Do you have an eCommerce store? Then you don’t want to miss this. We’ve just launched the Checkout Conversion Index™ (CCI) that will change the way you do business (for the better). Did you know that online merchants lose as much as 36% of sales due to online checkout friction? That’s a lot of lost cash! Don’t miss those sales – use the CCI to become a checkout expert.
Ecommerce is expected to hit $349 billion in the U.S. and $1.67 trillion globally in 2015. How are you going to get the slice of that pie if you sell online? Reducing checkout friction has become one of the most important things to consider when creating an online store. Digital commerce and the influence of connected devices are changing the way consumers shop and pay – making it easier for them to buy online can help you save sales and customer relationships.
So what actually gets in the way of converting shoppers to buyers? What can you do to recapture those lost sales? The CCI reveals the website attributes that are most responsible for creating problems during the shopping process and measures the friction that they cause. Having shopped over 650 U.S.-based eCommerce sites of all sizes across 14 merchant categories (who account for over 70% of all U.S. eCommerce spend), the CCI was able to identify over 50 attributes that were used to score merchants on how easy (or hard) it was going from discovery to checkout on their site.
In the first of two releases, this CCI focuses on the abandonment before payment is complete (aka what happens before the shopper clicks buy). The next release will focus on what prevents shoppers from completing a purchase after payment initiation.