key insights for retailers
Around 74% of UK online shopping baskets were abandoned in late 2024, with recovery rates below 5%. This article examines why consumers leave purchases incomplete and what retailers can do to improve conversion.
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checkout abandonment
The Retail Institute provided Novuna consumer finance with a series of thought leadership pieces on the topics of interest for their existing and prospective customers.
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Main findings
The top reasons customers abandon checkouts include unexpected delivery cost, requirement to create accounts, complicated checkout processes and lack of trust in payment security. Mobile shoppers are slightly more likely to abandon compared to desktop users. -
Key trends
Online shopping now represents 27% of UK retail sales, with smartphones being the primary shopping device. Digital wallets have become the preferred payment method, especially among Generation Z shoppers. -
Solutions for retailers
The article emphasizes that while some abandonment is natural browsing behavior, retailers can significantly improve conversion by addressing friction points in the checkout experience
ben mitchell
He conducts research for retailers, brands and manufacturers on a wide range of topics including consumer behaviour and sustainability. Ben has written many reports and articles for Retail Institute members that help to support product development, marketing strategies and employee development. He also teaches on Leeds Business School courses relating to marketing and consultancy.
