In this era of rapid development of e-commerce, consumers pay more and more attention to online shopping experience, and convenient payment methods are also an important part of it. According to foreign media reports, about 94% of the most popular e-commerce websites in Europe have one or more errors on the checkout page , which will have a certain impact on the sales of e-commerce websites.
Consulting firm Edgar, Dunn & Company produced the 2021 European Checkout State Report after analyzing the checkout pages of Europe's 800 largest e-commerce sites , 200 subscription services, and surveying 800 consumers in Europe .
According to the report, 21% of European consumers abandon a purchase if the checkout takes more than one minute, but 44 % of consumers believe that the average time they take to complete a purchase is more than three minutes . 17% of consumers said that long and complicated checkouts were a reason for canceling an order in the past year.
15% of consumers in Europe leave their shopping cart when their desired payment method is not available. This also means that European e-commerce companies still have a lot of work to do in improving payment methods , even the major e-commerce companies.
In addition, according to research by Baymard Institute, the average global shopping cart abandonment rate is 68.8%. If the payment problems encountered by consumers can be solved, it will lead to a significant increase in sales of e-commerce websites .
According to the report, the problems with the checkout pages of these e-commerce websites are mainly in the following aspects : 1. Failure to promptly alert consumers when they enter an invalid card number or attempt to pay with an expired card; 2. 61% of these shopping websites do not support automatic location address. 9% of the websites do not support automatic location address or local auto-fill. 3. 10% of e-commerce sites do not default to consumers using their payment address as their delivery address ; 4. 75% of e-commerce websites do not allow customers to save their payment information for future use .
All these errors in the payment process will bring a bad shopping experience to consumers, but European e-commerce companies often ignore these points. In the past year , the number of online shopping by consumers has increased significantly, and e-commerce companies must also make more efforts to improve the shopping experience of consumers in order to usher in longer-term development. European e-commerce Payment Methods |
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