Reducing Abandoned Checkouts Through 2-Step Checkout
According to Statista, data recorded in December 2020, 69.8% of digital shopping carts and baskets were abandoned without completing the purchase.
This means that out of everyone that adds something to their cart on a Shopify store, almost ¾ of these shoppers will leave the site without completing a purchase.
This remains true even with shopping holidays like Black Friday or Cyber Monday. In 2020, global cart abandonment on Black Friday reached 77.79%, while Cyber Monday saw cart abandonment rates of around 80.69%.
Shopping cart abandonment currently causes eCommerce brands to lose a staggering $18 Billion in yearly sales revenue, according to Forrester research. Cart abandonment has become a burning issue that eCommerce organizations can no longer afford to ignore.
Whatever products you decide to sell, the most crucial element of your business is the checkout process. If it takes too long, people will get bored and leave especially if it’s an impulse buy.
Almost six in ten women surveyed worldwide said they mainly bought clothes or shoes online on impulse. For men, electronics were the most common impulse purchase via the internet.
Fortunately, Shopify has a neat checkout process that only requires 3 steps to complete the payment method.
And yet, even Shopify merchants are susceptible to Abandoned Carts at checkout.
What we Shopify Plus Experts and Shopify Plus Developers in Singapore have come to notice is that the fewer the step to checkout, the better it is for conversions.
So, Could you optimize this checkout process further?
The Answer: Yes, through Shopify Plus.
The native Shopify checkout process includes 3 steps — Information > Shipping > Payment.
What we as Shopify Plus Experts and Shopify Plus Developers in Singapore suggest to a Shopify Plus merchant is that the checkout process is reduced to just 2 steps — Information > Payment.
What’s more, through the help of us Shopify Plus experts and Shopify Plus developers, we can convert this 3 step process to just a single-step process for your customers to jump directly to the Payment process. Thus promoting an impulse buy and reducing the time spent by the customer trying to figure out how to make the purchase.
As per Statista, during the third quarter of 2020, 2.17 percent of global e-commerce website visits were converted into purchases, down from 2.25 percent during the preceding quarter. In the United States, online shopper conversion rates amounted to 2.57 percent.
In trying to keep up with abandoned cart issues, it’s always a good idea to consider changing the checkout process to be more in tune with giving the customer the best experience possible. Remember that all details such as delivery information must be saved correctly to skip this process. You don’t want the customer placing the order which ends up getting delivered to the wrong address!
The 2-Step or 1-Step checkout process really does save time for the customer during payments and makes sure that the chance of an Abandoned Cart is reduced considerably.
Speaking to a Shopify Plus expert or a Shopify Plus developer in Singapore helps give you a better idea of how to get your conversions done successfully by shifting to a 2-Step checkout process. Or you can hire a Shopify Plus agency in Singapore or any part of the world to leverage the true potential you deserve — more customers and more sales!