Recently, caught up in the Black Friday frenzy, 3DiVi Sales Manager Mikhaylo Pavlyuk decided to treat himself to some new fishing gear. Not the best timing, but who can resist the pull of a good hobby? He filled up his cart, but the discount required him to log in... and, unfortunately, he couldn’t remember his password. Password recovery? Not working too well. Turns out the emails were landing in spam. It was late, so he just abandoned his cart.
Mikhaylo’s experience isn’t unique. To understand the broader impact, we took a deep dive into global statistics to see how often shoppers abandon their carts due to password issues—and how much it’s truly costing businesses.
Here’s what we found:
- 1 in 4 online shoppers would abandon a cart worth over $100 if they were asked to reset their password before completing the purchase.
- The most common password-reset struggles online banking.
- 34% of respondents admitted they reset their password at least once a month because they can’t remember it and 15% do it once a week!
Think about it—every week, 15% of transactions over $100 could be at risk. For any business, that's a costly issue.
So, what can businesses do to prevent this? Here's our suggestion: What if we offered customers an alternative—biometric authentication for login?
3DiVi BAF makes it easy with fast, secure, and hassle-free multi-factor face authentication. Don’t just take our word for it—try it out with a free online demo.
Why keep losing customers over something as simple as a forgotten password when you can offer them a smoother, more secure login experience?
