Although ecommerce revenue this year is forecast to reach $930 billion, per Adobe Analytics, aggregated retail data from Fast suggests the need to deliver better checkout experiences to reduce shopping cart abandonment.
Shoppers participating in the survey say they experience multiple roadblocks and detours that lead them to abandon shopping carts. These include:
Fast, which makes login and checkout products, conducted the survey among 1,004 U.S. adults ages 18 and older from June 2-4, 2021.
The findings also suggest shoppers are interested in purchasing products directly from the channels where they discover them, such as social media, from a digital ad or online review. This explains why Google has made a push into ecommerce and why Amazon has become the engine to search and buy.
In May, Google said it is working with Spotify to allow more merchants to sell across the search giant’s properties and increase its ecommerce business. The news was announced during the Google I/O software developer conference.
Some 55% participating in the Fast survey indicated that a faster, easier way to buy directly from these channels would make them more likely to buy.
When asked what influences them to buy the product after putting it into the shopping cart, 72% of consumers point to media, advertising, and social media.