New research suggests that UK retailers are missing out on significant sales thanks to poor usability of mobile shopping.
More and more online shoppers are going mobile, with IMRG figures showing that 40% of online purchases in the UK are made on a mobile device.
However, shopping cart abandonment has become a serious issue. Shoppers fill baskets with goods and then don’t complete the transactions, leaving retailers with lost sales. Using data from a poll conducted by Harris, credentials management company Jumio has put a figure on what mobile commerce abandonment cost UK’s electronics retailers last year: £114 million.
It’s not simply customer uncertainty about purchases that causes this phenomenon. Jumio’s research claims that the top reasons for customers giving up on purchases are actually down to usability: slow loading times (32%), payment process being too complicated (27%) and difficulty with navigating the checkout process (26%) were the three biggest issues.
Jumio Inc.’s latest Mobile Consumer Insights study takes a look at user behaviour and transactions on mobile. Conducted online by Harris Interactive, the study identified the driving forces of purchase and account opening abandonment as well as security concerns around transacting on mobile devices. These factors continue to be a major issue among mobile device users, despite consumers’ increased reliance on mobile and the growing awareness of hindrances to mobile sign-ups and checkout.
The 2015 Jumio Mobile Consumer Insights Study found that more than one-half of UK smartphone owners (55%) have abandoned a mobile transaction. Customer concerns about usability made up the top three reasons for abandonment, with customer uncertainty about the purchase only accounted for 21% of all abandonments
Jumio chief marketing officer Marc Barach commented: “As mobile transactions continue to skyrocket, so do abandoned purchases, incomplete account openings, and lost revenue. Businesses have heeded the warning and are finally prioritising mobile checkout experiences, underscored by the ten percent improvement in abandonment rates over the last two years. But, experiences are still far from being as seamless as they need to be in order for retailers to stem the tide of lost opportunity and put a potential £6 billion back in their pockets.”