This holiday season is predicted to cap a record-breaking year for online sales. Are you ready to invite more shoppers to your store?
Online shopping trends are looking good, Black Friday and Click Frenzy sales are around the corner, and Christmas is nearly upon us. We’re heading into the peak shopping period, so it’s time to focus on enhancing your checkout experience. And Limepay can help you nail the sales with higher customer satisfaction and loyalty too.
The shift to more consumers buying online has been ticking along steadily, but throw in a pandemic, and the number of eCommerce transactions has skyrocketed. For millions of people, lockdowns and travel limitations have changed online shopping behaviour. It’s no longer a convenience but a necessity.
As the digital generations have grown and become household consumers, the shift from bricks and mortar to online shopping has increased quickly. More than 60% of millennials (aged 23-37) are considered addicted to online shopping. And their Gen Z counterparts are following in their footsteps.1
While it’s seemingly easy to set up an online shop, savvy retailers know that it takes more than a website and just any payment provider to do it right. Increasing sales online means paying attention to the entire customer experience.
When it comes to online storefronts, there’s universal functionality that shoppers understand and expect. Where the experience falls flat is at checkout.
Before last Christmas’ shopping season, Australian sports retailer Sportitude started looking for a different Buy Now Pay Later (BNPL) provider. When their customers reached the checkout, they were redirected to a different site to pay which Sportitude believed led to an increase in cart abandonment.
Only 6 months after adopting Limepay’s BNPL solution, Sportitude enjoyed a dramatic boost in sales. And over the 2020 Christmas sales season, they saw a 23% increase in average basket size.
It’s easy to build trust with some customers. But many, especially those who had to ramp up their online IQ quickly in the past two years, will ghost a cart quickly. Take them to another site at checkout, for example, and the friction can lead them to shop elsewhere.
With Limepay, you can build brand loyalty and trust. Customers stay on your site at checkout, and it’s your brand from start to finish.
Your customers will also appreciate the ability to check out without creating an account and pay with their preferred card.
Options build loyalty. And today’s shoppers want to pay in the way that suits them.
The number of Australian credit cards in use today is lower than pre-2009. Consumers, especially the younger generations, don’t want a credit card. People aged 20-35 who own a credit card is down 20% from 20 years ago.2
Millennials and Gen Z prefer paying in instalments because it gives them more control of their money and reduces their debt risk. As buyers’ attitudes change, so does the payment landscape.
This means payment solutions are evolving and that brings challenges. Your checkout needs innovative technologies so your customers can pay the way they feel most comfortable. Whether it’s once-off, split or repeating payments, can your checkout handle it all?
Give your customers a choice. Let them use the payment option that suits their lifestyle and budget. With the Limepay platform, they have options, and it can help you unlock new customers and build customer loyalty.
Learn more about Limepay’s wide range of payment options.
1https://www.news.com.au/finance/business/retail/millennials-could-be-losing-out-on-thousands-of-dollars-in-discounts-because-they-shop-online/news-story/8742db52e406c363b6f9a9a156d0d3e8
2https://www.abc.net.au/news/2020-08-17/credit-cards-ditched-millenials-buy-now-pay-later-coronavirus/12534560