Hello, there have been quite a few posts about buyers not paying for items and I wanted to try to shed some light on this issue and why - in large part - it isn’t a “problem” and we can fix it.
Many buyers drop out of the basket and checkout journey when buying. Not only at Folksy but anywhere online. There are a host of strategies retailers do to try and reduce this (such as emailing registered users to say “forgetton something?” or “we still have your basket waiting!”) which you may have seen yourself.
It is common for people to drop out and not buy. Unfortunately, what we do is tell you someone has placed an order before they pay. We shouldn’t do this. Paying is the key act of conversion. Before paying the customer has not committed and may decide they don’t want to buy.
The % of people abandoning at the basket stage varies greatly. This wikipedia article cites: “The typical shopping cart abandonment rate for online retailers varies between 60% and 80%, with an average of 67.91%”.
60-80%! From this it would not be unreasonable to state that around 10% would abandon at the checkout stage. From our research, analytics data and our feedback from customers (via the Satalytics promoter score) our checkout process works well.
We’ll look at amending the order notification so that you only get notified on payment. Do let me have your feedback about doing this.