The secret to reducing abandoned carts? Create a frictionless checkout experience.
Let’s face it, Amazon has forever raised the bar when it comes to customers’ expectations at the mobile app checkout and payment stage. The giant retailer/technology company has made it so simple that all a shopper has to do is turn on the 1-click ordering settings, allowing them to order automatically and skip the shopping cart. Outside of the Amazon bubble, however, is a different story.
We know shoppers long for faster transactions once they fill their mobile shopping carts, but there are barriers from making that happen. In fact, it is estimated that 69% of all online carts are abandoned, with 95% of those at the payment stage. Why? Outside of high shipping costs and taxes, the main reasons have to do with long, complicated checkout processes.
How can this be prevented? What can retailers do to provide a seamless mobile app checkout experience?
Today’s mobile apps have features that can overcome cart abandonment challenges, giving time back to shoppers so they do not have to re-enter their information for every purchase or re-fill the carts from a previous browsing session. Let’s take a look:
Stored Credit Card Information
Mobile apps should allow shoppers to store their personal and payment information in devices, allowing the app to quickly access customer log-in info as well as their payment details. This not only helps retailers convert more sales, but also gives customers more reasons to come back for more by reducing the number of clicks and the amount of information required to complete a purchase. PayPal is the most popular and widely-used digital wallet for shoppers, boasting a 70% higher checkout conversion than other forms of payment. Other options, of course, include the digital wallets that smartphones now offer shoppers, including Apple Pay, Android Pay, and Samsung Pay. The takeaway – all options make it easier than ever for consumers to make a purchase on the mobile app without repetitive entry.
Seamless Shopping Experiences
What if a mobile shopping app customer decided to abandon their cart, only temporarily, with plans to come back in a few days to finish the purchase? A mobile app should give the ability for consumers to save items added to their cart, allowing them to go back at a later date to purchase. What’s more, retailers should also give customers the option to begin their shopping journey on their mobile phones, transition to desktop to finalize the purchases that are in their saved carts, and pick-up in the store. After all, we know that today’s shopper does not think of these touchpoints as channels. They expect their shopping history and transaction to easily flow from digital to physical channels to facilitate the shopping experience and seamlessly receive their purchased product.
Time is of the essence for today’s consumers, so they will naturally gravitate to a shopping experience that provides an elevated level of convenience and simplicity. At Shopgate, we help our global customers lift revenue and drive customer retention everyday through convenient mobile app payment processes. Learn more by scheduling a demo here.