To find the answer to this question and look at what is driving the changes in consumers’ purchasing habits, Loqate surveyed 4,500 people in the US, UK and across Europe to identify the trends that matter. Loqate also asked the opinions of 150 eCommerce decision-makers to get an insight into where the industry is heading from the perspective of those calling the shots.
The report asked how often people shop online, how much they spend, and what factors affect their shopping experiences. The findings painted a thorough picture of how consumers interact with digital checkouts and unearthed a few home truths regarding the efficacy of the purchase journey.
One major finding from the report was that many consumers appreciate the concept of “appropriate friction”, which is to say that they aren’t always looking for the speediest possible purchase journey. Almost half of the respondents (49%) said they liked a slower journey as it gave them time to learn more about a product and weigh up its pros and cons.
Furthermore, the report showed that a bad checkout experience has effects lasting beyond a missed conversion. 44% of respondents said that they would not return to a retailer which had a poor checkout experience, meaning that having a poor checkout could cost retailers for good.
Key findings from the report
- The average consumer abandons a shopping cart at least six times a week because of a poor checkout, resulting in hundreds of pounds worth of missed revenue.
- 35% and 44% of consumers say that address and email validation are the best ways to improve an online checkout.
- Decision-makers named delivery error as the largest barrier to success.
- 56% of consumers want a slower purchase journey when shopping online.
- Smart home ordering, on-demand delivery and one-click ordering are the top three features that consumers want to see at the checkout in the future.
Learn more about these findings and get even greater insight into the current state of digital checkouts by reading our report now!