Can Frictionless Checkout Drive Conversions?
New research shows that consumers are irritated by keeping track of online shopping login information. When perusing online sites, 62 percent of shoppers prefer having one account that can be used anywhere, according to research by Bolt and YouGov.
The research showed that consumer irritation levels “are so high that nearly half of the people surveyed — 44 percent — say they’d rather sit in the middle seat of an airplane than keep track of all their online shopping accounts and passwords,” the report’s authors said. More than 900 consumers were surveyed for the report.
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Bolt said this round of research aims to understand “consumers’ greatest shopping concerns and behaviors” while also highlighting the need for brands and retailers “to cut friction in the store account creation process to drive lifetime value with consumers,” the company said in a statement.
Shilpi Narang, senior vice president of customer experience at Bolt, said brands and retailers could improve store account creation “by using technology that provides consumers with secure, one-time passwords for simpler login, minimizing the number of forms shoppers have to fill in to sign up for an account. Having a shopper do something as simple as checking a box to create an account and capitalizing on consumers’ positive feelings while completing a purchase incentivizes more store account creations, which empowers merchants with increasingly critical first-party data.”
Sifting through other findings of the report revealed a variety of consumer personas that can be used to tailor marketing campaigns. One persona is price-driven, and by offering discounts and store account programs aimed at deals, retailers could drive more conversions. In the survey, 37 percent of respondents cited low prices as the most important factor when shopping online. Meanwhile, 63 percent of those polled “agree that being offered a discount code from a brand will help them complete a purchase they weren’t fully committed to beforehand,” the report stated.
“Age also plays a big factor in price sensitivity,” the report noted, with 29 percent of shoppers ages 18 to 34 revealing that price is the most important factor when shopping for products online,” which compares to 38 percent of 35- and 54-year-olds and 42 percent of those 55 and older.
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