1 PayPal eCommerce Index 2023. This research report was produced in October 2023 by PayPal UK Pty Limited, based on a study conducted by Fifth Quadrant with n=2,047 consumers and n=623 businesses
You’ve captured customers’ attention and nurtured them through the buying journey. Now they’re ready to check out. How do you make sure they get past the final step?
Checkout is a significant hurdle for online retailers. 66% of UK consumers have abandoned a purchase or payment online1 to avoidable issues like lengthy checkout forms, questionable security, and lack of preferred payment options. Friction disrupts the shopping experience and slows customers down, which frequently causes them to exit the process altogether.
55% of e-commerce shoppers say checkout friction is frustrating enough for them to abandon their carts.2 There’s no question that a friction-free checkout is crucial to get a handle on cart abandonment rates. Dive in to learn how to help your customers make it past the finish line.
Streamlining your checkout can pay off in dividends and can result in:
54% of UK shoppers say that fast, easy checkout experiences motivate them to make a purchase.3 Fixing points of friction in your checkout process can have a massive impact on people’s willingness to follow through. Consider where the friction is and take action.
Manual account creation can be a tedious and frustrating experience. 31% of UK shoppers say that having to create a new user account is a barrier for them.3 By simply offering guest checkout, you provide a faster path to purchase, which is particularly appealing to first-time customers.
50% of UK shoppers are less likely to make an online purchase or payment if they encounter security or trust concerns at checkout.3 Online businesses can help customers feel secure by giving them payment options they feel comfortable with, like PayPal. Making PayPal branding visible on product pages makes 35% of all customers more likely to complete a purchase.3
25% of customers give up on a purchase after experiencing card/payment method unexpected failure.3 Minimising failed transactions and ensuring payments go through smoothly is a win-win for your business and its customers. Whether due to insufficient funds or expired payment methods, merchants can improve customer satisfaction and drive revenue by reducing complications at checkout.
Ready to deliver a faster, more satisfying shopping experience? Follow these tips to get started.
Cater to different customer bases by offering a wide selection of payment options, including debit and credit cards, digital wallets, Pay Later, and various local payments methods.
Optimise the checkout experience to reduce clicks and form fields. By making the process as quick and simple as possible with minimal actions required from shoppers, you can improve their experience and lower the likelihood of cart abandonment.
48% of carts are abandoned due to unexpected costs at checkout.4 Help manage expectations by displaying estimated delivery times and costs upfront.
Securely store your customer payment information and keep them updated to help prevent transaction declines.
As you review your checkout process, ask yourself:
Turn browsers into buyers by tapping into the full potential of PayPal. We can help you offer an array of trusted e-commerce checkout methods, all in one simple integration for every business size and need. Streamline your shopping experience and help boost conversion rates now with PayPal’s seamless checkout and quick and easy payment options.
It’s more than a button. It’s the power to do more – for your customers and your business. See how PayPal’s checkout experience can help you exceed expectations and power purchases.
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