New Research by Shopify and BCG Analyzes 1 Billion Data Points Across 220,000+ E-Commerce Sites to Identify Key Drivers for Converting Online Shoppers into Online Buyers
Seller Can Directly Influence Six Major Areas of Conversion Optimization: Traffic Source, Basket Building, Checkout Experience, Payments, Customization, and Performance Customizations across the Conversion Funnel Can Have Varying Impacts, Though Shopify and BCG Find That Offering a Loyalty Program Can Increase Lower Funnel Conversion 4-6%In North America, Offering Use of Accelerated Payment Methods Can Increase Lower Funnel Conversion Rates by Upward of 50%BOSTON—The COVID-19 pandemic forced commerce of all kinds to digital platforms, but online shopping activity today remains well above its pre-pandemic levels. Customers now expect a seamless, tailored shopping experience across channels and devices, including a wide range of merchandise, convenient access to details or instructions, customer-friendly return policies, and quick and frictionless payment processes.