By Jack M. Germain
8/19/2021 4:00 AM PT
Online consumers have fingered what they think of ecommerce websites offering a bad experience. In exchange for a less satisfactory shopping experience, shoppers are leaving their digital shopping carts to show their displeasure.
Fast – a shopping and checkout platform for e-commerce sites – released survey results in June showing that consumers want a better online shopping process and are leaving their carts at record levels.
86 percent of more than 1,000 US shoppers aged 18 and over who responded to the June 2-4 survey said they put an item in their online shopping cart and then abandoned it before checking out.
Abandoned shopping carts could be the canary in the coal mine for ecommerce sites that are losing sales because they don’t provide online shoppers with an efficient shopping experience.
Analysts expect e-commerce sales to hit $ 930 billion this year. They also predict that 2022 will be the first trillion dollar year for online shopping.
However, the new Fast data found that consumers are reporting multiple obstacles leading to abandoned shopping carts. Aside from solving existing CX issues raised by consumers, e-tailers may find that new technology based on headless checkout makes it easier to provide their customers with a better shopping experience, says Allison Barr Allen, COO and Co-founder of Fast.
“By using a headless checkout solution, retailers can turn any digital screen into an opportunity to purchase products and interact with shoppers. The future opportunity created with headless checkout is untapped, ”she told the E-Commerce Times.
Makes shopping and paying easier
While exercising or attending a shopping event, consumers can easily buy the outfit the trainer is wearing or the products their favorite influencer is promoting. That’s what the headless checkout experience creates.
Fast’s headless ecommerce system is different from other payment methods for several reasons. Most payment methods today only appear on the shopping cart page after a buyer has put everything into the shopping cart. Usually these payment systems only process the payment.
Fast’s platform is a complete checkout solution that integrates with websites and e-commerce. This process instantly brings in shipping information to create a better end-to-end experience.
“We’re just beginning to build this data center repository and the much more granular shopping process over the Internet at a level that will help us deliver better and different e-commerce experiences over time,” said Allen.
In its simplest form, Fast offers the answer most expected by e-tailers. That is, how do you place a checkout button on any page on the website even if it’s not directly in the ecommerce store?
Without this new technology, retailers looking to set up a store will have to shop into a complete e-commerce platform or set up a website with third-party payment links. Fast is working on an ecommerce stack that will allow people to buy from other outlets on the internet and improve the funnel experience, she said.
To ensure that consumers enjoy a seamless and integrated customer experience across all shopping channels, the big players need to focus on an omnichannel approach, noted Jodie Kelley, CEO of the Electronic Transactions Association (ETA), in the discussion about online payments in general . This approach suits whether you are shopping online from a mobile device or laptop, or in a brick and mortar store.
“The old segments of looking at customers in an industry – physical store, home / online, and on your phone – are gone. Customers are now shopping through all three channels and need to be met where they are, “she told E -Handelszeiten. “The biggest challenges these players face is connecting all of these industries and having the right back-end technology.”
Unfulfilled promises fulfilled
For the past 10 years or more, click-to-buy advertising has had all of these promises. Display advertising began first. The developers all said that over time they would build a system that would allow consumers to click on an ad to buy that product in-store.
“In reality, nobody has succeeded in doing this, partly because of the problem we are solving. Merchants really need to have seamlessly integrated not only the payment information, but all order information, ”says Allen.
The first version is what Fast calls a headless checkout widget. The company places the widget code at participating shopping outlets on the Internet.
When a consumer clicks the “Buy” button, he or she has a full shopping cart experience on that website, Allen explained. The consumer sees more information about the item along with the payment information instead of being redirected to another website to add the purchase to the shopping cart and enter all of this information.
Essentially, Fast is trying to create an Amazon-like buying experience that people love on all of the websites on the internet. Fast says the integrated platform will make it seem like everything is there on the site.
“You click and buy. Shopping is done in one smooth, simple move. It’s the next step beyond what Amazon has put together, ”said Allen.
How it works
One of the unspoken truths about shopping on Amazon is the full-service experience, Allen noted. Amazon knows who you are. It contains your payment information. It has your address. You do not need to register. You are already logged in.
“To do this, we are integrating with the webshop to enable a quick checkout experience. The first time, click the” Buy “button. You will see an optimized checkout form in which you can enter your name, your e-mail Enter the address and your shipping information, and credit card number. After that, when you click on another item to purchase it, just hit the checkout button, “Allen explained.
First-time users provide Fast Checkout with their information once (see above) to save time and effort on future purchases (see below).
Fast’s specialists need about a day to integrate the software into the website of the acquiring business. Consumers can shop in the Fast Store and buy directly from partner retailers, who are already integrated into Fast’s own digital marketplace offering.
According to Allen, merchants who integrate fast shopping technology see an increase in total checkout conversion between 30 and 165 percent.
Similar to other ecommerce platforms, Fast Websites charges a transaction fee. Fast’s rate is 9 percent of sales plus 30 cents, she said. This fee varies by country.
“With that, we’re including a fraud chargeback guarantee that most other payment providers would charge a lot for,” she noted.
More from the survey
The lengthy checkout process that shoppers often face on ecommerce websites is part of what keeps shoppers coming back to Amazon, according to Fast when it announced the results of the consumer survey for abandoning digital shopping carts when they click encounter bad shopping experiences. Almost takes this opportunity with his headless checkout.
If a webshop doesn’t offer express shipping, more than three quarters (77 percent) of respondents said that the simple checkout process made them more inclined to buy something from Amazon.
Top reasons consumers cited for abandoning online purchases include:
- The checkout process took too long or was too complicated
- Didn’t want to create another online account (18 percent)
- Couldn’t remember their login information (15 percent)
- Their credit card information was not easily accessible (14 percent)
The Fast survey showed that if there was a faster, easier way to buy directly from the channel they learned about the product, such as online shopping, most shoppers (55 percent) would be more likely to buy online. or online review.
The survey found that influencers and consumer age groups play key roles in responding to online inconvenience and product choices. 72 percent of respondents said they were influenced to buy products due to media, advertising and social media consumption.
Millennials (ages 25 to 40) are 71 percent more likely to buy a product if there is an easier way to buy directly through those channels. This response was the highest of all age groups. Gen Zers (ages 18-24) are three times more likely than the baby boomer generation (ages 57-75) to shop online than in person.
Even in an e-commerce boom, many retailers are still struggling to deliver amazing checkout experiences. Fast vice president of partnerships, Calanthia Mei, says sellers spend a lot of resources reaching buyers on social media or digital advertising only to lose them to cumbersome checkout options.
“Buyers clearly want a better checkout experience. Smart salespeople don’t just use one-click checkout. They make it lightning fast wherever their customers are with headless checkout, ”she told the E-Commerce Times.