As you’re probably aware, a seamless checkout experience can make-or-break a customer conversion event. A user-friendly checkout is a driving function to reduce cart abandonment. Focus here is required for any company offering online transactions to purchase goods and services.
Reducing Cart Abandonment Rates
The average cart abandonment rate is approximately 69%. Most of these abandonments can be attributed to a complex or lengthy checkout process.
Benefit: Introducing a seamless checkout experience contributes to a direct correlation in a reduction of abandonment rates. Users are more likely to complete their purchases if the checkout process is quick, straightforward, and lacks any unnecessary hurdles. For example, a guest checkout option or transparent pricing are both ways to reduce friction when the user is ready to checkout.
Enhancing Customer Satisfaction:
Convenience is key. About 76% of people prioritize convenience when shopping online. This includes convenient, simple, and seamless discovery, search-ability, and purchasing process.
Benefit: When you prioritize a seamless checkout process, you not only retain customers, but also can increase customer satisfaction. This will drive NPS (Net Promoter Score) and lead to higher retention and referrals.
Boosting Conversion Rates
A good conversation rate is typical between 30% and 62%. But get this - a large e-commerce site can see a 35% increase in conversion rates if they just focus on better checkout design and usability (like adding progress indicators).
Benefit: Just a small improvement in the checkout experience can still result in massive gains when it comes to conversion rates. Specifically, this can significantly improve sales and revenue. Get this - in 2023, US e-commerce sales hit $272.6 billion for Q1. With improved checkout usability across the board, there’s a potential for up to 35% more sales. That’s about $95 billion in lost sales.
Mobile Optimization:
Mobile shopping sees the highest cart abandonment rates of all devices at about 85%.
Benefit: Seamlessly optimized mobile checkouts cater to consumers who require quick and easy one-click checkouts. Companies like Sleek focus on providing mobile-friendly seamless checkouts, even on app-native browsers.
Smooth Checkout
90% of surveyed users say smooth checkout is crucial - and even “make it or break it”. 91% of them said that a checkout experience significantly impacts if they will shop at the same merchant again.
Benefit: Any point of friction is going to be lethal – slow loading times, too many fields to fill out, etc. A seamless shopping experience on the checkout page is critical to ensuring that your online store "makes it". This could include offering multiple shipping options or multiple payment options too!
All of this is to say that an integrated checkout, one-click checkout, and frictionless checkout are all going to enhance the customer experience. Online shopping isn't new - but there are many new ways for you to easily provide a simple and fast checkout to all of your shoppers. Interested in learning more about how to give users an easy checkout? Contact us at hello@onsleek.com or request a demo!
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