Speed and choice have only become more sought-after from customers as it pertains to their shopping experience. Consumers want to shop their way, pay their way, and get products their way, and they want it all to be easy and quick. When it’s not, brands are the ones paying for it.
And nothing may be more painful for brands than a checkout experience costing them a sale. When the checkout is not the way consumers want it, they abandon their cart and go to another brand where they can get what they’re looking for. Consumers may take a while to research and decide to buy, but when they do, they want to do it immediately and without hassle.
Shop Pay and Simplified Checkouts
The standard is now for brands to offer payment options through the likes of PayPal, ApplePay and other e-wallets, and tools like Shop Pay. In addition to providing variety and preferences, each of those has something in common. They make the actual act of checking out on a site orders of magnitude faster and easier.
Whether you’re connecting to your wallet, PayPal, or Shop Pay, one of the major benefits is that your information is already saved and ready to go. Customers largely don’t want to have to enter their credit card and billing information each time they make a purchase. Doing so results in tedious seconds that add up when you think of all the purchases made over the course of a week, month, and year. It also offers more time for customers to consider whether they really want the purchase or if the timing is right.
So the first advice is that if you’re not currently providing your customers with checkout options like what we mentioned above, you should start. It not only keeps them happier, but in turn will benefit your overall sales.
The next advice is that if you’re on Shopify (and really, even if you’re not) Shop Pay should be a consideration. Thirty percent or more of buyers use Shop Pay at checkout and it can increase conversion rates by up to 50% versus a guest checkout.
The ability to store and encrypt customer data inside the platform leads to much greater speeds (with one-tap checkout). Not to mention it is optimized for mobile to support consumers wherever they may be.
Calculate Your ROI
You might already be trying the math out in your head. How much extra revenue and savings are you generating if Shop Pay can increase your conversion rate and order value? We have an answer for that.
We have built a Shop Pay ROI calculator to show you both what the positive impact could be immediately and also over the next three years.
Test the calculator out for yourself. And if you want to learn more about Shop Pay and how we can help you quickly and seamlessly implement it into your ecommerce platform, check out our Shop Pay landing page.
