Two recent studies show e-retailers can lose sales if they don’t offer an easy checkout process or neglect to offer shoppers special offers on transaction confirmation pages.
A survey of more than 1,000 U.S. adults conducted in July by installment payments software provider Splitit via Google Consumer Surveys found that 87% of online shoppers will abandon their carts during the checkout process if it is too long or too complicated, and 55% of all online shoppers would not only abandon their carts, but also never return to that retailer’s site.
The survey found that older shoppers are the least forgiving of complex checkouts, but millennials don’t like them much either. 90% of respondents aged 55 or older said they would not follow through with a lengthy checkout, compared with 83% of millennials.
Millennials were also a bit more likely than older shoppers to give a retailer a second chance: 12% said they would exit a lengthy checkout but return to the site later, compared with just 7% of those over the age of 55.
Excessive advertisements during the online checkout process also can make consumers less likely to buy, the survey found. 25% of respondents—including 19% of millennials and 28% of older shoppers—cited advertising as a reason for abandoning their carts.
Another study by digital marketing firm Rokt found that retailers lose out on sales and other kinds of customer engagement if they do not offer special, related offers on order confirmation pages.
The Rokt study involved more than 50 e-commerce executives responsible for annual sales of $1 billion or more, surveyed by Internet Retailer. 50% of those executives say their organizations do not effectively use order confirmation pages to drive interaction with customers.
80% of e-commerce executives say they are interested in adding offers to their confirmation pages. But 57% say their organizations do not have initiatives in place to do so.
That’s a missed opportunity, Rokt says. Compared with other times they see marketing messages, consumers are seven-times more likely to engage with offers immediately after completing their transactions, Rokt says.
Why is that? In a Rokt survey of 4,198 U.K., U.S., German and Australian adult consumers conducted in May, 74% said making a purchase is the happiest experience they have online. That, Rokt says, is when consumers are most open to receiving additional offers from brands.
If the confirmation page is a powerful place to drive more sales, why is it not better utilized? Among e-commerce executives Rokt surveyed with , 45% cited limited resources. Other barriers mentioned were limited engineering resources (38%); lack of performance metrics for the confirmation page (21%); low revenue opportunity/ROI (38%); disruption to the customer experience (31%); and no clear “ownership” of the idea within the company (14%). Respondents could select more than one choice.Favorite