Checkout speed is essential to attract online consumers

Checkout speed is essential to attract online consumers

The ecommerce marketplace is quickly becoming more competitive as retailers battle for consumer interest, but buyers aren't just attracted to low prices and flashy advertisements.

According to a recent survey by Postcode Anywhere, 76 percent of consumers said checkout speed is at least somewhat important to an online shopping experience, while 35 percent said it was very important.

"We would urge online businesses to take the time to make sure that small things aren't damaging their performance," said Guy Mucklow, Postcode Anywhere's managing director. "The importance of a clean, quick and professional-looking website cannot be underestimated. For an online business to succeed there needs to be a clear focus on the whole customer journey."

A lack of online security, long website forms and required signups prior to a transaction are the top three reasons consumers abandon ecommerce checkouts, the report said. As for the holiday season, which is off to a historic start for online sales following Black Friday and Cyber Monday, 85 percent of consumers said they plan to shop online this year.

According to comScore, Cyber Monday sales totaled $1.25 billion, making it the highest online spending day in history.