October 08, 2018
Share this Article:
Creating an up-to-date and reliable checkout experience has never been more important for consumers — or effective for retailers. The ease and convenience of shopping online has continued to rise dramatically, and online retailers have noticed the high shopping basket abandonment rates caused by minimal payment methods and complicated systems.
In a recent study, payment professionals, PPRO Group, found that 67% of UK consumers have discarded an online retail transaction due to the payment process, down just 1% during the past four years from 68% in 2014. Although the number isn’t rising, the technology and options available at checkout isn’t offering consumers the choices they desire, resulting in a loss of sales.
There have been slight improvements to the checkout however, as 21% now discard the process for being too complicated – much lower than the 57% who did in 2014. Despite this, almost a quarter are still failing to follow through their purchases, usually because the retailer doesn’t offer the option to pay the way they want to.
Payment options are the biggest blunder causing consumers to look elsewhere. Nine out of 10 shoppers now expect a much wider variety of payment methods to be made available to them, including PayPal which is stated as the number one preferred payment option. Because of this, brands aren’t selling as much as they could, and the public aren’t buying products they desire – a lose-lose situation for both sides.
Over a third of would-be buyers are also being put off completing a purchase due to being forced to create an account. With accounts signalling that you may receive unwanted follow-ups, many believe that it’s not worth the hassle.
While basket abandonment may be par for the course with online shopping, there are things an e-commerce site can do to reduce the root causes of this action.
Ease of view within the shopping basket is key to keeping visitors present and interested. Creating a ‘view cart’ link in your main navigation will allow visitors to easily begin the checkout process, irrespective of where they are on the site.
Alongside the obvious solution of adding a wider variety of payment methods, including PayPal, highlighting the security features the site has at the checkout gains higher trust from the consumer in the brand. This includes disclosing return/refund policy information which can build confidence in the efficient running of the company.
Shipping costs are another big reason for shopping basket abandonment. A quarter of customers specifically cited shipping costs as the primary reason that’s driving them away. Regular ‘flash’ free delivery options keep people purchasing regularly and listing delivery options and prices before reaching the checkout option prevents them from changing their minds and abandoning their bag later on into the checkout process.
It’s also crucial that your site is a trustworthy place to shop. Increase your trust flow and you’ll likely see an increase in finalised transactions as potential customers won’t be wary of being ‘scammed’.
With the introduction of these slight improvements, consumers will be less likely to leave their basket before purchasing the products and more likely to stick with the item(s) they wish to buy right through the checkout process.
Contact our team of experts at Mediaworks today by filling out the form below and let us enhance your business’s website design, trust flow and shopping experience.
From powerful brand propositions, customer-centric experiences or creative search campaigns, our proven approach overcomes obstacles and delivers commercial success.
We work fast and break norms by applying innovation, intelligence and creativity to everything we do. We look for people who share our passion and ambition.
Interested in finding out more about how we deliver outstanding results? Speak to our experts today.