Black Friday abandonment rates are a needless oversight – Morten Tonnesen, CEO, Ve Global

Black Friday abandonment rates are a needless oversight – Morten Tonnesen, CEO, Ve Global

While UK internet retail traffic will surge on Black Friday, so will abandonment rates. Low conversion ratios means many retailers will simply fail to make money warns Morten Tonnesen, CEO of Ve Global.

“So much work goes into attracting customers to your site for Black Friday be it adtech, search and social media. But if you neglect on-site abandonment then that is a needless oversight,” says Tonnesen.

Internet traffic never shows up on the balance sheet, he adds.

More shoppers, less spending

Abandonment rates are an increasing historic issue with Black Friday. Despite a surge in online traffic of +70% compared to an average Friday last year, eight out of 10 customers who placed something in their basket abandoned the transaction at the final ‘Buy Now’ hurdle.

This year on the last Friday (17th Nov) before Black Friday, UK abandonment rates stood at 82.5%. “This could be consumers doing research in advance of Black Friday but it emphasizes the scale of the opportunity for retailers to close on this clear interest to buy,” says Tonnesen

Source: Ve Global

November abandonment rates rise

Abandonment rates have been on the climb through November 2017. Ve Global’s proprietary data points to an abandonment rate of 80.88% on Friday 3 November – yet this surged to 84.97% by Saturday 18 November.

Rates were holding at an 83% average across that weekend despite Amazon and many other online retailers kicking off their Black Friday earlier.

Source: Ve Global

In brief – November 2017 abandonment rates

  • Friday 3 Nov – 80.88%
  • Friday 10 Nov – 80.69%
  • Friday 17 Nov – 82.54%

In brief – November 2017 conversion rates

  • Friday 3 Nov – 19.12%
  • Friday 10 Nov – 19.31%
  • Friday 17 Nov…