By Casey Gannon, vice president of marketing, Shopgate
While the use of Apple Pay in mobile apps isn’t a new concept, most retailers, especially in the SMB and mid-market world haven’t taken advantage of its conversion advantages.
For consumers, consider the difference between having to manually enter their credit card and billing information during checkout on a 5-inch screen, versus holding their thumb on a button for a moment. Realistically, it might only save a couple of minutes, but the ease of use has huge implications in the world of mobile payments and abandoned carts.
Apple Pay is still relatively non-existent on mobile web, which is seriously detrimental to the conversion rates for online retailers without an app. When you consider that mobile commerce will make up nearly 50 percent of all e-commerce by 2020, one-touch payments are more important for online retailers than ever before.
What Apple Pay could mean for mobile shoppers
Mobile shopping should be easy. It should offer convenient searching, easy to read product information and simple checkout.
For many shoppers, nothing kills an impulse-buying mood more than having to reach down and take out their wallet, stumble through their various credit cards until they find the right one, and then attempt to successfully tap on and type in each line of a checkout form. Think about how many times you’ve had to type in your address and credit card information during a mobile checkout this year.
According to a study from the Baymard Institute, 27 percent of U.S. online shoppers abandoned an order solely due to a long and complicated checkout process. The study also shows that the U.S. checkout flow contains 23.48 form elements displayed to shoppers by default.
In 2017, the question really is why are we still forcing shoppers to still go through this tedious check-out process?
On the flip side, when a consumer can shop through an app that supports Apple Pay and they make the decision to buy something, many would agree that seeing that “magical” notification pop-up asking them to Pay with Touch ID makes a huge difference in going that last step to make a purchase. One simple touch seems like a given these days, but it’s an incredible step towards a truly seamless shopping experience.
What Apple Pay means for online merchants
On average, mobile apps convert customers 120 percent more often than on mobile web, and 20 percent more often than desktop. While that staggering contrast is due to a number of factors, such as repeat business from loyal customers, there’s a more important concept to keep in mind—the experience.
Again, capping the buying journey off with a one-touch payment option is a sure way to not only capture a conversion, but to leave the customer with an positive first impression and ensure customer loyalty going forward.
Savvy retailers know that offering a one-touch payment option to their loyal shoppers ensures the customer buying journey remains seamless. Now that customers are starting to adopt a mobile-first approach when it comes to shopping, it’s time that online merchants adopt a strategy that parallels this trend.