Online shoppers 'wait four minutes'

Online shoppers will typically give up trying to make a purchase after four minutes if they have not been able to get through the retailer's security checks, a new study has found.

Research for Experian revealed that 44% of people had abandoned an online shopping transaction because the checks were taking too long and 43% turned to a competitor after becoming frustrated with lengthy procedures.

Impatience was found to be greatest in the online gaming sector, when people will try to make a purchase for an average of three minutes before abandoning it.

Fierce competition will take place among online retailers this month as customers look to grab the best Christmas bargains in the tough economic climate.

Interactive Media in Retail Group estimates that shoppers will spend £7.75 billion online throughout December.

The Experian survey found younger adults had the least patience, with 13% of adults under 35 frequently abandoning security checks due to the length of time they take, compared with 10% of 35 to 54-year-olds and 8% of the over-55s.

Consumers were more tolerant when it came to banking procedures, being prepared to wait almost as long online as in branches.

Respondents were willing to undergo checks for five minutes when signing up for online banking, compared with six in branches.

Travel and insurance were also areas where people were prepared to wait for longer, typically for six minutes.

Professor Paul Barnes, director of the International Fraud Prevention Research Centre, which also carried out the study, said: "Identity checks are in all our interests and necessary, however time-consuming they appear at the time."