Matt Parkinson is the CEO of GENE Commerce, an agency that offers eCommerce brands and retailers long-term strategic planning and technical build support. GENE’s proprietary Page Builder and content management system tool, BlueFoot, was acquired by Magento in 2016, and the company is also responsible for PayPal’s Braintree extension on the Magento platform. This post is an excerpt from Mobile Optimization Initiative: Switching Retailers Onto Checkoutless Commerce, published on the Magento blog.
As consumers become accustomed to frictionless mobile experiences (think Airbnb, Uber, et al) they expect the same type of experience when online shopping. Typing in payment details or completing lengthy forms has become a point of frustration — one that will drive customers to abandon a purchase. New mobile payment solutions are necessary.
Visitors on mobile devices account for the majority of eCommerce traffic— 71 percent of all visits in the UK are from a mobile device, according to IMRG — but purchase numbers aren’t reflecting that. Gene is working with their clients through their involvement in the Mobile eCommerce Optimization Initiative, to find new strategies to speed up and simplify the buying process to help encourage mobile conversions.
The Checkoutless Commerce Experience
The results from several experiments from the Mobile eCommerce Optimization Initiative have demonstrated that simplifying the mobile checkout process almost always yields a boost in RPV.
Integrating mobile payment solutions such as digital wallets like PayPal Checkout, Amazon Pay, Apple Pay, and Google Pay on product and basket pages eliminates the need for shoppers to enter their details before making a purchase. In fact, this checkoutless process can reduce the average number of touches needed to complete a mobile transaction from eighty to two.
GENE examined adoption rates of the most popular mobile digital wallets and the resulting customer experience, as well as the mobile websites of the top 250 UK eCommerce merchants. The results were telling a lack of digital wallet options:
- 70% of merchants do not yet offer the means to pay before the conventional checkout
- Of those that do, 84% offer Paypal Checkout and 26% offer Amazon Pay
Examining digital wallet payment options at any stage of the purchase process (including conventional checkout), the numbers were no more encouraging:
- 86% offered Paypal, but only 29% had correctly implemented Paypal Checkout functionality
- 54% of brands offered only one of the four major wallets
- 24% offered two digital wallet options
- 33% had no digital wallet payment options at all
Simple quick mobile payment options won’t detract from the customer journey if implemented correctly. In fact, a streamlined purchase process can encourage impulse buys, increase conversions, and — using the right technology — enhance security and consumer confidence.
Convenience is the new commodity online and checkoutless commerce is an integral part of this