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BizReport : E-commerce : September 23, 2008
$57 billion lost to site abandonment
Online retailers are losing billions of dollars every year due to site abandonment, finds behavioral analysis firm Tealeaf in their annual Online Customer Experience survey.
A massive 90% of visitors to online retail websites encountered problems during the buying process, found Tealeaf. This led to half abandoning sales altogether and a loss of around $57 billion to retailers.
Quite apart from the initial loss of sales, 84% of consumers who suffer problems during online transactions go on to share that experience with others, both on- and offline.
Specific user issues included confusing navigation, lack of contact points and unclear security status. Confusion and anxiety are key drivers of site abandonment and retailers must ensure consumers maintain control, while receiving support and information, at every stage of the buying process. Confident consumers are more likely to complete at checkout.
“Businesses must take definitive steps to differentiate themselves by understanding and improving their customers’ site experiences, and equipping their contact centers to truly meet the needs of online customers,” said Rebecca Ward, CEO of Tealeaf.
Tags: online retail, security, site usability
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Comments
It would be interesting to know how this compares to brick-and-mortar retailers. Are there any statistics on customers who "abandon" stores without buying, due to such factors as confusing store layout, lack of product, incompetent clerks and long checkout lines?
Posted by: Robert Sax on September 26, 2008 03:32