We’ve all heard and seen the statistics - shopping cart abandonment has reached epidemic levels with some sources quoting up to 40% of checkouts ending without a conversion.
Irrespective of the loss in revenue, the likelihood of a repeat purchase from these users is also slim to say the least.
So how do we fix this problem? Single-page checkouts have proven again and again to work better. Online customers have little or no patience when it comes to form-filling and security procedures. Asking them to fill in several pages can lead to them getting frustrated and clicking away.
Unfortunately some payment services such as Mastercard’s 3D secure insist on multi-page checkout, leaving the site developers with no option but to implement this format, but the site owners can vote with their business by choosing options that do not insist on this level of security.
3D secure can be problematic due to forgotten passwords, time taken to fill in the forms, additional fees incurred, etc. It may sell itself on customer confidence, but is it working?
No, in our opinion - and that of an increasing majority on internet platforms. An A/B test carried out on the 2010 Vancouver Olympics online store showed that the simple, one-page checkout increased conversion rates by 21.8% over the multi-page version (based on a 50-50 split of users).
One-page checkouts just make sense. They’re quicker, easier, appeal to the online user mentality and provide a higher conversion rate. It’s a no-brainer!
This problem also applies to multi-page versus single-page forms. The single-page registration process (as in single-page payment processes) tend to be more successful as the users can see the entire form immediately, are less suspicious of the time it will take to complete and are less likely to bounce-from / leave the process half way through.
They can also see all of the questions in advance, make amendments/adjustments without having to return to previous pages, and are more likely to follow through to the end.
So, whilst multi-page checkout and form submissions may offer additional security and the ability to source more information, if the user is likely to abandon prior to completion, then what’s the point. If your system allows for single-page processes, then stick with it. You’ll benefit in the long run.