There are lots of reasons why high-intent shoppers abandon their online basket. Some are driven by cost, some are deterred by a lack of convenience and yet more abandon their purchase because of a mix of the two. By far the biggest motivating factor, however, is due to a lack of reliable information.
By conducting research amongst 2,000 consumers, online customer engagement company iAdvize has identified the top seven reasons for basket abandonment. The top two reasons were slow website followed by expensive delivery. The next five defining factors, however, were all based on the dearth of reliable, quality information:
What makes you abandon an online purchase?
- Website too slow: 41%
- Delivery options are too expensive: 41%
- Can’t find the information I need: 36%
- I can’t find the item I’m looking for: 26%
- I don’t trust an online product review: 20%
- There’s too many choices and I can’t decide which is best: 18%
- It would be easier to speak to someone in store: 11%
In an age when information is presumably just a screen tap away, you would be forgiven for thinking that this is an astonishing claim, but ubiquity of data doesn’t necessarily make for happier and more confident consumers.
Consumer anxiety is also being fuelled by the retail equivalent of ‘fake news’ as a recent reports suggest online marketplaces such as Amazon are being flooded with fake five-star reviews by the unscrupulous vendors of generic products.
For example, Which? experts recently searched for headphones on Amazon and found 87% of 12,000 unknown brands were from unverified purchases.
In one example, a set of headphones sold by an unknown brand called Celebrat, had 439 reviews, all of which were five-star, were unverified and were posted on the same day, suggesting they had been automated.
So how can brands and retailers allay the fears of nervous high-intent, high-value consumers and save the sale? The iAdvize research revealed the following insights which prove key to answering this vexing question:
- 40% of UK consumers still want human interaction when buying online
- 49% don’t mind using chatbots as long as they get the information they need
- 52% would more likely buy an item if a brand or retailer offered more support
- 63% would be more likely to remain loyal to a brand if it delivered the advice/information they needed when shopping online.
The research clearly shows that the answer is high-quality customer engagement at key points during the customer journey, when and where the customer wants them. This engagement should also feature seamless escalation, have human interaction at its pinnacle and be integrated so the retailer can analyse and act on the full range of buying signals displayed by their customer during their journey.
To understand why brands abandon high-intent customers at the point of purchase and how they can fix it, read iAdvize’s new report: http://bit.ly/2H8gyCB