SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- Fast, the world's fastest online login and headless checkout experience, today announced the results of a recent survey that found consumers want a better online shopping process and are abandoning their shopping carts at record levels. According to the survey, 86% of U.S. shoppers say they have added an item to their online shopping cart, only to abandon it before checking out.
E-commerce revenue is expected to reach up to $930 billion in 2021, and analysts predict 2022 will be the first trillion-dollar year for online shopping. Yet, the new Fast data found consumers report multiple obstacles that lead to abandoned shopping carts, including:
18% have abandoned a shopping cart because the checkout process took too long or was too complicated
18% didn't want to create another online account
15% couldn't remember their login information
14% say their credit card information wasn't easily accessible
The lengthy checkout process that shoppers often face on e-commerce sites is part of what draws shoppers to Amazon repeatedly. In fact, when Amazon's famous expedited shipping isn't available, more than three quarters (77%) of Americans say they are more inclined to buy something on Amazon because of the easy checkout process.
Most shoppers (55%) say they would be more likely to make an online purchase if there was a quicker, easier way to buy directly from the channel where they learned about that product, like a social media post, digital ad or online review. Fast is addressing this opportunity with headless checkout, allowing buyers to complete one-click purchases wherever they are on the internet – such as directly from a product review or recipe to eliminate extra clicks that redirect them to a separate checkout page.
Additional findings from Fast's survey include:
72% of consumers say they have been influenced to purchase products based on media, advertising and social media consumption
Millennials (ages 25-40) are 71% more likely to purchase a product if there is an easier way to buy directly from these channels (the highest of all age groups)
Gen Z (ages 18-24) is three times more likely than the Baby Boomer generation (ages 57-75) to be loyal to a company when they purchase online versus in-person
"Even in an e-commerce boom, many retailers are still struggling to deliver amazing checkout experiences. Sellers devote a lot of resources to reach shoppers on social media or through digital advertising, only to lose them because of cumbersome checkout options," said Fast Vice President of Partnerships Calanthia Mei. "Buyers are clearly demanding better checkout experiences. Smart sellers are not just embracing one-click checkout, they're making it lightning fast everywhere their customers are with headless checkout."
Fast's survey was conducted among 1,004 U.S. adults ages 18 and older, between June 2-4, 2021.
About Fast Fast's mission is to make buying online faster, safer and easier for everyone. Its Fast Login and Fast Checkout product enable a one-click sign-in and purchasing experience that makes it easier for people to buy and merchants to sell. The company's products work on any browser, device or platform for consistent, stress-free purchasing, either on a merchants own domain or through headless checkout on any other website. Fast invests heavily in its user privacy and security, with a Zero Fraud Guarantee on chargebacks for sellers. Headquartered in San Francisco, Fast is a privately held company founded by Domm Holland and Allison Barr Allen and funded by Stripe, Addition, Index Ventures, Susa Ventures and Sugar Capital. To learn more, visit fast.co.