The document discusses strategies for streamlining the online checkout process based on a panel discussion. It notes that cart abandonment rates are up as consumers expect lower prices and a simpler checkout. The panelists recommend testing checkout improvements like persistent carts, payment options, and personalized offers to reduce abandonment and increase sales.

1. Streamlining the Checkout Process

2. Streamlining the Checkout Process Matt Franklin , Blogger (moderator) Manish Chowdhary , CEO, GoECart Pete Olsen, VP of Product Management, Amadesa Mike Madaio , Principal, User Experience, QVC

3. Manish Chowdhary CEO GoECart Streamlining the Checkout Process

4. Brits Are Losing Patience With Shopping Online

5. Brits Are Losing Patience With Shopping Online

6. Brits Are Losing Patience With Shopping Online

7. Brits Are Losing Patience With Shopping Online

8. Brits Are Losing Patience With Shopping Online

9. Brits Are Losing Patience With Shopping Online

10. Ecommerce is Still BIG, but Different Now Ecommerce is maturing! One-third of online shoppers have now been buying online for seven years or more Website traffic is up but “1-and-out” rate is up too “ Engagement” rates are down Cart abandonment rates are up

11. Top 3 Reasons Why These Sophisticated Consumers Shop Online? Time savings Convenience The opportunity to find lower prices and unique products

12. Cart Abandonment Rates Are Up

13. Why Do People Abandon Shopping Carts ? 72% of online shoppers expect prices to be lower online than any other venue.

14. Idle vs. Abandoned Shopping Cart 50% of Internet purchases are concluded more than an hour after the shopping cart was created Avg. length of time varies greatly based on the product type Carefully consider the right abandonment metric Wait at least 24 hrs to contact recent shoppers

15. The New Acid Test for ALL Website Changes and/or Enhancements Will my customer experience this as a benefit? It’s NOT just about the value of the present sale but the lifetime customer value .

16. What Are We Going To Do? Get Personal Convince Them You Have What They Want i.e. The Ideal Shopping Cart Common elements Increase Customer confidence - build and enhance trust with customer Provide the right information at the right time Make shopping experience easier

17. Loyalty Building Need Not Be Expensive Personalized Targeted One-On-One Email: Simple but Effective (3x) 77% of the shoppers found the personalized offers useful and 34% made a purchase based on those recommendations (source: Forrester Research)

18. The Ideal Shopping Cart Tip #1: Provide an “always-on” universal shopping cart

19. Tip #2: Give Customers’ the Ability to Edit and Manipulate Items Right Within the Shopping Cart

20. Tip #3: Use Eye-Catching Call to Action Buttons

21. Tip #4: Persist the Cart and Enable Customers to Add Items to their Wish Lists, Registries and “Social Shopping Lists"

22. Tip #5: Increase average order size via RELEVANT cross sell and up sell right in the shopping cart

23. Tip #6: Present Conditional Merchandising Messages Within the Shopping Cart

24. Tip #7: Support Multiple Alternate Payment Methods

25. Tip #8: Support Cross-Channel Sales via Gift Cards, Gift Certificates, Loyalty Programs and In-store pickup

26. Tip #9: Clearly Display Item Stock and Availability Status

27. Tip #10: Display Security and Trust marks like BBB, Verisign, HackerSafe, TRUSTe, etc. Provide contextual information at the right time - Return and Privacy Policies, FAQs, … Click to Chat, Click to Call

28. Tip #11: Must Have Excellent In-Store Site Search

29. Tip #12: Handle the Empty Cart Wisely

30. The Ideal Shopping Cart Attributes (cont.) Tip #13: Offer Free Shipping (if you can afford it) – It works! Tip #14: Provide immediate visual feedback on promotional discounts Tip #15: No one size fits all – Test, Test and then Test some more!!

31. Shopping Carts Optimize the experience Pete Olson VP Product Management Amadesa, Inc.

32. The Problems…. Shopping Carts are complex in the eyes of the retailer Shopping Carts are necessary evils in the eyes of the customer Shopping Carts are all different

33. Why Shoppers Leave* High prices / total / hidden costs Shipping & handling issues Didn’t want to register Site asked for too much info Website too slow Checkout process too long or confusing * MarketingSherpa 2007 eComm benchmark Shoppers Leave Because the Experience Hasn’t Been Calibrated to Balance Shopper Desires and Company Needs

34. What Can Be Done? Bring the concept of testing to the cart pipeline Take action on the results 10% lift in conversions represent 10% lift in revenue…. It’s the only place direct impacts can quickly be felt on the top line Understand and improve the experience of users

35. Nuts and Bolts… 2/3/4/5/6 Step Progress Bar Above Checkout Fields Hide Order Summary Until Payment Information Removal of CVV from Payment Information Removal of Phone Numbers from Personal & Billing Information Create phone number entry fields Test checkbox “same as billing address” that when unchecked, fields will be cleared Enhanced Security Messaging Throughout Checkout Process Overarching Marketing Message Moving Discount Code Into the Payment Fields Removal of Choose your currency No gift option No promotion code option A Partial List…… A Partial Placement of Widgets Shipping calculators Promotional codes Wording/copy/language Security messaging Affirmation messaging Single vs. multi-step Collapse / Expansion of Steps Exit Points Progression bars (breadcrumb) Design / Template / Layout

36. Closing… Find an approach that will: Minimize internal IT resources Leverage proven experience Support your objectives

37. Mike Madaio Principal, User Experience QVC Improving Checkout at QVC

38. Thank You! Matt Franklin – ray@rssray.com Manish Chowdhary – mchowdhary@goecart.com Pete Olsen –polsen@amadesa.com Mike Madaio – mike.madaio@qvc.com