Introduction
Everyone claims their product is the best, so when we say “Shopify has the best checkout process in the world,” why should you believe us?
That’s why we partnered with one of the top three global consulting firms, provided them with all our data, and asked them to study the checkout processes of major ecommerce platforms worldwide, committing to publish the report’s findings regardless of the outcome.
After months of independent study, this leading global management consulting firm found that Shopify’s overall conversion rate outperformed the competition by up to 36%, with an average of 15%.
Identity Network
The future of commerce relies on identity, and digital wallets are the means.
More and more brands are recognizing the benefits of conversion by removing friction and reducing the overall steps required in the checkout process, and no digital wallet does this better than Shop Pay, thanks to its massive identity network.
Over 100 million high-intent, high-value buyers are already in the one-click payment service with Shop Pay. It is the most recognizable and trusted digital wallet on Shopify.
When a potential customer with a Shop Pay account arrives at a store, Shopify can recognize them with a single click. During the checkout process, it can even recognize the majority of customers without any user intervention if they recently used Shop Pay. This allows Shop Pay to autofill customer information for a seamless one-click checkout process, translating to a checkout time that is four times faster than guest checkout.
“Brands that provide personalized experiences for their customers, including a trusted and familiar checkout process, are able to remove some friction from the purchase journey to ensure higher conversion. Shop Pay is the perfect solution for these retailers and a proven way to increase conversion.” – Travis Hess, Executive Vice President of Direct Retail at The Stable, part of Accenture Song
The massive identity network and ease of use and scalability of Shop Pay translate to increased buyer conversion rates of up to 50% compared to guest checkout.
Consumer Trust
Hundreds of millions of people use Shopify Payments each year. The look, feel, and flow of our checkout process have become widely recognized and, therefore, trusted instantly.
But Shopify Payments is not just a familiar experience, it is a delightful one. It is seamless, fast, and straightforward – not to mention filled with the options consumers expect such as discounts, gift cards, local delivery and pickup promises, tax and fee calculations, and post-purchase offers, among others. Making something appear this simple is, in fact, a very complex task. The seamless Shopify payments experience is a byproduct of many advanced features working together in perfect harmony, uniquely supporting the needs and logic of each business.
Consumers know, trust, and love Shopify. It’s no wonder its conversion rate beats the competition by up to 36%.
“Our customer experience is the most important thing for us. They need to trust our checkout process as much as they trust our products – and recognize the purchase path with greater ease than recognizing our brand.” – Kayla Robinson, Vice President, Digital Product, Spanx
Innovation
At Shopify, we have more engineers solely focused on making the checkout process high-converting and superior than some other companies that are working on entire commerce solutions.
Building on our platform ensures that you are always on the cutting edge of payment technology.
But checkout is not a walled garden – what makes it innovative is that it enables you to innovate.
Shopify provides all core components of the checkout process while allowing brands to customize them to meet their needs. You can mix and match solutions like custom code written in custom applications and no-code configurable apps for your Shopify store to reduce total cost of ownership, increase speed to market, and adapt to rapidly changing buyer demands. This is the power of checkout scalability.
But
It doesn’t stop there. The scalability of the payment process is perfectly compatible with Shop Pay, making it the only fully customizable one-click process. You can customize the look and feel of Shop Pay and add functionality either through click-and-configure apps or by building custom applications for your customizations.
We have been working on our payment process for nearly two decades and have learned a lot. When 10% of all e-commerce orders in the United States are processed through the platform, there are cumulative benefits and improved efficiencies that everyone on the platform can take advantage of.
Conclusion
This study confirms what we already know – that Shopify’s payment process is the best payment process in the world.
If you haven’t used the best payment process in the world, number 1? Contact sales now.
Source: https://www.shopify.com/ca/enterprise/shopify-checkout
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