Flawed customer experiences cost UK retailers GBP 102 bln, Adyen study shows

The research paired with 451 Research’s Global Unified Commerce Forecast found that running out of stock in-store is the biggest contributor to lost revenue, costing retailers GBP 14.8 billion each year. Moreover, 79% of UK consumers would not return to make a purchase if they went into a store only to find their desired item was out-of-stock.

Queues in-store are the second biggest source of lost revenues, costing retailers up to GBP 11.3 billion each year. 66% have abandoned their purchase and left a store because of long queues in the past six months. Only 22% said they would return to the store later or make a purchase on another channel.

When it comes to improving the customer experience, consumers believe that retailers should:

• accept contactless payments (68%);

• enable people to skip queues by paying for items in-store via mobile app (55%);

• accept digital wallets such as Apple Pay or Google Pay (54%);

• enable customers to check a store’s stock levels online (51%);

• buy now and pay later options (50%);

• save payments details on file to speed up the checkout process (48%).

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