- Checkout abandonment rate falls to record-low of 26% in Q1 2015
- In 2013 checkout abandonment was 35%, but fell to 30% in 2014
- 58% of traffic to online retail sites now comes via a smartphone or tablet device
London - Checkout abandonment rates for UK online retail sites fell to a record low of 26% in Q1 2015, according to the latest results from the IMRG Capgemini Quarterly Benchmarking.
Abandonment rates on online retail checkout pages have long been considered to be stubbornly high, but we have recently seen a consistent improvement in this area. In 2013, the average checkout abandonment rate was 35%, but this fell to 30% in 2014.
The Quarterly Benchmarking results also reveal that sales through mobile devices (smartphones and tablets) accounted for 42% of total UK online retail sales in Q1, up from 40% in the previous quarter. This is up from 34% in Q1 last year.
58% of traffic to online retail sites now comes via a smartphone or tablet device, up from 53% in the previous quarter and 48% in Q1 last year.
Tina Spooner, chief information officer at IMRG: “Reducing abandonment at the checkout is a clear focus for online retailers and, despite the fact it has come down significantly, just over a quarter of online shoppers still do not complete their purchase after reaching the checkout page. There are any number of reasons why shoppers might abandon at that point – particularly in relation to trust, convenience or delivery options – and the investment made in improving these areas appears to be paying off.
“The pace of change for the online retail industry is extremely rapid. Three years ago mobile devices accounted for 1 in 5 visits to retail sites and today almost 60% of consumers browse the web on smartphone and tablet devices. It is clear that investing in optimising sites for mobile users needs to be a key focus for many retailers.”
Alex Smith-Bingham, Head of Digital, Consumer Products and Retail, Capgemini “The growth of mobile sales is no doubt a key factor in the drop in the abandonment rate at the point of checkout. Retailers have invested a huge amount in optimising their sites for mobile and developing applications that will make it easier than ever for customers to make purchases on the go, at the click of a button.
“However there is still room for improvement in terms of the technology on offer. For example, mobile payments could be a lot smoother and the identification of potential purchase items through mobiles easier. As the mobile shopping experience becomes ever more intuitive and immediate, I expect abandonment rates to continue to fall.”