Security News > 2021 > December > How password troubles could cost your online business potential sales
One in four online shoppers surveyed by Beyond Identity said they'd abandon a shopping cart of $100 or more if they had to reset their password to check out.
Beyond trying to deal with password guidelines and enforcement, online companies face a loss of sales as people become frustrated by the whole password process.
For its report "Are Password Resets Costing Your Company?" Beyond Identity surveyed 1,019 US consumers about their experiences with passwords and online checkout.
Asked how many times they'd try to guess a forgotten password before resetting it, 36% of the respondents said twice, 28% said once, and 22% said three times.
When forced to reset a password, half of the consumers would create an entirely new password on their own, 37% would use a password generating service, and 12% would use a variation of the old password.
Focusing on shopping sites, Beyond Identity found that 88% of the respondents were likely to try to reset a forgotten password if they already had items in their shopping cart.