WALTHAM, MA – February 2, 2016 – eCommerce now accounts for as much as 10 percent of all retail sales, but merchants are putting as much as 42 percent of their online sales at risk by making it too hard for consumers to complete the checkout process. In an effort to help retailers capitalize on the burgeoning eCommerce opportunity, BlueSnap, a leading provider of global, mobile checkout solutions, is launching The Checkout Conversion Calculator to help retailers identify the points of friction that create a loss of sales.
The Checkout Conversion Calculator is a simple, 12-step tool that will help retailers identify where there is friction in their checkout process. The calculator breaks down the challenges that contribute to checkout abandonment such as excessive friction, lack of consumer confidence and excessive payment declines. In just a few minutes, retailers will be able to identify where they have friction and compare their results to other merchants in their merchant segment.
The calculator follows the methodology introduced in the PYMNTS.com Checkout Conversion Index (CCI). The report is based on an analysis of 650 U.S. retailers that represent nearly 75% of all U.S. eCommerce spending. The report found that retailers are losing as much as 42% of sales due to checkout friction. That means that as much as $150 billion in sales shifts to retailers where checkout is optimized, such as Amazon.
“People buy from Amazon because they have a simple, one-click checkout process. Every retailer needs to provide that same experience or risk losing out. That’s the inspiration behind the Checkout Conversion Calculator – to help merchants discover and zero in on the things they must do to maximize their checkout, payments and sales conversions,” says Ralph Dangelmaier, CEO of BlueSnap.
BlueSnap’s Powered Buy Platform helps merchants solve their checkout conversion problems that the Checkout Conversion Calculator identifies. To learn more about BlueSnap’s Powered Buy Platform and to go through the Checkout Conversion Calculator please visit home.bluesnap.com/conversioncalculator