Recent statistics indicate that the average rate of cart-abandonment hovers around 70%. Credit: Seika Chujo via Shutterstock.

Online retailers are grappling with a concerning trend as the rate of abandoned shopping carts at checkout climbs steadily.

According to recent data, an average of 70% of online shopping carts are abandoned before completion, equating to a staggering £32bn ($40.14m) in lost sales globally. 

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nShift launches checkout ROI calculator to address cart-abandonment

In response to this challenge, nShift, a renowned provider of delivery management software, has unveiled a new tool aimed at helping retailers gauge the potential impact of improving their checkout processes.

The Checkout ROI (return on investment) Calculator is designed to assist retailers in forecasting the financial benefits of offering enhanced delivery options to customers.

Enhanced checkout experience could boost conversions by 20%

nShift suggests that by providing a variety of delivery options and clearly indicating them during the checkout process, e-commerce businesses could witness a significant uptick in completed transactions.

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The company claims that implementing such improvements could potentially lead to a 20% increase in conversions, resulting in higher revenues for online retailers.

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The Checkout ROI Calculator developed by nShift enables retailers to estimate the financial gains achievable through enhancements to the checkout experience.

By inputting basic parameters, the tool provides insights into yearly return on investment, net incremental annual revenue, increase in average cart value, and additional annual revenue from enabling new value-added services.