Around 70% of online shoppers abandon their carts before completing their purchase according to the Baymard Institute Cart Abandonment Rate Statistics 2024. In the past decade, the cart abandonment rate has consistently stayed between 68% and 75%, highlighting a persistent trend that presents a significant opportunity for conversion rate optimization. This underscores the necessity for online businesses to do everything in their power to simplify the purchasing process catering to customers' preferred shopping methods.
A seamless and effortless shopping experience is crucial in fostering loyalty and satisfaction among consumers. Ensuring a smooth final step in the purchase journey is essential for maintaining a positive brand image and encouraging repeat business.
This guide will explain the difference between conversion and approval rates and walk you through the process of optimizing them.
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Whatever your business needs today or tomorrow, our innovative platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you.
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