Update (November 20, 2023): All merchants (including Shopify Basic) can now choose between the one-page and three-page checkout layout.
It's been two weeks since we started migrating some of our stores to the new one-page checkout by Shopify. We have almost two weeks of data to look at and analyze the performance versus the old, multi-page checkout.
The short answer is the one-page checkout seems to be converting better by roughly 7.5%. Unfortunately, we couldn't run a proper A/B test, and comparing period-over-period data is always tricky and less reliable.
We have analyzed only one store so far, but we plan to analyze more of them.
As you can see from the data, the average checkout conversion went up from 54% to 57%. The performance in the last 5 days has reached over 60% conversion, so the trend seems positive.
How we measured the performance
To calculate the checkout conversion rate, we took the number of orders placed and divided it by reached checkouts. Basically calculating what percentage of customers who got into checkout finished their order. We didn't want to take the session-based conversion rate as many other factors can influence it.
If you want to run a similar analysis, go to your store admin > Analytics > Reports and find an "Online store conversion over time" report. You can export the data and "play" with them in Excel or Google Sheets.
It's also worth noting that the analyzed store has always been the perfect candidate for the one-page checkout. It has a low AOV ($20) and a simple product, with most orders having 1-2 line items. 80% of the traffic comes from mobile devices. The number of sessions and reached checkouts was roughly the same, with no major spikes or bottoms.
Conclusion – is the one-page checkout better?
If I should answer simply yes or no, I tend to say yes – the new one-page checkout performs better. However, we still need to analyze more stores, especially the ones with higher AOV.