Revolutionizing E-Commerce: BigCommerce’s Checkout Features Redefine Conversion Success

In the dynamic realm of digital commerce, the journey from enticing a potential customer to securing a sale is a complex equation. While traditional growth metrics have long emphasized traffic and revenue, the evolving landscape necessitates a closer look at the linchpin of online success: conversion rates. BigCommerce, a leading player in the e-commerce platform arena, commissioned a groundbreaking study to delve into the heart of this matter. The findings? Nothing short of a revelation.

The Frictionless Checkout Imperative

In July 2023, BigCommerce embarked on an independent assessment of conversion data across its Enterprise Commerce Platform. The focus was clear: unravel the complexities of the modern conversion funnel, dissecting the impact of each step from customer acquisition to the final purchase. The emphasis was not just on driving volume but on a more nuanced approach — optimization.

As the cost of traffic acquisition continues to rise, the report underscores the critical role of conversion rates in driving revenue growth. It’s no longer just about attracting eyeballs; it’s about turning online traffic into paying customers. The report zooms in on two pivotal conversion points: Checkout Conversion Rate and Visit Conversion Rate.

Checkout Conversion Rate: A Testament to Seamless Experiences

The Checkout Conversion Rate measures the effectiveness of the final steps in the online shopping journey. It unveils how a frictionless, one-step checkout experience, coupled with diverse, secure, and convenient payment methods, significantly influences customer decision-making and order completion.

The study, covering two months of transaction data from May to June 2023, involved over 2,200 merchants, 190 million visits, and 6.5 million checkout journeys. The data was meticulously segmented into three cohorts, each representing a unique combination of card processors/payment gateways and payment methods.

The standout revelation was the positive correlation between the inclusion of advanced payment options and an increase in the Checkout Conversion Rate. Moving from Cohort 1 (no alternative payment methods) to Cohort 3 (offering both PayPal Wallet and Apple Pay), there was a notable 17 percent increase in the Checkout Conversion Rate. The data speaks volumes, emphasizing the pivotal role that secure, user-friendly, and diverse payment methods play in facilitating the final purchasing decision.

Visit Conversion Rate: BigCommerce’s Flagship Configuration Shines

The Visit Conversion Rate, a metric for measuring an online store’s effectiveness in transforming site visits into actual orders, stood out as a beacon of success. Compared to an industry benchmark, BigCommerce’s Flagship Checkout Configuration outperformed the market average by a considerable 20 percent.

This robust performance underscores the influential role of BigCommerce’s native checkout capabilities and the integration of diverse, user-friendly payment methods in enhancing overall visitor-to-customer conversion performance. It’s not just about the final checkout process; it’s about crafting an entire online journey that captivates and converts.

A Path Towards Increased Conversion: Embracing Frictionless Experiences

In an era where customer acquisition costs are soaring, a frictionless checkout experience has become central to improving conversion rates. BigCommerce’s native checkout experience, featuring capabilities like one-page checkout, serves as a strong foundation for merchants to build upon.

The addition of alternative payment methods, such as PayPal Wallet and Apple Pay, emerges as a clear avenue for enhancement. Consistently leading to significant conversion improvements across both Checkout and Visit Conversion Rates, these methods offer the convenience, trust, and one-click checkout that can be differentiators for merchants aiming to enhance conversion rates.

In the quest for e-commerce growth, the message is clear: a frictionless checkout experience, complemented by a variety of secure and convenient payment methods, may well be the most potent strategy. BigCommerce’s commitment to unraveling the nuances of conversion rates stands as a testament to its dedication to empowering businesses in the ever-evolving digital landscape. The study not only highlights the current prowess of BigCommerce but also signals a path forward — one where conversion success is not just a goal but a tangible outcome of innovative, user-centric features.