I have developed a funnel to track check out process and I view it as 4 distinct steps. STEP 1 (View Cart) STEP 2 (Enter Personal Info) STEP 3 (Enter Billing Info) STEP 4 (Confirmation Page)
I track each users.. I start with 100% of people that view the cart (Step 1) 64% of those people fill our Personal Info (STEP 2) 82% of those people enter CC info (Step 3) and 89% of those people execute their order (Step 4)
So essentially, 50% of people that view the cart end up checking out. I'm curious how these figures look to other people.. I'd like to bench mark.
I start with 100% of people that view the cart (Step 1) 64% of those people fill our Personal Info (STEP 2)
However, our stats start when someone places a product in the cart. I know I'll often view a cart before I put a product in it. Glancing at a cart is more part of the FAQ phase for me.
Think of a grocery store. What triggers their "abandonment" stats? -A customer who enters the store and leaves without a purchase? -A customer who takes a cart but doesn't buy? -Or a customer who takes a cart, puts one item in and then leaves without buying?
Hard to compare shopping cart abandonment stats because of differences in definitions.
As for us, we see very little drop off at the end of the process.
2) 82% of those people enter CC info (Step 3) and 89% of those people execute their order (Step 4)
2-3% of our shoppers bail after they enter CC/Shipping info (the hard part) and before hitting the final confirm button. Your failure rate there seems high. Maybe something about what you sell or what info you require.
This interesting but probably not very useful discussion comes up often. I don't think many sites have abandonment software and the ones that do probably aren't very comparable to each other in terms of products, checkout process or abandonment measurement methodology.