Retailers are set to lose over 24m customers this Christmas, as a result of poor websites and online sales processes,new research by e-commerce solution provider, Formisimo has shown.
According to statistics, 7m site visits will fail to result in a sale in the build-up to the festive season, due to the website or checkout being too complicated – with 6m shoppers stumbling at the checkout process, due to the stress of high traffic on websites. Millions of online shoppers are expected to fill their baskets during the holiday season – with 125m visits expected to e-commerce stores across the internet.
While the festive rush equals big money for the vast majority of retailers, a significant amount of business is at risk of slipping through the net, costing companies billions of pounds said Formisimo. The data – drawn from millions of samples tracked by the form analytics provider over six months – shows that only 27% of visitors who reach the checkout stage will complete a purchase, with a mere 7% of customers who abandon a basket likely to give the online store a second chance.
Tom New, ‘formologist’ at Formisimo, said: “The checkout process on retail sites is the final stage prior to payment. Issues, errors and confusion at this crucial point restrict transactions and can often cause shoppers to go elsewhere.
“Customers who shift to another store due to technical issues, user interface issues or pricing, are estimated to make up 82 per cent of the abandoners.
“Retailers shell out big bucks in the run-up to Christmas on costly marketing campaigns. That’s pretty much wasted if checkout processes are too complicated, or systems break at the drop of a hat. Often simple changes to forms or processes can result in a significant increase in sales without any increase in advertising costs. More importantly, customers will have a better experience of a business and a brand all year round.”
Formisimo allows companies to analyse and improve their web forms – the primary part of the online checkout process.
The tool is currently in beta, free to use and has tracked over 7m online form interactions. Installed in just 60-seconds, it allows users to react in real-time to customers exhibiting behaviour that suggests they’re struggling with forms. This interaction allows site owners the opportunity to save more customers from leaving their sites.