{"id":166840,"date":"2020-07-06T16:04:00","date_gmt":"2020-07-06T16:04:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/klarna-reveals-why-online-shoppers-decide-to-buy-or-bail-on-a-purchase\/"},"modified":"2021-08-06T12:06:26","modified_gmt":"2021-08-06T12:06:26","slug":"klarna-reveals-why-online-shoppers-decide-to-buy-or-bail-on-a-purchase","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/klarna-reveals-why-online-shoppers-decide-to-buy-or-bail-on-a-purchase\/","title":{"rendered":"Klarna reveals why online shoppers decide to \u201cbuy or bail\u201d on a purchase"},"content":{"rendered":"<p>Buy now and pay later service provider Klarna, in association with leading software-as-a-service ecommerce platform BigCommerce, has released new data from a report highlighting <strong>the fragility of shoppers and the biggest influences on people\u2019s decisions to \u201cbuy or bail\u201d<\/strong> on purchasing a product.<\/p>\n<p><!--more--><\/p>\n<p>Based on a survey of 2,000 UK consumers, the survey ran from 20-25 March, 2020, and findings included <strong>four in 10 (38%) of UK shoppers abandon a purchase at least once a week,<\/strong> with a fifth claiming to do so more regularly.<\/p>\n<p>A huge 75% of consumers are<strong> likely to abandon their shopping cart if they did not trust a website\u2019s security,<\/strong> while 39% say good customer service would encourage them to shop again with an online retailer, and 27% said poor customer service would deter them.<\/p>\n<p>Additionally, 37% say the<strong> ease and functionality of using a retailer\u2019s website has the biggest influence<\/strong> over their purchase decisions, while 35% of shoppers say they are more likely to shop with a retailer that is associated with fun content and \u201cenriching experiences.\u201d<\/p>\n<p>Almost a quarter (23%) said they\u2019d also be influenced by the speed of the checkout process, while 22% are encouraged by flexible payment options.<\/p>\n<p>The findings form part of the new report, called \"<a href=\"https:\/\/www.klarna.com\/uk\/business\/navigating-needs-bigcommerce\/\">Navigating Needs: the path to profit in eCommerce\",\u00a0<\/a>which considers the shopper needs retailers must satisfy in their quest to \u201cgain and retain\u201d customers. It includes\u00a0expert commentary from retail influencer Andrew Busby.<\/p>\n<p>Laurel Wolfe, vice president of marketing at Klarna, said: \u201cConsumer behaviour might feel particularly unpredictable right now, but fundamental needs remain the same. Customers won\u2019t feel comfortable if a website feels insecure, whilst <strong>a fast, smooth checkout process is likely to encourage loyalty.<\/strong> From flexible payment options and shopper security, to relevant content and referral traffic, we\u2019re proud to help retailers improve the shopping experience at every stage of the journey, enabling them to create closer connections with customers.\"<\/p>\n<p>Andrew Busby, CEO of Retail Reflections and IBM Futurist, as well as a\u00a0top 20 global retail influencer, commented:\u00a0\u201cEven before Covid-19 struck, retail was undergoing a seismic shift \u2013 and now its transformation is almost inevitable. I<strong>nnovation is key, and retailers are right to consider new ways of reaching customers<\/strong> and bringing the same enriching experiences to them in this strange new world. But, in a matter of months, functionality and safety have shot to unprecedented levels of importance.<\/p>\n<p>\u201c<strong>Physical stores may never look the same again<\/strong> and, from the ability to try before you buy to the need for secure spending and rapid returns, online retailers are under peak pressure to make the shopping experience as safe and seamless as possible.\u201d<\/p>\n<p>The research also revealed<strong> a lack of fast and affordable delivery options as the number one reason behind cart abandonment,<\/strong> with over half of UK consumers (54%) admitting they have abandoned their online shopping cart due to delivery frustrations.<\/p>\n<p>The burden of needing to create an account and frustrations with the functionality of a mobile website came high in the list of reasons why shoppers \u201cbail\u201d, cited by 32% and 33% respectively as reasons to drop out.<\/p>\n<p>Meanwhile, <strong>27% of consumers have abandoned a purchase because they couldn\u2019t remember their log in details for an existing account,<\/strong> whilst more than a quarter of UK shoppers (26%) admitted they have left a purchase halfway through because they \u201ccouldn\u2019t be bothered\u201d to prepare their card details.<\/p>\n<p>A need to be recognised and valued is another key driver influencing purchases, with a third (33%) of consumers noting that personalised offers or discounts would encourage them to shop with an online brand, while <strong>almost a fifth (19%) are swayed by a personalised checkout experience.<\/strong> In fact, 19% even said they would be likely to abandon a purchase if they weren\u2019t treated to a personalised offer.<\/p>\n<p>Jim Herbert, EMEA general manager at BigCommerce, added: \u201cShopping should always be easy and enjoyable. Consumers want ecommerce to be as quick and flexible as possible, and as this research shows, anything less than a seamless experience will result in abandoned baskets. As stress levels rise and purse strings tighten, shoppers will buy more from those merchants that match their needs.<\/p>\n<p>\u201c<strong>Every abandonment represents a dent in the retailers\u2019 revenues<\/strong> and potentially a sale lost to a competitor, making it incredibly important to consider every aspect of the shopping experience \u2013\u00a0from security and website speed to the power of personalisation \u2013\u00a0across all channels where customers engage.\u201d<\/p>\n<p>The full report can be downloaded <a href=\"https:\/\/www.klarna.com\/uk\/business\/navigating-needs-bigcommerce\/\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-144088 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Daily-Newsletter-Banner.png\" alt=\"Newsletter banner\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":139267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[13095,20140,21,14451,20139,12417,16025,13094],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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