The Rapid Checkout Influence on D2C Brands:
Checkout speed is important in ecommerce for several reasons, particularly in India - because we are many things, but not patient. Rapid checkout systems can also enhance E-commerce Abandoned Cart Recovery.
And the statistics prove that…
- 59% of online shoppers in India expect a page to load in 3 seconds or less, and 53% of shoppers will abandon a website if it takes more than 3 seconds to load.
- 81% of Gen Z shoppers say they are more inclined to make a repeat purchase if they see auto-population and multi-payment options.
- 35% more customers were retained by rapid checkout brands (less than 15 seconds), compared to traditional checkouts (more than 60 seconds)
What do we target with a Rapid Checkout System?
- Gain users’ trust
Our autofill data is gathered from 450+ brands.
Meaning, the online buyer will know the auto-population is from a previous purchase from a past trusted purchase,
And they are also relieved as they avoid the hassle of re-entering address, payment, and other information
- Checkout Engagement Rate
The percentage of online customers who begin the checkout process once they visit their cart is referred to as the Checkout Engagement Rate (CER). The CER is another way of looking at the CAR (Checkout Abandonment Rate) because it helps you evaluate how effective your checkout is Reduce Ecommerce Abandoned Checkout.
The CER is another way of looking at the CAR (Checkout Abandonment Rate) because it helps you evaluate how effective your checkout is.
Formula to calculate CER:
Number of sessions that began checkout / Number of visits that included the cart page
- Checkout Conversion Rate
D2C brands can figure out the percentage of their online shoppers who complete their checkout process from start to finish to get your Checkout Conversion Rate (CCR).
These are the online customers who complete a checkout without moving back and forth between platforms/website pages.
Formula to calculate CCR:
Number of sessions that completed checkout / Number of sessions that began checkout
- Mobile Abandonment Gap
The Mobile Abandonment Gap (MAG) shows the contrast between CAR for mobile devices and desktop computers. With 89% of all online purchases made on mobile devices, it is important for brands to keep an eye on mobile success rate, and optimise if necessary Solving Ecommerce Checkout Problems.
With 89% of all online purchases made on mobile devices, it is important for brands to keep an eye on mobile success rate, and optimise if necessary.
Formula to calculate MAG:
Mobile CAR - Desktop CAR.
- Effectively reduce hassle the number of form fields
- Reduce the number of form field
- Limit the number of steps
- Enable instant transaction
Like we do with our 1Checkout…
Where we use the data from 450+ brands, and our partnership with Truecaller helps too.
All in all, 1Checkout offers -
- Auto-population
- OTP-less Authentication
- Under 5 second Checkouts, and
- All major payment modes (BNPL, UPI, Wallets, Net banking, Cards etc - across 60+ banks)
While reducing drop-offs by >45%
OTPless lifetime deal
How about a special offer where you can get your users to use the checkout stage without requiring a one-time password (OTP) for authentication, and the deal is valid for a lifetime.
OTPless indicates that the user does not need to provide a one-time password (OTP) or undergo additional authentication steps each time they access the product or service. This can streamline the user experience and eliminate the need for repeated authentication, enhancing convenience.
Moreover the offer or agreement provides access to the product or service for an indefinite period, typically for the lifetime of the product or service. This means that users can continue to access and use the product or service without any additional recurring payments or subscription fees.
Overall, an "OTPless lifetime deal" can offer your users the benefit of checking out without the hassle of OTP authentication and ensures continuous access for a lifetime without the need for recurring payments.
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