Koen van Gelder
Team Lead E-commerce
E-commerce checkout behavior - statistics & facts
Around the world, many consumers buy products and services online. E-commerce accounts for an estimated fifth of retail sales globally, a share expected to expand in the coming years. Whether shoppers choose to buy on major e-commerce platforms or visit retailers’ websites directly, many obstacles can stand in the way of a completed purchase or transaction, for instance, frustrating website layouts, long delivery delays, or a lack of a preferred payment option. Issues related to the checkout process can profoundly influence e-commerce conversion rates.
What drives consumers towards checkout?
There is a plethora of incentives for buying online among internet users across the globe. Some of the most common reasons consumers choose to buy online are being able to shop at any time and the convenience of doing it from home. Other factors include sustainability, secure tracking and packaging, and most notably, free delivery options. On the other hand, some drawbacks can cause individuals to leave their online shopping basket before completing the purchase. The number one reason consumers in the United States abandon their carts during the checkout process is that extra costs – such as delivery, fees, and taxes – are higher than anticipated. Many shoppers would also pull out once they realized they needed to create an account to proceed with the order or when the estimated delivery time was too long.Abandonment vs. conversion
In the age of online shopping, retaining consumers' attention and interest is one of the main challenges e-retailers face. And while many visitors are just browsing with no particular intention to buy anything, a large share of conversion loss is attributable to online shopping cart abandonment. Globally, about eight in ten digital shopping carts are abandoned before the transaction can come to a close. The abandonment rate is also typically steeper for industries like travel and luxury compared to others such as groceries. Likewise, online conversion rates are generally higher in segments related to fast-moving consumer goods, as opposed to big-ticket purchases involving large items like furniture.
