McAfee study shows that security is a major concern for online buyers
McAfee has revealed how vital security is in order to get consumers to click “buy,” in its study Digital Window Shopping: The Long Journey to Buy.
McAfee found a majority of shoppers are “digital window shoppers,” or consumers who start shopping on a site, leave for a period of time and return later to complete the sale. McAfee studied the behaviour of 163 million shoppers and found that sales conversions were 11 percent higher for digital window shoppers who were shown a security cue, like the McAfee SECURE trustmark. Further, the longer it took customers to complete a sale, the more responsive they were to security cues.
“Online retailers who ignore the role security plays in converting digital window shoppers to customers are missing out on billions of dollars they can’t afford to lose in this economy,” says Jayson O Reilly, regional manager for Africa at McAfee. “Many will take traditional measures to get customers to return, like reducing shipping costs or offering coupons, but more can and should be done.”
Retailers should re-examine abandoned shopping cart rates. McAfee’s study found that 65 percent of all shoppers wait a day or more to complete a purchase, and the average delay is 33 hours and 54 minutes. Instead of panicking, e-tailers should understand the reasons for abandoned shopping carts and implement strategies to combat consumer fears.
“Retailers shouldn’t misinterpret abandoned shopping carts – many of these potential sales return later to finalize the sale,” says O’Reilly.
“Understanding this delay is critical for merchant analytics.”