The article highlights the critical issue of cart abandonment in eCommerce, particularly attributed to delays and unexpected fees during checkout. It cites that 48% of carts are abandoned due to hidden shipping costs and taxes. The integration of robust backend systems is emphasized as essential for real-time tax calculations, especially during peak periods. Furthermore, the post-holiday landscape poses challenges with rising return rates, necessitating systems capable of managing these complexities to enhance customer satisfaction and compliance while optimizing sales opportunities.
Even minor delays during checkout can lead to a dramatic increase in cart abandonment rates. Additionally, studies have shown that 48% of shopping carts are abandoned due to excess shipping fees and taxes added during the final stages of checkout, underscoring the need for transparent, optimized checkout processes.
For instance, during Black Friday and Cyber Monday 2024, users of Sovos' Tax Determination software successfully processed nearly 300 million real-time tax calculations, demonstrating the effectiveness of advanced technological systems in managing large volumes.
According to Salesforce, the 2024 holiday return rate escalated by 28% from the previous year, leading to a staggering $128 billion in returned merchandise.
The most crucial question isn't just 'How did we do?' but rather 'How will we prepare for future challenges? Improved integration and systems are essential for investment and compliance.'
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