SAP’s Consumer Propensity Study has found that Australian consumers have a high tendency to abandon online shopping carts, with 57 per cent discarding their carts sometimes or all the time, particularly in the categories of fashion (67 per cent) and furniture (65 per cent).
Sixty per cent of Australian consumers abandon the shopping chart due to shipping costs, and 46 per cent use online carts as a way to compare prices with other brands and websites.
The global survey, which included 1000 Australian participants, showed that prices are a key driver, with 53 per cent of Australians indicating that discounts and promotions succeed in encouraging them to complete a purchase. Around 32 per cent are encouraged to buy when multiple purchase deals are offered, and 31 per cent are motivated when the retailer provides quick responses to queries.
The supply chain and stock availability is also an issue for customers, with 32 per cent giving up on carts due to out-of-stock items, and 29 per cent don’t purchase if there are longer-than-expected delivery times.
“Reviewing cart abandonment data provides a starting point for retailers to identify friction points in the consumer journey and make improvements to the overall purchasing experience”, said Jennifer Arnold, vice president of marketing, Asia Pacific Japan and Greater China, SAP Customer Experience. “Consumer behaviour at the checkout stage, including items selected and discarded, navigation steps, time spent to complete specific actions, the precise point of abandonment, amongst other factors, provide valuable insight into ways the retailer can boost customer engagement and increase conversion.”
When it comes to what Australian customers want from brands when shopping, 57 per cent identified easy exchange and return services, 51 per cent nominated comparison tools to check prices and specifications, and 42 per cent chose a physical store where they can try and buy. These functions were more important than chatbots and 24/7 customer service (34 per cent) and virtual/augmented reality technologies (33 per cent).
“The findings show that customers want the basics done right and are willing to move on to other brands if they aren’t receiving the best experience possible. Today’s customers are taking charge of the relationship they have with brands, and don’t think in terms of B2B or B2C, but ME2B. The results point toward a deeper ask for engaging buying experiences tailored to customers’ individual needs and lifestyles, which extends to ongoing service and support,” said Arnold.
“To achieve this, brands need a robust omnichannel approach based on having a view of the customer across all touchpoints at all times, and advanced analytics to anticipate customer behaviours and understand their real-time intent. What’s more, brands need to ensure their business processes and systems are integrated with the experiences they deliver to their customers. With this in place, brands will be able to provide a personalised and responsive consumer experience before and after the checkout process.”