Digital Transactions
espite consumers’ expectation that checkout during an e-commerce purchase should be fast and instinctive, most online merchants still have checkout procedures that add unnecessary friction, says a survey from online-payments powerhouse Stripe Inc.
The report, released Tuesday, reveals that 96% of 200 North American e-commerce merchants surveyed had committed at least five basic errors in their checkout process. Some 56% of customers took more than three minutes to complete a purchase, Stripe says. When errors occur that complicate and extend checkout, consumers are more likely to abandon a purchase if it takes more than a minute. During the past year, 17% of consumers that abandoned their shopping cart cited a lengthy and complicated checkout process as the reason, says Stripe.
“The user experience for online shoppers has not included the essential optimizations that create a high-performing (and high-converting) checkout experience,” Josh Ackerman, senior product manager for Stripe, says by email. “There are dozens of optimizations that can make it seamless for consumers to complete the checkout process.”
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