Report: Multiplayer shopping and the future of ecommerce
Online businesses are constantly refining their online presence (with engaging onsite content, streamlined user journeys or otherwise) to remove their customers’ obstacles to conversion.
However, with 75% of all online carts getting abandoned worldwide, the pain of losing customers at the final hurdle is one that’s felt by every online business, regardless of its size, legacy or customer base.
Part of the issue is the restrictiveness of online shopping cart themselves because they generally can’t be shared; in essence, shopping carts are private to the person doing the shopping.
This feature (or bug, depending on your perspective) means in-store experiences – like one person shopping and another person paying at the checkout – is an unwieldy and often impossible task that doesn’t translate to the online space. To solve this issue, new players in the payments space like YouPay, a financial technology business based in Brisbane, Queensland, are making carts shareable to help online stores generate more sales through an all-new path to purchase.
How can your online business benefit?
YouPay’s cart sharing technology lets one person shop online and another person pay at the checkout, seamlessly and securely. So, what benefits can this all-new path to purchase deliver to ecommerce stores?
- Create more sales by giving customers a new way to pay
- Tap into creator commerce by allowing content creators to have items purchased for them anonymously
- Convert more abandoned carts by giving your customers a third-party payment option (instead of instant payments or BNPL) after they’ve abandoned their cart
- Increase customer acquisition by capturing customer details for both the shopper and the payer with every transaction
- Deepen customer insights by learning more about your customers’ purchasing habits