The checkout page is arguably one of the most important elements of an eCommerce site. It is best compared to a road that leads a shopper to complete his/her journey at your site.
If the road is too long and difficult – your customers will possibly abandon it in the middle or after the first few steps. While if it’s comfortable enough, well maintained and provides additional support all along – it will lead to a purchase.
Last but not least – the quality of the checkout will increase customers’ satisfaction and their intention to return to your store again and again.
Needless to say, the cart abandonment rate is one of the core metrics in eCommerce. Some research reveals that almost 70% of potential customers abandon their carts and never return.
There are countless reasons to explain this behavior.
Not all of them are directly related to the performance of the e-store, let alone can be attributed to the specific problem of the checkout process. However, billions of euros in lost revenues and thousands of disappointed or frustrated customers give ample incentives to address it right away. The long and clunky checkout page is one of the easiest fixes to complete.
One-Page checkout is a straightforward answer.
Key Benefits of Having Single-page Checkout
#1. Increased conversion rate
Needless to say, customers love to complete filling all of the required data within a single checkout page. The faster it goes – the more chances they’ll complete it.
Getelastic A/B tested the single-page checkout against their traditional checkout procedure. The results were astonishing: sales almost immediately jumped by 21.8%.
#2. Reduced cart abandonment rates
Could faster checkout be an answer to reducing cart abandonment rates? According to the Baymard Institute, the reason for 23% of the abandoned carts is a long and complicated checkout.
Customers spend 1 minute and 40 seconds to complete a multiple page checkout on average. When it comes to grabbing customers’ attention – every second count, the more time we give them to reconsider – the more chances they do. The failure to make this purchase doesn’t mean your customers are considering whether they need selected items or not. They may like to explore other options. And other stores are out there…
Needless to say, 1 minute and 40 seconds is a long time to spare. Would you be happy to spend nearly 2 minutes to complete the checkout yourself?
A single page checkout outperforms multi-page one. The average single page checkout lasts just 53 seconds. And this is the answer to why single page checkout results in a 20% reduction in cart abandonment rate.
#3. Better site performance
Mobile continues to grow its share as the customers preferred channel to shop. Last year 79% of customers have made a purchase using their mobile devices. Which is the reason why optimization of your online store for mobile devices in both visual appearance and simplification of procedures works. Cutting the number of excess steps and pages is always a good way to start. Check the example below by Barrilance.
A single page checkout wouldn’t fix the matter alone, but the loading speed of a single page would drastically cut down the time required to checkout.
#4. Increased customer satisfaction
In the hyper-competitive business environment of global eCommerce, customer satisfaction and user experience are some of your most important tools to improve your customers’ loyalty.
Do it right and you convert your customers into devoted brand ambassadors. Fail it – and there are always hundreds of competitors waiting to take them over.
Remember: the times when your corner store was the only one in town is long gone!
Simple checkouts have proven to deliver amazing results. This is why Aliexpress and other major retailers have opted for faster, or even single-click checkout solutions.
If you haven’t tested a single-page checkout yet, it may take courage to give them a try. Perhaps it would be a good idea to discuss it with experienced solution providers before making the first step.