High delivery costs are the no.1 reason for abandoning online purchases
Research from B2C Europe indicates high online shopping basket abandonment rates across Europe – and a third of people never return to complete the purchase
London, UK, 1st December 2015 – B2C Europe, the specialists in cross-border ecommerce distribution, has published research revealing the high abandonment rate of online shopping baskets, along with some of the reasons why.
The research, conducted by Bluebeez, was commissioned to understand consumers’ shopping habits online across eight major European markets, and in particular why someone would abandon their online shopping basket.
The research found that a remarkable 79% of consumers abandoned an online purchase at least once within the last six months, with 39% of consumers abandoning a shopping basket at least once a month. Although some online retailers have strategies in place to win back customers, the research reveals that only 3% of consumers would always return to complete the purchase.
The reasons given were as follows:
• 40% of respondents stated that the cost of delivery was too high.
• 33% of respondents stated they simply wanted to compare prices and get a feel of the total price.
• 20% of respondents stated that their preferred payment method wasn’t available
• Other logistical reasons such as long delivery times (15%) and lack of information about returns (11%) were also major reasons as to why consumers abandon their shopping basket.
Using these findings, B2C Europe has created a downloadable mini-guide to reducing lost sales at checkout entitled The Ultimate Guide To Your Abandoned Sales which provides online retailers with tips on how to convert browsers into buyers and reduce abandonment rates. The guide is available from a micro-site which also features a calculator tool which allows online retailers to find out how much they could be losing in additional sales a month.
Rianne Klein Geltink, Sales and Marketing Director of B2C Europe said: “Most e-tailers will have customers who abandon purchases, but many do not pay enough attention to the reasons why. We not only want to show businesses the number of sales they may be losing, but also to help organisations to develop and change strategies to better accommodate the needs of the consumer. It’s not enough to focus purely on the number of sales when analysing the success of the business; you need to take into account the true cost of lost sales. When you have large volumes of purchases going through your website the abandonment rates may seem insignificant, but it’s important to remember that you could be able to achieve an additional 30% in sales and revenue for the business.
“Recently, we have seen millions of pounds worth of sales online due to Black Friday and Cyber Monday. Inevitably, this means that online retailers have seen an increase in website traffic with customers filling their shopping baskets with bigger quantities of products. Consequently, the number of abandoned sales at checkout is even greater. Therefore, online retailers must deal with this issue in order to prepare for the next flurry of sales activity – Christmas.”
The survey was completed by 2,442 people across the UK, France, Spain, Italy, Belgium, Switzerland, The Netherlands and Germany.
To download the mini-guide click here.