Besides, 21% of shoppers cancel a purchase if it takes too long
According to Ecommerce News, 94% of the most popular e-commerce websites in Europe have 5 or more errors on their checkout pages, compared to 58% in 2020. Meanwhile, 21% of European consumers abandon a purchase if the checkout takes longer than one minute.
Consultancy firm Edgar, Dunn & Company analyzed the 800 biggest e-commerce websites in the UK, Germany, France, Spain, Sweden, Italy, Poland and the Netherlands.
Indeed, 15% of consumers in Europe leave their online shopping cart when their desired payment method isn’t available. So, this means there’s still lots to do for e-commerce businesses in Europe, even for the major ones.
The study shows that common issues include poor card information formatting and error handling, not offering popular payment methods, and not allowing customers to save their payment method for future use.
Meanwhile, 1 in 5 online shoppers in Europe say they would abandon a purchase if it takes more than one minute to check out. But 44% say that, on average, it takes them more than 3 minutes to complete a purchase. And 17% say a long and complicated checkout was a reason to cancel an order in the past year.
Here are the top 4 checkout form errors, as found by Stripe:
- making mistakes when formatting payment information or displaying error messages (42% companies analyzed made at least 3 of these mistakes)
- not supporting address auto-complete (61%) or not supporting address auto-complete nor native auto-fill (9%)
- not defaulting to let customers use their billing address as their shipping address (10%)
- not allowing customers to save their payment information for future use (75%)
We’ve reported that instant payment transaction values to grow by nearly 500% over 5 years.