October 20, 2021

Increase online purchasing


Frictionless transactions are essential for on-line shops looking to increase their conversion rate from basket to checkout. Current averaged shopping cart abandonment rate across all industries and among different researches is 69.8%. Reducing the barriers to a complete checkout is essential to increase sales. This is achieved through processes such as one-click shopping, where customer details are stored to allow a speedier buying process. The reduced time prevents any second thoughts on the customer’s part, meaning that businesses can increase their conversion rates. But quicker shopping processes increase the potential for fraud and abuse. Businesses may use checks, such as a captcha, to ensure that customers are legitimate. This is another barrier to a complete checkout that genuine customers may struggle with. To avoid this, commerce protection platforms such as Signifyd are optimizing the transaction experience. Intelligent and automated modules can accurately identify risks of fraud and abuse, stopping them in their tracks, while customers get to enjoy a streamlined order fulfillment process. On-line shopping became much more popular. In 2015, on-line transactions accounted for 7.4% of all retail sales. By 2020, this figure had leapt to 18%. But being unable to view or experience a product before purchasing may prevent try-before-you-buy shoppers from visiting on-line stores. Some stores consider POS lending or Buy Now, Pay Later services as the solution to attracting these customers. As of February 2021, mobile activity made up 56% of all on-line traffic. Mobile searches equate to 60% of all on-line searches. It’s clear that mobiles are the most convenient and preferred way to view information on-line. However, the e-commerce conversion rate on mobile devices is only 2.25%. While, desktop conversion rates stand at 4.81%. This may be because businesses have not optimized their on-line checkout for mobile devices. E-commerce businesses must improve the customer experience on mobile devices, understanding how it differentiates from desktop buying. Businesses should be proactive in fraud prevention, user experience, and diversifying payment options to create an easy and enjoyable customer experience.


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