Deann Evans
Managing Director, EMEA, Shopify
In the fast-paced retail sector, keeping up with technological developments to clinch sales is a must — and helping businesses do so is a recognised leader in commerce solutions.
Soaring inflation, price hikes and consumers questioning every purchase have made 2023 challenging for retailers. But helping them to drive growth is Shopify, the global commerce company with the highest converting checkout on the market.
It started over a decade ago, helping businesses like fitness brand Gymshark and outdoor pizza oven company Ooni become household names. With its simple, one-click purchase solution, the platform is used by over 100 million shoppers in 23 countries. They are also revolutionising enterprise commerce, giving retailers the flexible, scalable infrastructure they need to run their businesses. And it’s working, as they were named a Leader in the 2023 Gartner® Magic Quadrant™ for Digital Commerce, placed highest for their ability to execute, and named a Customers’ Choice in the 2023 Gartner® Peer Insights™ ‘Voice of the Customer.’
Helping enterprise retailers scale successfully
In January, they launched Commerce Components, giving enterprise retailers solutions for their specific needs rather than having to build bespoke commerce systems or buy restrictive, off-the-shelf alternatives. From handling colossal product catalogues and complex inventory management to limitless order volumes and multi-channel selling, Commerce Components helps enterprises scale successfully.
Following on from that in July, Sidekick was unveiled — a groundbreaking AI-enabled commerce assistant that can improve the shopfront, streamline backend operations, build marketing campaigns, automate flash sales, and even engage customers more effectively.
“There’s no corner of the internet that will benefit more from AI than helping businesses to grow, and Shopify is proactively helping retailers harness its potential,” explains Deann Evans, Managing Director, EMEA. “This is just the beginning.”
Our mission is to make commerce better for everyone,
including all brands regardless of size and geography.
Solving checkout frustrations boosts conversion
Clunky checkout processes lead to cart abandonment. Shopify’s accelerated checkout drives customer satisfaction and retention, and a study by a Big Three global management consulting firm found overall conversion rate outpaces the competition by up to 36% and 15% on average. Even when not used, having Shop Pay present at checkout increases lower funnel conversions by 5%.
Deann says: “Shoppers want comfort and speed at checkout and a payment option they know and trust. If their preferred payment method is absent, they could abandon the purchase. Accelerated checkout solutions like Apple Pay, PayPal, Klarna and more must be available for customers to buy how they want with the ability to save key information, helping them buy faster.”
“Our mission is to make commerce better for everyone, including all brands regardless of size and geography. We want to help them compete and thrive by offering innovation, choice and flexibility.”
How accelerated checkout boosted conversion by 8.5%
Founded in 2015, UK baby brand MORI creates organic products using soft, sustainable materials in trusted factories. Using Shopify Plus and Shopify Payments, they quickly grew and expanded internationally to the US.
Challenge
This growth brought challenges; namely, ensuring faster checkout times for customers, and they wanted to identify the value that Shopify Payments and, in particular, the accelerated checkout Shop Pay delivers. As the most popular payment method amongst MORI’s customers, the team wanted to ensure that it could continue to work for them.
The partnership with the ecommerce platform, and Shop Pay particularly, has continued to positively impact the business
Solution
Following an internal analysis, both UK and US results clearly showed that an accelerated checkout solution could deliver valuable results for its business. From helping to reduce abandoned checkout rates to driving revenue growth through higher-value baskets, the benefits of choosing an accelerated option made it obvious that choosing another route could harm revenue.
It also highlighted further benefits. In the US, it has the flexibility and control to offer Shop Pay Instalments simply by switching it on via its admin, without needing to run complicated installations and technical contracts—something that, if missing, would waste precious resources for the team, rather than focusing on optimising the store for customers.
Results
The partnership with the ecommerce platform, and Shop Pay particularly, has continued to positively impact the business. Over half (55%) of its customers use it, and those who do spend, on average, 13% more. In total, MORI has witnessed an 8.5% increase in conversions from Shop Pay users.