Getting the checkout properly might mean the difference between a successful transaction and an abandoned cart. Leaders from Wayfair and SSENSE spoke on Sunday at the National Retail Federation's Big Show conference in New York City about how a great experience keeps things simple without losing security or stability. According to Ludovic Maire, head of product management at SSENSE, a digital fashion store, the company has focused on minimizing friction at checkout, reducing the average checkout time on its website by 70%. The differential has had a direct effect on conversion rates. "Checkout speed and performance is the actual customer experience for us," Maire explained during the event. By the time a consumer reaches the checkout page, they have completed a long customer journey and are ready to conclude it.
This produces one of the most sensitive CX touchpoints in a transaction, which retailers cannot afford to get wrong.
"They've browsed, they've considered, they've gotten our app out and tried to visualize it in their space," said Curtis Crawford, global director and general manager of finance and loyalty at Wayfair, a furniture company, during the presentation. "By the time you say, 'I think I'm ready' or even just want to explore affordability by the time you hit the checkout experience you just want it to be easy." According to Maire, one key part of the checkout experience is that it works consistently. Customers don't care if an app or website was unusually busy when it refused to accept their money. If the initial try fails or loads slowly, they may go away. SSENSE can process up to 2,000 orders per minute during significant product drops. The company offers a smooth experience by assembling a dedicated staff to ensure that even if one checkout component fails, more than 99% of orders may still be processed. Crawford also emphasizes the importance of checkout page structure and the availability of all payment choices. Customers who are picking between several options should not have to dig to locate the one that best meets their requirements. In the coming year, retailers must work hard to accommodate customer demand for convenient payment options across numerous channels. Keep up with the story. Subscribe to CX Dive's free daily newsletter. "There's so much innovation happening," Maire added. "How can we make sure that we provide a completely frictionless and completely personalized checkout experience, especially in the context where there is an explosion of payment methods?"
The world has changed since the start of the COVID-19 pandemic, and retail has become one of the most affected businesses, particularly at the point of sale.
While the crisis has caused enormous devastation for retail enterprises, their employees, and their families, it has also encouraged numerous retailers to finally embrace long-stalled digital transformation plans. In fact, some industry watchers claim that retailers' fights to address pandemic-era issues have "saved" their businesses by compelling them to make new technological investments. For example, established shops have struggled for decades to adapt to the ongoing move toward internet retail. However, the unexpected drop in foot traffic seen by shops in the spring of 2020 caused many of them to look for new ways to meet their consumers' demands using e-commerce tools such as purchasing applications. Inside stores, retailers implemented solutions that allowed customers to keep their distance from one another, such as electronic payment systems, touchless payments, and self-checkout. Another pandemic-era obstacle that prompted stores to innovate was staff shortages. Many employees were hesitant to work outside of their homes during the era before immunizations were available, and others were unwell, resulting in erratic staff schedules. Even with skeleton personnel, shops needed to maintain their shelves stocked and give exceptional customer service. Many businesses have used mobile devices to help store personnel be more effective and flexible in completing their work commitments.
As the pandemic enters its next phase, merchants must stay up with their competitors and fulfill changing customer expectations.
They continue to encounter inventory and order fulfillment issues while attempting to entice customers back to physical stores. Many businesses are wisely exploiting their physical locations to supplement their e-commerce offerings, utilizing their shop sites to aid with the "last mile" of delivery and returns for online orders. They are also putting in place new solutions to enable in-person shoppers obtain assistance, buy things, and check out. For example, some businesses are implementing virtual reality technologies to improve the customer experience, while mobile point-of-sale (mPOS) is becoming a more common method of providing just-in-time customer support. Customers now want shops to continuously deliver an outstanding experience across different platforms. Retailers may meet and surpass these expectations by consistently upgrading their checkout options. The checkout experience is a critical point of transformation for e-commerce businesses. If you are not already handling it that way, it is time to reconsider your stance. Here's why. Retailers have always understood the importance of being adaptable and sensitive to industry and customer developments. However, according to BCG experts, the pace of change over the previous decade has accelerated to a new level, requiring a total reset. These changes stem from both the coronavirus epidemic and technological improvements in e-commerce technology. The checkout experience has dramatically changed.
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