According to the findings based on the observations of customers across the UK, Germany, and the Netherlands, 43% of all shoppers would not return to a retailer if the online checkout process was a poor one.
During the survey, the participants were asked about their reasons for abandoning their online shopping basket, and nearly half of UK shoppers (44%) invoked a cumbersome checkout process. The percentage for the other countries is significantly lower – Germany with 29% and the Netherlands with 36%.
The results of the research highlight the importance of a fast and convenient process of online shopping for UK customers, but also the areas in which shoppers are prepared to change or compromise their preferences to get the experience they desire.
The survey underlines that 25% of UK shoppers aim to deliver their payment details to any online retailer store if it makes the checkout experience easier. In Germany (15%) and the Netherlands (16%), customers are not prepared to let any retailer store their payment information.
While most European customers (71%) consider that fraud protection is non-negotiable, a third (32%) of UK shoppers want the checkout process to be a faster one, even if they will have some online fraud protections removed. A quarter of them declared that they would even agree with removing the fraud protection checks completely to get a faster checkout process. On the other hand, the German (12%) and the Dutch (17%) customers are not prepared to compromise on the security process.
In 2023, the UK experienced over GBP 1.17 billion in fraud losses, and a significant portion came from ecommerce. Over GBP 360.5 million were stolen by criminals through remote purchases, which acquire card details through data theft methods such as breaches, scam text messages, and phishing emails.
The situation is a challenge for both merchants and ecommerce platforms in the UK that must balance the demands of shoppers for a fast and accessible checkout experience while ensuring that the payment details are safely secured and implementing robust checks before authorising payments.
Officials from payabl. note that UK customers demand fast and effective payments for not abandoning purchases. This behaviour is changing the perception of shoppers when it comes to security measures and storing their payment details online. It is important to work with reliable payment providers to prevent fraud without adding unnecessary friction.
The information presented above is part of payabl’s upcoming whitepaper, whose focus is on European checkouts and customer expectations, including payment preferences and security aspects.
The independent research company Coleman Parkes conducted an online survey on behalf of payabl. The survey involved 1400 customers from the UK, Germany, and the Netherlands who have made an online purchase and an in-store purchase in the past month.
The upcoming whitepaper will look in detail at the online checkout process in Europe, including aspects like online shopping habits, payment preferences, and the role of security in payments.
For more information about payabl., please check out their detailed profile in our dedicated, industry-specific Company Database.
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