Online checkout abandonment reaches record low in Q1 2015

Checkout abandonment rates for UK online retail sites fell to a record low in the Q1 of 2015, with just 26% dropping out at the checkout stage. 

This is according to the latest results from the IMRG Capgemini Quarterly Benchmarking study which said the average checkout abandonment rate in 2013 was 35%, and fell to 30% in 2014, showing “consistent improvement”.

The quarterly benchmarking results also revealed that sales through mobile devices (smartphones and tablets) accounted for 42% of total UK online retail sales in Q1, up from 40% in the previous quarter and 34% in the same period last year.

Some 58% of traffic to online retail sites now comes via a smartphone or a tablet device, according to the figures, up from 53% in the previous quarter and 48% in the first quarter of 2014.

Tina Spooner, chief information officer at IMRG, said: “Reducing abandonment at the checkout is a clear focus for online retailers and, despite the fact it has come down significantly, just over a quarter of online shoppers still do not complete their purchase after reaching the checkout page.

“There are any number of reasons why shoppers might abandon at that point – particularly in relation to trust, convenience or delivery options – and the investment made in improving these areas appears to be paying off.”

Spooner added that the pace of change in the online retail industry is “extremely rapid”. He added: “Three years ago mobile devices accounted for one in five visits to retail sites and today almost 60% of consumers browse the web on smartphone and tablet devices.

“It is clear that investing in optimising sites for mobile users needs to be a key focus for many retailers.”