Customers demand speed and convenience from their shopping experience. The standards set by the likes of Amazon are becoming the expected norm, and merchants need to ensure their customer experience is slick to make sure they consistently convert customers and keep them coming back for more.
The digital revolution has delivered a 24/7 world where consumers can buy from anywhere at any time. It’s created a quick fix mentality where, faced with friction, shoppers quickly become frustrated and will simply ditch their basket and move to another site.
Want to know if this is affecting you? Just look at your bounce rate. If it’s high, there’s likely something in your site’s architecture, performance or checkout that’s turning them off. In many cases, it’s the time and effort they have to put in.
Modern shoppers are easily distracted
Mobile and social have upped the stakes when it comes to setting super-fast expectations. According to a study by Microsoft, the average attention span is now only 8 secs, that’s a third less than it was in 2000. This means you have a very short window to hook a customer and complete the sale.
But there’s an upside for retailers too. Mobile shoppers are often more spontaneous than those buying on laptops or in-store, where purchases tend to be more considered. Similarly, socially-driven Millennials and Gen Z are often fuelled by FOMO, so they tend to ‘see it, want it, buy it now.’
How can retailers make sure that they boost and not roadblock demand?
The key to high conversion is ensuring that e-checkouts are as seamless and effortless as possible. One of the biggest issues for e-retailers is filling their basket only to abandon them at the payment page.
Some studies show dropout to be as high as 80% – and it’s even higher for mobile. Over a third of sales (35%) are lost because the website required the user to create an account before checkout. And 61% of shoppers report leaving a transaction due to an extra cost.
What can e-retailers learn from the ‘big-boys’ like Amazon who propel super-fast spending
It’s all about making it easy to search, find and, most importantly, to buy. And that means having a minimal effort checkout with just the right amount of personalisation and choice for your shoppers.
Here are some ‘must haves’ to optimise your site for the ‘buy it now’ brigade:
- Include one-click purchase for repeat purchasers – even on mobile.
- Use pre-filled forms to personalise the experience and minimise keystrokes.
- If you require users to create an account, offer an incentive or access to loyalty programmes and make sure you also have a ‘guest’ purchase option for those that don’t want to.
- Provide payment choice. Many Millennials and Gen Z buyers are looking for alternatives to traditional credit and debit cards, e.g. WeChatPay. Online buyers worried about security may also prefer prepaid formats such as Paysafe Card.
- Ensure that any shipping costs and delivery timeframes are clearly displayed before payment, so there are no last-minute surprises. Otherwise, you could end up facing an increase in customer returns as well as more disputes and chargebacks.
Personalise the user experience by serving relevant content, or targeting key messages in the funnel, based on your customer’s e-commerce activities and behaviour.
Make sure expectations measure up
There’s no doubt that modern consumers want e-commerce to be fast, flexible and fun. Get it right, and the benefits are loyal fans and higher customer lifetime value, lower acquisition costs and increased conversion. But get customer expectations wrong, and you can not only lose a potential buyer but face a litany of bad reviews that can erode reputation and sales.
At TrustPay, we have over a decade of expertise in helping e-commerce businesses optimise their websites and mobile apps for convenience-focused shoppers.