PayPal’s study on customers’ behavior in the UK

The new survey conducted by PayPal, the online payment provider, conducted in partnership with providers Venda, the European market leader for eCommerce solutions, and RomanCart reports that large and small e-tailers across the UK believe the future of online sales is no longer just about price and choice, as customers are now demanding the same, if not higher, levels of experience and service they would on the high street. The study polled over 250 online retailers including larger e-tailers on the Venda solution like Monsoon, Superdrug and Wickes as well as SMEs.

The research reveals that 68% of large retailers felt that cost and wait times for delivery were the biggest frustration for shoppers while only 26% of smaller retailers mentioned issues associated with delivery as a big frustration. It was followed by customers’ lack of confidence in after sales service (47%) and 39% felt that long online checkout processes caused major customer frustration.

67% of the retailers polled said that security concerns remain the biggest worry for the online shopper. Besides, the study touched upon the concept of ‘cold feet' where customers drop off a shopping site part way during the sales process.

Customer registration requirements were mentioned as the main reason for cold feet by 68% of SMEs and 48% of larger retailers. Two important factors influencing customers’ cold feet decision are poor site experience and unclear navigation as cited by 57% of online retailers.

Dan Wagner, Chairman at Venda commented: "Checkout experience, site navigation and security were all things that we expected to see in the survey results. Venda's unique community infrastructure means that as well as our standard checkout, PayPal Express checkout integration, faceted (or guided) navigation and adherence to the Tier 1 PCI compliance security level are all things that are part of our standard site builds at no extra cost. I was also pleased that accessibility and site speed were also mentioned as BBC Shop, a Venda client, was confirmed as the most reliable site in the UK over Christmas last year. Retailers need to address these issues now; otherwise they will struggle to get the sales."