Predicting online shopping cart abandonment with machine learning approaches

Theresa Maria Rausch, Nicholas Daniel Derra, and Lukas Wolf

Excessive online shopping cart abandonment rates constitute a major challenge for e-commerce companies and can inhibit their success within their competitive environment.

Introduction

To strengthen a company's position within its competitive environment, marketers need to be able to precisely predict potential customers regarding their purchase and, further, non-purchase behavior. Considering this in the context of online shopping environment, customers frequently place items in their virtual shopping cart for reasons other than immediate purchase. This phenomenon is known as shopping cart abandonment and is particularly apparent in the context of e-commerce; it is the behavioral outcome of consumers placing item(s) in their online shopping cart without making a purchase by completing the checkout process during that online session (Huang et al., 2018; Kukar-Kinney...

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