Online checkout abandonment rates fell to a record low of 26% in the first quarter this year, a steady improvement from checkout abandonment rates of 30% last year, and 35% in 2013, according to IMRG Capgemini‘s Quarterly Benchmarking report.
The results give insight into the way consumers shop online finding that 58% of traffic to online retail sites now comes via a smartphone or tablet device. Sales through mobile devices accounted for 42% of total UK online retail sales in Q1, up 8% from the same period in 2014. Whilst there is clear progression in abandonment rates, retailers could reduce this further.
Tina Spooner, Chief Information Officer at IMRG comments: “Reducing abandonment at the checkout is a clear focus for online retailers and, despite the fact it has come down significantly, just over a quarter of online shoppers still do not complete their purchase after reaching the checkout page. There are any number of reasons why shoppers might abandon at that point – particularly in relation to trust, convenience or delivery options – and the investment made in improving these areas appears to be paying off”.
Alex Smith-Bingham, Head of Digital, Consumer Products and Retail, Capgemini added: “The growth of mobile sales is no doubt a key factor in the drop in the abandonment rate at the point of checkout. Retailers have invested a huge amount in optimising their sites for mobile and developing applications that will make it easier than ever for customers to make purchases on the go, at the click of a button”.
“However there is still room for improvement in terms of the technology on offer. For example, mobile payments could be a lot smoother and the identification of potential purchase items through mobiles easier. As the mobile shopping experience becomes ever more intuitive and immediate, I expect abandonment rates to continue to fall.” Smith-Bingham added.