$24 Billion in Goods Abandoned in Online Shopping Carts on Black Friday

Inplace #2

Even as online retailers like Amazon hit company records for Cyber Monday sales, consumers across the web abandoned $24 billion worth of goods in their shopping carts during Black Friday and Cyber Monday.

Meanwhile, retail advertisers saw their efforts convert at a higher rate on Black Friday this year than in 2016. That’s according to data from the online advertising company IgnitionOne, drawn from thousands of retail websites.

The company’s study of online retail cart abandonment and ad performance also found:
  • Apparel ($3.7 billion abandoned) and home goods & furniture ($4.3b) saw the highest total value of abandoned merchandise.
  • Shoppers abandoned their carts 7% more often on Black Friday than Cyber Monday, as they likely waited until Monday to make a purchase.
  • 40% more visitors put items in a cart on Black Friday compared to a typical day in November. That jumps to 50% on Cyber Monday.
  • Discount apparel retailers, financial firms, hospitality, and services (including energy, moving, and internet services) had higher Black Friday ad conversion rates year over year, with increased spend.
  • Financial institutions (including banking and insurance) were the sole category to see higher ad conversion rates while increasing spend on both days.
  • On Cyber Monday, home goods saw a growth in conversion rate while ramping up ad spend. The same companies saw a drop in Black Friday conversion rates despite a YoY spend increase.