Burn Notice – Your Customer is Never Coming Back (unless you fix a few things in your checkout)

Today’s consumer behaves and thinks differently to how they did 10 years ago. They are more unpredictable and less loyal. They have less time but are more conscientious, prefer experiences over products, and now more than ever, they expect a frictionless online shopping experience.

They also expect fast (and often, free) delivery, and have a few “basic” purchase requirements when shopping online:

►A variety of relevant payment methods available
►Clear, accurate pricing 
►Quick and seamless transactions

 

Ensuring those ‘basic’ requirements were met became far more complicated than most merchants ever imagined, and in doing so resulted in thin profit margins; lost revenue; and damaged reputations due to fraud, and (what appeared to be) hidden fees. 

The end result was of course a loss of consumer trust, and merchants frantically in search of the tools to build a frictionless checkout experience in an effort to build back their credibility with consumers. 

Let’s hit the high points to see how merchants are resolving these concerns and capturing their share of this booming market:

 

Cart abandonment

Conversion rates plummeted as merchants adopted a patchwork approach to processing payments, sending shoppers to third-party providers to complete transactions. The issues here are myriad, but ultimately resulted in friction that consumers didn’t sign up for – so they left and most didn’t bother returning. 

Solution: Creating an optimal customer experience requires an integrated checkout experience – and offering payment methods relevant to international shoppers (and only those payment options that are relevant to them). This creates a cleaner, more professional look, drastically reduces friction and cart abandonment.

 

 

Hidden fees

Beyond the unique payment methods consumers seek, most countries also have their own ecommerce regulations – and with them, a variety of fees. Short of having a team on the ground in each location, there will be extra costs added to each transaction. This is unavoidable –and frustrating for both sides of the equation (consumers and merchants).

Solution: Reach offers local pricing everywhere with our Merchant of Record model. Merchants can offer competitive pricing to shoppers wherever they are, and compete in the global market as if they were local.

Fraudulent charges