Almost three-quarters of Black Friday shoppers GAVE UP
A huge 69 per cent of Black Friday shoppers gave up while trying to bag a bargain online.
Tech start-up Formisimo crunched the numbers and found that frustrated browsers abandoned websites in their droves.
However that was an improvement on the 75 per cent abandonment rate on Black Friday in 2015, and 72 per cent on a typical Friday.
CEO Al Mackin said: "On one of the busiest online shopping days of the year retailers are still losing 69 per cent of customers because of their checkout process.
“That’s a huge amount of money left on the table.”
Consumers find it difficult to complete online checkouts as they are often badly designed and demand that information is entered in a specific way.
Formisimo’s tech makes checkouts easier to complete, improving the sale conversion figures.
It stores and analyses consumers’ behaviour within a website's online checkout, revealing the pain points in a series of interactive reports along with real time data on what customers are doing within the online form.
The Manchester start-up recently helped a leading cosmetics company achieve a €5 million sales increase.
"Customers are happy when they find great deals but hate having to fill in an online checkout,” added Mackin.
“When you’re rushing to buy a discounted product on a website you haven’t visited before you want a seamless checkout experience, and retailers run the risk of losing shoppers because their checkout is confusing, long-winded or broken.
“Often customers are presented with long-checkouts, with lots of questions.
“They’ll be told that they have entered incorrect data, that there’s an error somewhere or they’ll just be so confused that they leave the site complete, never to return.
“The retailer can lose out on a customer for the rest of their lifetime.”
Formisimo also found that shoppers on the busiest retail day of the year made more mistakes in the checkout process.