Poor checkout experiences may cost the online retail industry over $6.5bn in holiday sales according to Aamir Rehman, senior analyst at New York-based consulting firm Creative Good.

According to a study of consumer behavior on eight participating retail sites, 43 per cent of purchase attempts failed, and 40 per cent of those failed attempts were due to difficulty during the checkout process.

The study also revealed some good news - namely, that 30 per cent of customers clicked on at least one product featured through online promotions or dynamic merchandising functions.