Fast Finds E-commerce Checkout Failing Buyers With 86% Of Americans Saying They Abandon Shopping Carts
Consumers leave shopping carts because the checkout process is too time consuming and complicated, among other pain points
Fast, the world’s fastest online login and headless checkout experience, today announced the results of a recent survey that found consumers want a better online shopping process and are abandoning their shopping carts at record levels. According to the survey, 86% of U.S. shoppers say they have added an item to their online shopping cart, only to abandon it before checking out.
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What obstacles are driving 86% of consumers to abandon their online shopping carts?
E-commerce revenue is expected to reach up to $930 billion in 2021, and analysts predict 2022 will be the first trillion-dollar year for online shopping. Yet, the new Fast data found consumers report multiple obstacles that lead to abandoned shopping carts, including:
- 18% have abandoned a shopping cart because the checkout process took too long or was too complicated
- 18% didn’t want to create another online account
- 15% couldn’t remember their login information
- 14% say their credit card information wasn’t easily accessible
The lengthy checkout process that shoppers often face on e-commerce sites is part of what draws shoppers to Amazon repeatedly. In fact, when Amazon’s famous expedited shipping isn’t available, more than three quarters (77%) of Americans say they are more inclined to buy something on Amazon because of the easy checkout process.
Most shoppers (55%) say 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. Fast is addressing this opportunity with headless checkout, allowing buyers to complete one-click purchases wherever they are on the internet – such as directly from a product review or recipe to eliminate extra clicks that redirect them to a separate checkout page.
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Additional findings from Fast’s survey include:
- 72% of consumers 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
“Even in an e-commerce boom, many retailers are still struggling to deliver amazing checkout experiences. Sellers devote a lot of resources to reach shoppers on social media or through digital advertising, only to lose them because of cumbersome checkout options,” said Fast Vice President of Partnerships Calanthia Mei. “Buyers are clearly demanding better checkout experiences. Smart sellers are not just embracing one-click checkout, they’re making it lightning fast everywhere their customers are with headless checkout.”
