Slow Load Times Lead to Mobile Transaction Abandonment
In addition to reporting the majority of mobile users abandoning transactions, the study found nearly a quarter of consumers abandon their attempts at opening an online game.More than half of U.S. smartphone owners (56 percent) have abandoned a mobile transaction, according to a study of 2,019 adult American consumers, which was sponsored by Jumio and conducted by Harris Interactive. This was down from the 2013 survey, which found that 66 percent of respondents failed to complete a transaction due to issues during checkout. After purchase uncertainty, respondents ranked usability issues among their top reasons for abandoning a purchase or account registration. These include slow loading times (36 percent) and difficulty getting through the checkout process (31 percent). "Businesses who sell or offer services through the mobile channel expend so much money and effort to get their prospects to their apps only to have a large percent of transactions fall by the wayside for a reason they actually have control over: the user experience," Marc Barach, chief marketing and strategy officer at Jumio, told eWEEK. "Since we now expect most things anytime and anywhere, mobile fraud is growing as well. That’s because consumers still prioritize convenience over security and the survey brought that out as well."
Barach said this is a significant problem since consumers are increasingly using their mobile devices for sensitive transactions such as banking and other financial services.