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Every year, the average American backs out of 96 online purchases halfway through – saving a ton of money in the process, according to new research.
A new study into online shopping habits found the average American saves over $2,500 a year just by xing-out of the window in the middle of a purchase.
And it doesn’t take much at all to push us away from an online purchase.
The survey of 2,000 Americans, conducted by OnePoll on behalf of Forter, found over half of Americans (51 percent) would, frustratingly, back out of a purchase if the checkout process pushed them to a new tab or window.
Americans also hate having to go through extra verification measures. Over half of the survey respondents said they are less likely to go through with a purchase if they are prompted to receive an SMS code on their phone to prove it’s them.
It isn’t just buying something for themselves, either. Fifty-one percent have backed out of buying somebody a gift because the check-out process frustrated them.
The survey also laid out the top annoyances when it comes to online shopping frustrations and found the thing most likely to have us clicking that X button out of our shopping cart is having to re-enter our credit card information (50 percent).
“Today’s shoppers are becoming more and more accustomed to Amazon’s 1-Click checkout and expedited shipping," said Michael Reitblat, co-founder and CEO of Forter. "They deliver the gold standard in customer service and experience, and many brands are struggling to keep up. Merchants need to balance the risk of fraud with the expectation of speed and convenience.“
The frustration can stem from Americans expecting online shopping to be more convenient than shopping in stores, as three in four said shopping online was how they preferred to do it.
Buyers tend to bail out of their purchases if they have to complete more than just three steps to get their purchase transacted.
It’s especially true if the purchase is a bit on the expensive side. Four in five Americans (81 percent) said their frustration with the check-out process will mount much more quickly if the item costs a lot.
And sometimes they will simply add items to their cart and save them for later.
The average American was found to have $116.07 worth of items spread across many online shopping carts, with 27 percent saying that number is actually higher.
“Instant gratification is the new expected customer norm. Brands with online platforms that delay that need will see higher rates of cart abandonment and customer drop off," Reitblat said. "Merchants need technology that empowers them to identify and stop fraudsters while ensuring legitimate customers receive the shopping experience they expect. In today’s competitive e-commerce landscape, managing risk while delivering the most frictionless customer experience is imperative.“
TOP 5 ONLINE SHOPPING FRUSTRATIONS
1. Have to re-enter credit card info 50%
2. Have to re-enter shipping info 44%
3. Have to login for a second time 42%
4. Have to take a picture of ID 41%
5. Shipping cost is too much 37%