How Much Can Slow Magento Checkout Support Cost Your Business?
Baymard Institute estimates the average cart abandonment rate in 2024 to be 70.19% and states that many respondents name checkout issues as their key reason for not completing a purchase. Specifically, 22% blame overly complicated checkout processes,17% report website errors during checkout, and 9% mention card payment failure. What do these stats mean for your Magento-powered business?