June 17, 2022
According to a report by market security leader CHEQ, e-commerce companies are losing $5.7 billion in potential sales to bots and fake users who forgo shopping carts.
69% of all shopping carts are abandoned by shoppers at the checkout, and CHEQ’s data shows that a significant proportion of them come from malicious scrapers and illegitimate human users.
Overall, 32% of direct and organic traffic to these retailers sites was identified as Invalid Traffic (IVT), which means that there was no intention to make a purchase or interact with a website in a meaningful way.
The data is part of a larger CHEQ report that discusses the impact and extent of the Fake Web on e-commerce sites. It found that in addition to the billions lost through the abandonment of bot cart, additional revenue was lost through invalid ad clicks and organic traffic from bots and fake users.
“Retailers frequently lose potential business to cart abandonment. However, many retailers do not have the ability to look deeper at those numbers and determine which cart abandonment are coming from legitimate users and which are from bots. This can cause massive disruption when it comes to customer experience, sales projections and data accuracy,” said Guy Tytuniovich, CEO of CHEQ.
The sources for this piece include an article in PRNEWSWIRE.
