E-commerce checkout is the most important part of the online purchase funnel. It's relatively easy to navigate your customers there, but getting them to actually pay for the goods, is the hard part. Every little detail matters, as customers can drop out at any time.
Selecting the best checkout should be one of the key factors when deciding what e-commerce platform to use. So what's the best-converting checkout in the World? According to the study from May 2023, it's Shopify Checkout.
The study conducted by one of the Big Three consulting companies (Bain, BCG, or McKinsey) revealed that Shopify's checkout converts 15% better on average. Specifically 5% better than Magento, 12% better than BigCommerce, and 36% better than Salesforce Commerce Cloud. The study didn't reveal many details about the testing methodology besides saying it tested like-for-like samples.
Four reasons why Shopify checkout is the best
- Identity network: Shopify is one of the World's biggest e-commerce platforms and has a large 100+ million buyers who opted in using the one-click payment method Shop Pay. When a Shop Pay user is recognized in the checkout, it automatically pre-fills all the details and allows a simple and frictionless checkout.
- Scale (& speed): Shopify will never (rarely?) let you know. It powers almost 30% of e-commerce websites in the US and is a leading platform in many countries around the World. That's why its infrastructure is extremely robust, fast, and reliable. No matter from which location you are checking out.
- Trust: Shopify's checkout is something that you can get easily familiar with. If you shop online often, there is a high chance you are going through the Shopify checkout. It's almost identical on all stores, so the experience is the same. There are only a few elements merchants can change.
- Innovation: Shopify continuously innovates the checkout process. In fact, it has a dedicated engineering team only for checkout, which is larger than all engineering teams in other e-commerce platforms. One of the most anticipated innovations is the One-page Checkout which is supposed to improve the conversion even more.
Conclusion and how to improve your checkout conversion rate
Shopify is now "officially" the best-converting checkout in the World. But that doesn't mean it's the best one for your online store. Make sure to read our guide "20 tips to customize & optimize your Shopify checkout" to tailor it for your customers.
What is the checkout conversion rate you should aim for? On average, it's anywhere between 2 to 5% depending on your industry. If you are below these numbers, it means there is space for improvement. We'll be happy to help you by doing the CRO & AOV Audit focusing on your purchase flow.