E-commerce companies losing money as Indians ditch shopping carts, says SAP study
According to new research from SAP, more than half (56%) of Indian shoppers ditch their online shopping carts sometimes or all the time. The SAP Consumer Propensity Study focusing on online shopping behavior found that this is because they use online shopping carts to compare prices of similar products with no intention to purchase (45%). They also stop short of clicking ‘purchase’ as they are put off from higher than expected shipping costs (54%), or face issues with out-of-stock items (42%). 1,000 consumers in India were surveyed on their behavior at checkout stage and motivations to complete the purchase, with the results revealing that Indian consumers tend to procrastinate when making online purchases.
“The e-commerce journey is not a linear path, with multiple factors and touchpoints influencing purchase behavior. Cart abandonment data such as items selected and discarded, navigation steps, amongst others, provides a valuable trove of insights for retailers to identify friction points, map out the consumer journey, and make improvements to the overall purchasing experience”, said Krishnan Chatterjee, Chief Customer Officer and Head of Marketing, Indian Subcontinent, SAP. Almost a third of Indian consumers surveyed are also more likely to leave their items in the shopping cart for more than a week and have a higher tendency to forget about their intended purchases, with close to a third (32%) forgetting about the items in their carts, as compared to a fifth (21%) in other APAC countries.