Ditching The Cart: Why Consumers Abandon Purchases

 

Commentary

Ditching The Cart: Why Consumers Abandon Purchases by Ray Schultz , Columnist, Yesterday

If you are prone to outbursts of profanity when trying to buy online, you are not alone. People are so frustrated by the process of logging in that a 87% have abandoned a purchase because they are fed up, according to a new study by Frontegg titled: Forgot Your Password? So did Everyone Else—And they Ditched Your Site Because Of It. 

The average value of these transactions is $85. Worse, 13% of shopper have left behind orders worth $150.  

Frequent shoppers — those who buy online multiple times per week—are even more likely to jump: 92% have done so. 

The most common log-in frustrations are:

• Forgetting/resetting passwords — 68% 
• Getting locked out of accounts — 47% 
• Passwords having to meet specific requirements — 41%
• Multi-step authentication — 38%
• Long/complex password requirements — 36% 
• CAPTCHA/security challenges — 35%

Many consumers prefer guest checkout for these reasons:

• Faster/easier to check out as a guest — 77% 
• Don’t want to receive marketing emails/promotions — 71% 
• Don’t plan to shop there regularly — 57% 
• Already have too many online accounts — 50%
• Don’t trust websites with their personal information — 28%
• Had trouble logging into accounts in the past — 14%

The most frustrating online accounts are: 

• Banking and financial services — 43% 
• Government websites — 38%
• Online shopping websites — 30% 
• Work-related accounts — 28%
• Email providers — 26% 
• Streaming services — 23%
• Social media platforms — 22% 

Here are a couple of other negative findings: 

• Roughly 65% will bail when forced to create an account.
• 55% will stop using a site after forgetting their password.  

Frontegg surveyed 1,003 consumers.