Consumers Expect Simpler Checkout Processes
June 5, 2024
As younger generations start participating in the payments world, expert insights and surveys show shoppers continually expect checkout experiences to get more simple.
PYMNTS’ report “What’s Next in Payments: Payments Modernization,” worked with 15 industry executives to determine the necessity of bringing payments up to date.
According to Justin Downey, vice president of product at Maverick payments, frictionless checkout experiences are key to positive consumer experience, and therefore a more “streamlined checkout approach” should be a heavy focus.
A previous study by PYMNTS in collaboration with Adobe titled “The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces,” showed that 50% choose where they’ll shop based on the ease of checkout of that particular merchant.
Anything that makes processes quicker and easier with less obstacles for customers, that’s where the excitement is.
Retailers are aware of this, and as a result, innovating in this area. Adidas is one such example; director of digital payments at Adidas, Mario Ivanovic, told PYMTS in a previous interview that the brand is looking to simplify their checkout experience nothing online and in stores, using methods such as offering mobile payment methods like ApplePay, GooglePay, and WeChat pay in addition to giving an option of using PayPal in-store.
For us, it’s members first, one-click checkout, especially for the young generations that do everything with their mobile,”
Other reports have shown consumers will consider shopping again with a merchant based on how satisfying their checkout experience is, making it important for brand loyalty.
However, a shorter path is not always the best. According to Sean Knotts, director of global E-commerce at Sonos, user testing shows that moving from a “very ubiquitous single-page checkout flow” to a three-step process, was 4% easier for users to navigate, and it really helped users understand that the company takes great care of their high value purchases.
To adapt and innovate are key factors when it comes to brand success. Consumer expectations are constantly evolving and improving the checkout experience can lead to great outcomes for merchants everywhere. One size fits all is not the case with payments, and different retailers definitely need different approaches, however, reducing friction is a must.
Want to learn more? Check out PYMNT’s full write-up here.
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