining a payment, the buyer may experience a number of other problems during the payment process that may impede successful payment.

    In the case of abandoned baskets, the lost profit is conditional, since many reasons can serve as the reason that the buyer will not finish the purchase (high price, delivery terms, etc. are not satisfied). 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, only because of a number of problems he cannot complete the payment.

    According to WayForPay statistics, about 32% of all “problematic” payments are due to triggering of limits on the client’s card. Another 23% - do not have enough funds in the account. About 18% need assistance in making payment for the goods.

    With timely assistance to the client during the payment process, specialists of the WayForPay payment monitoring serviceit is possible to convert up to 40% of all unsuccessful payments into successful ones.

    For a small business, the losses associated with the unsuccessful completion of payment on the site may be insignificant, the losses are more visible for a business with a large number of purchases. Although any loss of profit for any business is always a critical issue, especially if these losses can be avoided.


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