OPERATIONS

Survey: Poor mobile experience leads to abandoned carts

BY Staff Writer

Palo Alto, Calif. — Two-thirds (66%) of smartphone and tablet users have failed to complete an online transaction due to obstacles at checkout, according to a new survey from Jumio and Harris Interactive. Specific obstacles causing smartphone and tablet shoppers to abandon their shopping carts at the last minute include mobile checkout process being too long or difficult and not feeling secure in giving credit card information.

"Businesses invest a great deal to get consumers to the point of sale in their mobile apps, but there are a lot of obstacles keeping users from taking their purchase across the finish line," said Daniel Mattes, founder and CEO of Jumio. "From frustrations around having to type — and often retype — personal information into tiny text boxes to concerns over the safety of data, users are bailing out at checkout. Brands can’t afford to lose shoppers in those final moments of the transaction."

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FINANCE

Marks & Spencer completes rollout of Visa contactless payments

BY Marianne Wilson

New York — Britain’s Marks & Spencer (M&S) has completed the roll out of contactless payment to 644 of its United Kingdom stores, including its railway and airport franchise locations. The roll-out, which followed a successful trial in 25 London stores last summer, cements M&S’ position as the U.K.’s leading contactless retailer, processing over 230,000 contactless transactions every week.

The technology, provided by Visa Europe, enables consumers to simply touch the reader with their contactless cards, or enabled mobile phones without the need to enter a PIN.

Sacha Berendji, retail director at M&S commented: “Contactless and mobile payment is set to be an exciting part of the future retail landscape. A contactless payment takes place in less than a second, creating a quicker, easier and more convenient shopping experience. Customers are already embracing these benefits and through our roll-out we’re ensuring our stores can cater for customers’ changing shopping habits.”

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FINANCE

Gallup: Americans would rather save

BY Dan Berthiaume

Princeton – A substantially higher percentage of Americans (60%) would rather save money than spend it (37%), according to a new Gallup poll. Consumer show little difference in these preferences according to demographic categories such as age, gender, education and political party.

However, 73% of Americans earning less than $20,000 a year prefer saving over spending, compared to only 55% of those earning $75,000 or more. Gallup analysis indicates a general preference for saving among U.S. consumers partially explains why retailers generally perform better by offering sales and discounts than by offering everyday low price.

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