Latin America has one of the highest abandonment rates of the cart in the world, reaching 87%
Summary
The complicated checkout is the main reason for the high abandonment of trolleys in Brazilian e-commerce, but technologies such as pixs and innovative solutions can reduce this friction, improving the consumer experience and loyalty.
One of the greatest enigmas of and -commerce Brazilian is its high rate of abandonment of the cart, which already exceeds 80%. To better understand the reasons, the Onekey payments have released the “disruptive payments” study that reveal the main points that hinder a purchase trip.
– 62.6% of consumers have already given up online purchase due to excessive data on the formation of modules;
– 92.8% abandoned the transaction because they could not access the device to which the authentication code (OTP) was sent;
– 93.7% interrupted the purchase because the site did not charge correctly.
Complicated payment processes, slow pages and unexpected requirements are among the main reasons. However, the payment institution responsible for the survey believes that new technologies and payment models have the potential to solve this historical problem of digital trade in Brazil.
“What the data clarifies is that payment in payment was a key factor, but not very explored, in the retreat of purchases,” explains César Garcia, CEO of Onekey Payments. “On the other hand, many of the problems underlined by consumers can already be solved with innovative solutions”.
Although retailers are starting to realize the importance of the payment phase in the conversion of sales, the survey stresses that only just over half (54%) retailers consider the fundamental payment experience for the reputation of the brand.
Cesar compares this number with that of consumers: almost three out of four (73.1%) say that the favorite method and the payment process can be decisive when choosing between two competing brands.
“There is still a lack of correspondence between how much the consumer appreciates the payment experience and how much the shopkeeper sees this value,” he says.
Almost nine out of ten consumers (87.5%) consider their favorite process and the payment method as something “important” (73.1%) or “elementary” (14.4%) in the purchase decision.
Today, the digital consumer includes rapid payments and a click and easily surrender in long or complicated payment trips.
“Payment is not only technology, it is trust, loyalty and sustainable growth,” he says. “If you offer the Brazilian consumer an intuitive, safe, predictable and without friction process, your brand will be appreciated as the product or service it offers.”
The company indicates pix as an example of how technology, when you think of focusing on the user, can overcome the barriers of the abandonment of the cart. Pix has already passed credit cards as a method most used for online shopping and is also more popular than cash payments in the face.
“It is simple, safe and fast, in essence, all that a payment should be. And with recurring payments, in particular with the recent automatic photos launch, the system redefines the way in which brands can offer comfort and loyalty, eliminating the repetitive phases in periodic purchases, such as the signatures and the recurrent services.
Technologies such as a payment of clicks, recurring payments, biometric authentication and advanced fraud detection systems are now available for payment institutions and retailers and can resolve old e-commerce obstacles. Digital wallets, which act as a “virtual wallet” inside the mobile phone, keep the card data safe and prevent the consumer from having to enter any purchase again. This makes the process faster and less likely to abandon.
In addition, innovations in the prevention of fraud, using artificial intelligence and automatic learning, make the experience safer without adding barriers such as codes sent to secondary devices.
“With taxes of abandonment still so high, now it is up to payments suppliers integrating these solutions focused on safety and operating effectiveness, show their benefits for retail and, in particular, offer the purchase experience that the consumer not only expects, but requires”, concludes César.
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Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
