You may be aware that the cart abandonment rate is high, but just how high?
Surveys point out that 70% of online customers may abandon your website during the checkout process! It’s one of the key reasons why a store’s conversion rate decreases.
Although the cart abandonment rate is high, it also indicatess that there’s a lot of space for improvement for a better conversion rate.
When it comes to checkout optimization for your eCommerce website/app, you can always improve and create a seamless process. This is among the best approaches for a better conversion rate.
Buyers are now more inclined towards fast and easy checkout, especially when they shop on online stores. The Elastic Path A/B test showcased that the one-page checkout conversion surpassed the traditional one by more than 21%.
To increase conversion rates and boost your sales, a great solution is to offer one-page checkout on your Magento store.
One-Page Checkout vs Multi-Step Checkout
A few years ago, most online customers were familiar only with the multi-page checkout process, which was time-consuming.
Today, with the range of online stores and advanced technology, e-commerce website owners are working to make online shopping as easy as possible. This is where one-page checkout comes in.
Of course, some eCommerce websites still prefer multi-page checkout.
From the business’s perspective, there are advantages when applying the multi-pages checkout. This type of checkout allows businesses to collect customer data, thus they can work to deliver better content for customization marketing.
On the other hand, seeing various pages to go can be quite discouraging. If customers find that there are multiple pages involved in the checkout process, they will feel like there’s no end in sight.
Consequently, multi-page-checkout may lead to many drop-offs.
One-page checkout is now a popular payment process preferred by customers, especially for those that shop on their phones. The easier the checkout is, the more you can make them buy. Another advantage is that customers don’t have to wait for pages to load with one-page checkout, preventing the frustration of time-consuming and sluggish loading.
If your eCommerce website/app is failing to fully complete many transactions and you need checkout conversion, consider providing one-page checkout. It is one of the most effective lead generation strategies. The complete checkout process appears on a single page, requiring only essential information (e.g name, address, phone, card number, …), will provide a smooth purchase. The satisfying shopping experience will also help you increase checkout conversions while encouraging customers to visit again.
Good examples of One-Page Checkout
The first example is from ASOS’s checkout page.
The page is neat, with steps clearly divided, and they will appear respectively after each step is filled. Thanks to this, customers aren’t confused by how far they’ve progressed, and can easily see what’s left to be filled in. It’s a user-friendly checkout page and also looks really smooth on mobile devices as well.
Another example is the checkout process of Nike.
As you can see, all the fields are displayed on a single page, and the product review is located on the right side. This does not only allows the user to fill in their details quickly, but they can also check their cart again at the same time with the total price. This type of checkout p[age leaves no room for confusion, and is suitable with young users, who are the main customer group of Nike.
Advantage of One-Page Checkout
One-page checkout provides your customers with a fast and easy way to purchase online. The whole point is to get the users to the checkout painlessly without having to load different pages or becoming overwhelmed by multiple steps.
Here are some reasons why you should invest in one-page checkout:
1. Faster Checkout
Online customers don’t like to wait while they make the final payment; they also want the checkout process to be streamlined and fast. If it’s not, they are more likely to abandon their cart without buying anything. Being an aspiring online retailer, you don’t want this to happen.
Luckily, a quick checkout option is available with one-step checkout software which reduces the time required to fill all the personal information while purchasing online.
When online customers see that their checkout experience will be concluded on just one page the chance that they make the transaction will be higher. According to Baymard, an ideal checkout flow can be as short as 12-14 form elements.
2. Easy-to-Understand Interface
A one-page checkout process is user-friendly.
With a limited number of input fields and steps, the page remains clear and easy to go through. Moreover, quick checkout prevents confusion because online buyers see at once what information they are required to provide. Also, they can easily change their details right on the checkout page, without having to go back and forth like with the multi-step process.
With one-page checkout, you don’t need to worry about whether your navigation is confusing website visitors. Customers can easily navigate through the checkout process and fill in the required elements.
3. Enhanced Page Performance
Rather than waiting for the loading of pages, customers get a simple page to fill and make the payment. The page loading time can become an obstacle for the user’s shopping experience, not to mention if the connection is lost halfway, then big chance that the person will have to restart the whole process.
With one-page checkout, there is no wait time, simply fill in the details, press submits, and all is done.
4. Increase Customer Satisfaction
Customer satisfaction is a vital element that you want your online store to deliver.
One-page checkout process helps you provide a hassle-free experience to the customers.
Everything is managed by a single page checkout to deliver an overall amazing UX.
If you want to increase the conversion rates of your online store, you must choose the one-page checkout process. You can easily add a quick checkout option to your existing online store based on the platform you are using. Yes, all you need to do is to update your eCommerce website with an extension or plugins available to deliver a fast shopping experience.
The checkout page is one of the most important sections of your online store where you have the opportunity to turn abandoned carts into successful sales.
Whether you use Magento or any other eCommerce platform, make sure to provide a user-friendly checkout page. Moreover, it needs to serve your strategy, whether it’s to offer a quick shopping experience, to collect data, or to track the sale tunnel results.
One-page checkout is a results-driven strategy which is widely preferred by many Magento store owners, especially those who target mobile users as their potential customers. You can try out different strategies in your process to assure a distraction-free checkout for your valuable customers.
Magento 2 has a one-page checkout function enabled by default. Also, there are a number of extensions that can be integrated to optimize your checkout page like the ones provided by Amasty, Mageplaza, Bsscommere, One Step Checkout AS, …