A new survey indicates that offering an expedited online checkout process is critical to e-commerce success.
According to a recent survey of about 1,000 U.S. adults from login/checkout technology provider Fast, 86% of respondents say they have added an item to their online shopping cart, only to abandon it before checking out. Specific obstacles these respondents cited to staying with their cart through purchase include:
• Checkout process took too long or was too complicated (18%).
• Didn’t want to create another online account (18%).
• Couldn't remember their login information (15%).
• Credit card information wasn't easily accessible (14%).
In addition, 55% of respondents said they would be more likely to make an online purchase if there was a quicker, easier way to buy directly from the channel where they learned about that product, like a social media post, digital ad or online review. And when Amazon's expedited shipping isn't available, more than three-quarters (77%) of respondents said they are more inclined to buy something on Amazon because of the easy checkout process.
Additional findings the survey include:
• More than seven in 10 (72%) respondents say they have been influenced to purchase products based on media, advertising and social media consumption.
• Millennials (ages 25-40) are 71% more likely to purchase a product if there is an easier way to buy directly from these channels (the highest of all age groups).
• Gen Z (ages 18-24) is three times more likely than the baby boomer generation (ages 57-75) to be loyal to a company when they purchase online versus in-person.