Over half of online merchants report checkout issues during peak shopping times

Over half of online merchants report checkout issues during peak shopping times

The majority of online SMBs (small to medium size businesses) rely on seasonal business to keep them afloat,but around half (52%) say they have experienced checkout issues during these vital surge shopping periods, up from 43% in 2021. That’s according to new research with over 1,100 merchants in 12 countries commissioned by leading specialised payments platform, Paysafe.

Almost three quarters (74%) say the checkout continues to be a serious competitive advantage, perhaps in part due to the impact when things go wrong. Nearly a third (31%) of businesses who have experienced a surge-related issue with their checkouts lost upwards of US$100,000 – with common issues including checkout system slowdown (46%) and a failure to authorise payments (31%).

This problem takes on more significance if you consider the effort merchants make to get customers to the checkout stage in the first place. Nearly three quarters (74%) cite cart abandonment as an on-going issue in 2022 and 61% say abandonment has increased in last 12 months.

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