Checkout conversion rate
What Is Checkout Conversion Rate?
Checkout conversion rate is an ecommerce metric that refers to the percentage of shoppers who begin the checkout process and then complete it over a given period of time. This differs from checkout abandonment rate and shopping cart abandonment rate, which measure the percentage of customers who do not complete a purchase. By monitoring their checkout page conversion rates over time, an online store can identify behavioural patterns and inconsistencies. This helps merchants understand which aspects of the checkout process are working well and which may require optimisation.
What are strategies for increasing checkout conversions?
To improve checkout conversion rates, it’s essential to understand checkout abandonment rates as well. Analysing why customers abandon the checkout process helps merchants identify the most effective elements of their current experience. Generally, it’s important to simplify and streamline the checkout flow. For instance, offering a single-page checkout can improve conversions for lower-value purchases. Providing free shipping is another effective strategy, especially for physical products. If free shipping isn’t viable, then it’s important to clearly communicate all associated delivery costs early in the process. Finally, allowing for flexibility at checkout, such as accepting a wide variety of payment methods, can help reduce friction and increase overall conversion rates.
