Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Delivery frustrations cost online retailers billions in lost sales

by May 23, 2023
May 23, 2023
Delivery frustrations cost online retailers billions in lost sales

Retailers are “losing” up to £31.5 billion in online sales each year because of delivery-related “frustrations” when customers come to pay, research shows.

A report to be published this week has found that 24.8 per cent of attempted online purchases are abandoned by shoppers because of poor delivery choices, high delivery fees and slow delivery speeds.

The report, Battling Basket Abandonment, by GFS, a delivery company, and Retail Economics, a consultancy, says that 83 per cent of retailers believe they offer delivery options that meet customers’ needs, but only 48 per cent of consumers agreed.

Three in five retailers in the study offered express or next-day delivery and less than half provided nominated delivery or parcel pick-up points. Parcels left in insecure places, poor packaging and difficulties returning items were the top three “pain” points.

Richard Lim, chief executive at Retail Economics, said consumer expectations were “higher than ever before” and they showed “little tolerance” for brands unable to meet these levels.

“It’s clear that with such a high proportion of online baskets being left abandoned at the point of checkout, retailers need to prioritise offering a range of delivery options to suit their customers’ needs if they are to win.”

Bobbie Ttooulis, executive board member at GFS, said: “The research validates, and more importantly puts a value on, what we’ve always known to be true: that lack of delivery options results in lost sales at the checkout. In our experience, retailers are well aware of this, but struggle to overcome the internal costs and complexities.”

Read more:
Delivery frustrations cost online retailers billions in lost sales

0
FacebookTwitterGoogle +Pinterest
previous post
UK business guru Tom Glanfield reveals the secret to growth
next post
Britain no longer heading for recession this year, says IMF

You may also like

Biden’s Exit: The Right Move for the Democratic...

July 22, 2024

Meta soothes ad giants with ‘community notes’ after...

January 22, 2025

UK economy will ‘flatline’ as inflation and tough...

June 9, 2023

Astrazeneca scrapped £450m vaccine plant after government missed...

March 19, 2025

Urgent action needed to help UK SME exporters...

October 10, 2022

Barclays launches £22bn fund and new business prosperity...

November 13, 2024

Businesses losing trust in HMRC as service standards...

October 15, 2024

Fuuse closes £8.7m Series A round to power...

June 5, 2024

Made in Britain: Male grooming brand, Baldape

August 25, 2022

Cryptocurrencies surge as Trump unveils us ‘crypto reserve’

March 3, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved