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The Rapid Checkout Influence on D2C Brands: Drop-offs from 65% to 20% 📉

The 1Checkout for all of D2C - Simplifying the Checkout Process to under 5 seconds, and reducing ecommerce drop-offs

March 23, 2023

D2C Caffeine - A Pragma Original Newsletter

A regular dose of D2C-centric resources & tools for Growing Brands, Startups & Entrepreneurs. 

*If your Checkout time reduces from 60+ seconds → <15 seconds

Reduce Drop-offs with a Rapid Checkout

Checkout speed is important in ecommerce for several reasons, particularly in India - because we are many things, but not patient.

And the statistics prove that…

  • 59% of online shoppers in India expect a page to load in 3 seconds or less, and 53% of shoppers will abandon a website if it takes more than 3 seconds to load.

  • 81% of Gen Z shoppers say they are more inclined to make a repeat purchase if they see auto-population and multi-payment options.

  • 35% more customers were retained by rapid checkout brands (less than 15 seconds), compared to traditional checkouts (more than 60 seconds)

What do we target with a Rapid Checkout System?

1Checkout Reducing Checkout Abandonment Drop-offs for D2C brands

1. Gain users’ trust

    Our autofill data is gathered from 450+ brands.

    Meaning, the online buyer will know the auto-population is from a previous purchase from a past trusted purchase,And they are also relieved as they avoid the hassle of re-entering address, payment, and other information

    2. Checkout Engagement Rate 

      The percentage of online customers who begin the checkout process once they visit their cart is referred to as the Checkout Engagement Rate (CER). The CER is another way of looking at the CAR (Checkout Abandonment Rate) because it helps you evaluate how effective your checkout is. 

      Formula to calculate CER: 

      Number of sessions that began checkout / Number of visits that included the cart page

      3. Checkout Conversion Rate

        D2C brands can figure out the percentage of their online shoppers who complete their checkout process from start to finish to get your Checkout Conversion Rate (CCR). 

        These are the online customers who complete a checkout without moving back and forth between platforms/website pages.

        Formula to calculate CCR: 

        Number of sessions that completed checkout / Number of sessions that began checkout 

        4. Mobile Abandonment Gap

          The Mobile Abandonment Gap (MAG) shows the contrast between CAR for mobile devices and desktop computers. 

          With 89% of all online purchases made on mobile devices, it is important for brands to keep an eye on mobile success rate, and optimise if necessary.

          Formula to calculate MAG: 

          Mobile CAR - Desktop CAR. 

          5. Effectively reduce hassle the number of form fields

            - Reduce the number of form field

            - Limit the number of steps

            - Enable instant transaction

            Like we do with our 1Checkout…

            Where we use the data from 450+ brands, and our partnership with Truecaller helps too.

            Truecaller and Pragma's 1Checkout

            All in all, 1Checkout offers -

            1. Auto-population

            2. OTP-less Authentication

            3. Under 5 second Checkouts, and

            4. All major payment modes (BNPL, UPI, Wallets, Net banking, Cards etc - across 60+ banks)

            While reducing drop-offs by >45%

            That’s the end of our talk on 'The Rapid Checkout Influence: Drop-offs from 65% to 20%'...

            See you on the next coffee date!

            Pragma D2C Operating System

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