Shopping Cart refers to software that keeps track of the items that consumers add to their cart from an online store. It allows them to review their selections, make changes, add or delete items, and complete the purchase. There are two types:
- “Hosted” shopping carts are ready-made solutions maintained by the company that created them (e.g., Shopify). They are templates that can be plugged into an eCommerce store.
- “Self-hosted” carts are 100% customizable. Sellers download the software and run it themselves.
Shopping Cart Abandonment takes place when customers place items in their cart but do not complete the purchase for various reasons (e.g., unexpected extra costs, unwillingness to create an account, checkout takes too long). Reducing abandonment rate involves identifying the friction points and addressing them.