Ask Is it common for shops to lose buyers because checkout takes too long?

[Dominic87]

A lot of online shops lose buyers at the last moment simply because the checkout page asks for too much information or takes too many steps to finish. People get impatient fast, and if a shop makes them fill long forms or wait too long, many will just close the page and leave without buying. A shorter and simpler checkout usually keeps more buyers around till the end. Should shops treat a slow checkout page as a bigger problem than most people think?