Popular Singapore e-commerce sites face checkout woes

Many of Singapore’s most visited e-commerce websites have error-ridden checkouts that frustrate customers and cost businesses revenue, finds a *survey from financial infrastructure platform Stripe. 

Why it matters

Optimising the checkout experience allows businesses to make more money for less effort and with Asia Pacific’s economic growth expected to slip this year, it is a simple and efficient way of boosting sales during a downturn.

Takeaways

• 99% of APAC e-commerce sites make five or more basic errors at the checkout.
• Online shoppers expect the checkout process to be fast and they leave when it’s not.
• More than half (57%) of Singaporean shoppers say they will abandon a purchase if checkout takes more than three minutes. 
• 87% of Singaporean shoppers are likely to abandon a purchase if their preferred payment method is not offered.
• 82% of e-commerce sites do not display security logos on their checkout page, jeopardising customer trust.
• 71% of websites do not follow up with customers that abandoned their cart.
• 88% do not recommend higher-end versions of a product or service through upselling.
• 60% do not recommend related products or services through cross-selling.
• 52% allow customers to attempt to pay with an expired card, increasing the likelihood of payment errors.

Key quote

“In light of economic uncertainty, businesses that are ignoring their checkout experiences are subjecting themselves to unnecessary revenue loss. There are easy fixes to these issues, especially with technology like Stripe Checkout, which addresses these common errors seamlessly, ensuring no money is left on the table because of an abandoned cart” – Paul Harapin, head of Asia Pacific & Japan, Stripe.

*Stripe’s The State of Checkouts in 2022 report reviewed the 100 top e-commerce websites in Singapore.