What with rapidly evolving technology, growing purchasing power in emerging countries, smart phones, social media: online merchants today have access to an ever-increasing audience. Exactly the same factors that also contribute to greatly intensified competition. WorldPay surveyed 19,000 online shoppers worldwide and 150 major online retailers and came to the conclusion that often sellers do not offer their customers what they really want.
For the its Global Shopper Survey, WorldPay interviewed 2,000 online customers each from China, the USA, Brazil and India as well as 1,000 participants from Germany, Spain, Finland, France, Japan, Russia, Britain, Mexico, Australia, Canada and Argentina respectively. A selection of 153 online retailers also featured in the study.
Diverse shopping habits
The world’s consumers spend on average 22 percent of their disposable income on purchases on the Internet, with Indians at the forefront (33 per cent). Chinese and Indians spend the most time shopping online at 8 hours per month, while French, Finnish, Japanese and Spanish allocate less than four hours to the activity.
Shopping in the living room on your own PC
The results show that, despite the increasing popularity of mobile devices, 95 percent of online transactions are performed in customers’ homes, with 64 percent taking place over the home PC. Worldwide, 8:40 am is the time at which customers are most likely to make a purchase; 54 percent of these take place in the living room.
Unexpected extra costs drive away customers
A surprising finding of the study was that 36 percent of retailers believe that the customer is dropping out due to a payment being declined. On the list of reasons for customers abandoning their virtual shopping cart, however, this was least significant with only 11 percent. In this connection, 56 percent say that the reason for abandoning a purchase is due to the emergence of unexpected costs.
Security more important than user-friendliness
While on the one hand vendors are confident that website design and layout (67 percent), quality of navigation (62 percent) as well as speed and shopping experience (62 percent) are the primary factors that motivate a customer to return, the interviewed customers, however, place a higher value on security and privacy (75 percent), controls over the security of the payment system (66 percent) and warranties for products and services (57 percent).