consumer-psychology-infographic

For centuries, trading has been conducted on a face-to-face basis; making the concept of E-commerce a relatively new notion. The world of E-commerce represents quite a shift in trading, and with this, the consumer themselves alter their shopping habits when presented with a virtual shopping platform.

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Brands small and large fight tirelessly for their slice of success online, if achieved, profits can be rewarding, if failed, a website can easily become lost in the saturation of competitors. While a brand may offer high quality products which tick the box in terms of price and commercial appeal, they must be represented correctly by the brand selling these products, enough for the consumer to add them to their checkout cart. If this is achieved, studies reveal the average checkout abandonment rate is 67.4% meaning an overwhelming amount of online retailers fail to guide their customers through their checkout and entice an actual sale.

 Consumer Psychology & ECommerce Checkouts Infographic

Vouchercloud have produced this infographic to explore just how online consumers are interacting with a website when shopping online. It is expected that by 2016 in the US alone, online shoppers will spend $327 billion a year. With this potential to seize staggering business sales, businesses must adapt and streamline their E-commerce platform to meet consumer expectation.

Vouchercloud highlight some of the key elements which lead to checkout abandonment within their infographic.