69% of Black Friday Shoppers Gave Up
Analysis of e-commerce sites on Black Friday shows mixed results, with websites losing a significant number of sales.
Manchester, United Kingdom, November 28, 2016 (Newswire.com) - Black Friday is about great offers but often great frustration for shoppers. Start-up Formisimo (www.formisimo.com) reveals how online shoppers get frustrated and abandon websites completely, and they’ve crunched data on Black Friday to show how different it is from a normal shopping day.
Black Friday 2016 saw stronger conversion rates for retailers than Black Friday 2015.
(Conversion Rate increased by 21% vs Black Friday 2015. Conversion rate of 31% on Black Friday 2016, 26% in 2015, 28% on a normal Friday)
On one of the busiest online shopping days retailers lose 69% of customers because of their checkout process. That's a huge amount of money left on the table.
Al Mackin, CEO of Formisimo
An average of 69% of online shoppers abandoned their purchase on Black Friday 2016. (Improved from 75% abandonment in 2015, and 72% on a normal Friday)
Shoppers on Black Friday made more mistakes in the checkout process, with Mobile users correcting the checkout at a 15% higher rate than Desktop users.
(Corrections in the checkout process up by 7% on Black Friday 2016 versus a normal Friday)
Full statistics at: http://www.formisimo.com/blog/black-friday-2016-checkout-conversion-statistics/
Commentary
Consumers have always found it hard to complete online checkouts - they move from an excited phase of choosing a product to being asked many questions. Online checkouts are often badly designed and they want information entered in a specific way. Small issues add to frustration, and this builds up to a point where the potential customers abandons the website, and in many cases they won’t return in the future.
Black Friday is an exciting time for consumers. They’re exposed to significant cost reductions and they want to get hold of a product as soon as possible. When they’re confronted with a checkout process their excitement levels reduce and they have to fill in more and more fields. The cognitive load increases, and can reach breaking point.
Black Friday is a deal-focused day and shoppers will visit unfamiliar websites in order to get the best deals. On a normal shopping day, users visit a site that they are comfortable with and the buying process is much easier as they know what questions will be asked. When visiting a new website even straight forward questions can become more difficult as they’re phrased in different ways. The layout of the checkout is different or the options aren’t the same as sites with which one is familiar.
The challenge for e-commerce sites on Black Friday is to create a checkout process that’s well designed, that asks for as little information as possible and that is error free.
Quotes
Formisimo CEO Al Mackin says, "On one of the busiest online shopping days of the year retailers are still losing 69% of customers because of their checkout process. That’s a huge amount of money left on the table."
"Customers are happy when they find great deals but hate having to fill in an online checkout. When you’re rushing to buy a discounted product on a website you haven’t visited before you want a seamless checkout experience, and retailers run the risk of losing shoppers because their checkout is confusing, long-winded or broken.”
“Often customers are presented with long-checkouts, with lots of questions. They’ll be told that they have entered incorrect data, that there’s an error somewhere or they’ll just be so confused that they leave the site complete, never to return. The retailer can lose out on a customer for the rest of their lifetime.”
About Formisimo
www.formisimo.com
Contact:
Author: Al Mackin
Email: al@formisimo.com
Telephone: UK: 0800 772 0982
Outside of the UK: +44 800 772 982
Source: Formisimo