Cancel at the checkout: 76% of Brits dump their online trolleys over security fears
A report has revealed that “basket anxiety” is caused by concerns over the safety of an e-commerce website, and how tedious the purchasing process is
76% of online British shoppers have dumped their shopping trolleys because of security concerns they have about the website they are browsing.
According to a new survey Visa, “basket anxiety”, an ever increasing phenomenon, is compelling consumers to put back what they’ve virtually picked up – causing e-commerce businesses to miss out on serious sales.
The study, which looked at the spending habits of 1,000 UK consumers, has revealed that 74% have abandoned their basket at least once in their lifetime, and left without buying anything.
While the majority do so because they feel uncomfortable entering personal information, such as bank card details and their address, into a site which they perceive to be insecure – 59% also say they won’t part with any cash if the payment process is tedious or overdrawn.
Despite these concerns, recent figures show more than £130bn was spent on online purchases in the UK in the last 12 months – a figure that has been increasing year-on-year.
Indeed, 66% of millennials, those aged 18 to 34 years, now spend as much on websites and apps as on the high street.
Kevin Jenkins, managing director of Visa UK and Ireland, said:
“The UK leads Europe in ecommerce sales, with mobile shopping in particular experiencing rapid growth. But, with so many consumers abandoning baskets during the buying process, there is a clear need for new, easy, secure ways to pay.
“Retailers who are able to address consumer concerns in relation to the security and convenience of the payments process will avoid losing out on sales. Furthermore, they will tap into the vast opportunities offered by online retail.”
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