10 Retail Data Points that Highlight the Value of Fast Shipping
We’re constantly pouring over the latest data and research within the retail, e-commerce and logistics industries, looking for great nuggets and interesting trends. Much of the research that caught our eye between 2019-2022 focused in on how to help retailers maximize the efficiency of online shopping, by curbing cart abandonment.
When digging into this information, there's a clear correlation between how often online shoppers abandon items before purchase, and their desire to receive free or fast shipping. For retailers making the shipping experience a key part of the shopping experience is a simple and effective way to boost online purchases.
Here are ten key stats that reinforce this idea.
There's a Strong Link Between Wanting Free Shipping and Cart Abandonment
- 80% of the US population, or 263M people shop online (Source: Fit Small business).
- As of March of 2021, worldwide online cart abandonment across multiple industries was just under 80% in total.
- 86% is the average cart abandonment rate for automotive customers, while retail cart abandonment isn’t much better at 76% (Source, Statista).
- 84% of consumers in a 2019 survey of 2,500, said that delivery is important in the online shopping experience (Source: Retailwire).
- 73% said they are unlikely to do business with a retailer again if the delivery experience is poor (Source: Retailwire).
- 72% of consumers say they shop online because of free shipping (Source: Deloitte).
- 66% of shoppers want free shipping when making an online order (Source: Shopify).
- 63% of shoppers abandon their online shopping carts if shipping costs too much, according to a 2022 report (Source: Drip.com)
- 59% of consumers say free delivery would improve their online shopping experience (Source: ShopifyFuture of Commerce 2021).
- Free delivery is the number one reason why consumers make a purchase, according to a 2020 report (Source: Statista).