The fragility of a consumer’s purchasing journey is revealed post-Covid-19, with nearly four in ten UK shoppers abandoning a purchase at least once a week.
That’s according to new research commissioned by payment provider Klarna and e-commerce platform BigCommerce, who called on retailers to prioritize shoppers’ needs for the sake of their bottom line.
The main reason customers abandon the items in their digital shopping cart is the lack of fast and affordable delivery options, highlighted by 54 percent of respondents admitting that delivery frustrations have led to them not going through with their purchases. More specifically, 32 percent and 33 percent named the burden of creating an account and frustrations with the functionality of a mobile website as reasons to rethink a purchase.
Out of the 2,000 UK consumers who took part in the survey, 38 percent discarded their shopping cart at least once a week, with 75 percent remarking that they would be more likely to do so if they did not trust in a website’s security.
Meanwhile, determining factors in increasing the likelihood of a shopper choosing a retailer again in the future include good customer service, simple functionality of a retailer’s website and fun content and experiences, with 39 percent, 37 percent and 35 percent stating these reasons, respectively.
The survey’s findings are part of a report done by Klarna and BigCommerce in collaboration with retail expert Andrew Busby. Inspired by Maslow’s hierarchy of needs theory, the report informs retailers on what must be done in order to gain and retain customers. While functionality and safety of websites are the factors that consumers value most, engagement in the form of customer service and the esteem gained from personalization are additionally important. The top of the pyramid is made up of enriching experiences, such as entertainment and inspiration, which can be beneficial in capturing the attention of shoppers.
Shoppers want ecommerce to be 'as quick and flexible as possible'
“Consumer behaviour might feel particularly unpredictable right now, but fundamental needs remain the same. Just like Maslow’s theory, this means starting with the basics and working up,” said Laurel Wolfe, VP of Marketing at Klarna, in a statement. “Customers won’t feel comfortable if a website feels insecure, whilst a fast, smooth checkout process is likely to encourage loyalty.”
Jim Herbert, EMEA general manager at BigCommerce, added: “Consumers want ecommerce to be as quick and flexible as possible, and as this research shows, anything less than a seamless experience will result in abandoned baskets. As stress levels rise and purse strings tighten, shoppers will buy more from those merchants that match their needs. Every abandonment represents a dent in the retailers’ revenues and potentially a sale lost to a competitor, making it incredibly important to consider every aspect of the shopping experience – from security and website speed to the power of personalization – across all channels where customers engage.”
Photo credit: Fashion Cloud, Klarna