87% of online shoppers will abandon their carts during the checkout process if it is too long or too complicated, according to a recent survey from Splitit. Retailers should be even more alarmed to hear that 55% of consumers would not only abandon their carts, but also never return to that retailer’s site.
The report reveals that investment in an efficient checkout process will help retailers to ensure that customers remain loyal and revenue continues to grow.
- Online shopping is forecast to grow to $4.88 trillion by 2021 worldwide.
- Cart abandonment rates hover at 70% overall.
- Excessive advertisements in the checkout process also make consumers less inclined to complete an online purchase, with 25% of respondents citing it as the reason for bailing out of their purchase.
While consumers appreciate having options, it is essential that the checkout process is seamless, at the risk of permanently losing customers. Online merchants must be sure to include clear and easy ways to enter customer details, choose delivery options and make payments while ensuring that the process does not become cumbersome for the shopper.