5 Ways to Optimize Magento 2 Checkout: Increase Revenue

Imagine all the sales that could have happened if only your customers didn't abandon the cart. Abandoned carts are perhaps one of the most painful issues online store owners using Magento 2 (Adobe Commerce) checkouts can face. As per the data from Baymard.com in their "Cart Abandonment Rate Statistics for 2023" report, the average documented online shopping cart abandonment rate stands at 70.19%.

Do you ever wonder why customers abandon their carts? Is it due to something you did or is it on their end? The answer can vary, and there's no one-size-fits-all solution to completely eliminate cart abandonment. However, you will discover how to optimize your Magento 2 checkout process as we move forward.

What Is Checkout Optimization?

Checkout optimization is the strategy you, as a retailer, employ to enhance your online store's conversion rate. The aim is to reduce distractions and build trust at every step of your checkout process, guiding you, the shopper, towards receiving a purchase confirmation email and preventing cart abandonment.

What Makes Checkout Optimization Significant?

As an e-commerce business that takes steps to customize your Magento 2 checkout page and optimize the checkout process, you can enjoy a reduction in the number of abandoned shopping carts. Magento checkout optimization has the potential to boost your average order value (AOV). Techniques like cross-selling and upselling, which are seamlessly integrated into your Magento checkout process, encourage your customers to make additional purchases, ultimately leading to increased revenue.

5 Effective Ways to Optimize Magento 2 (Adobe Commerce) Checkout

Optimizing the Magento 2 checkout process is crucial for enhancing the user experience and increasing conversion rates. Here are the Five effective ways to achieve this include streamlining the checkout steps:

1. Allow a "Guest Checkout" Option

Registration forms can be pretty time consuming, and most of us are always in a hurry or just too lazy. According to Baymard Institute’s research, the average documented online shopping cart abandonment rate is 69.57%. In 2019, they collected more than 4,000 responses and found out that the second most popular reason was the requirement to create an account to check-out. This is a simple configuration change in Magento 2 (Adobe Commerce), which can result in a very positive change of your conversion rate.

For further communication with your clients, collect their emails during guest checkout and ask for their permission to send marketing emails. Additionally, after the guest Magento checkout is completed — offer the customer to create an account to receive a further discount. These are just a few of many solutions; be creative!

2. Make It Smooth and Easy

Magento checkout optimization process should embrace the convenience and effortlessness that online shopping offers to the consumers of the 21st century. Completing your purchase should be easy or at least look easy. In Baymard Institute's 2023 study with 2,219 participants, 18% of respondents identified a checkout process that was excessively lengthy or complex as a key issue, while 14% cited website errors or crashes as a concern.

One way to ensure the previously mentioned is one-step checkout. Furthermore, the solution is supremely advantageous for mobile users. Be sure to not ask for too much information here — don’t put too many fields to fill in will make the process look hard and time-consuming.

3. Remove All Distractions

Your customer has finally made a decision and reached the Magento checkout. Trust me, it’s the place where you want them to be 120% focused and complete the purchase, not to abandon the cart and leave the site. Distractions like sudden pop-up ads could trigger your customers.

It’s a good idea to remove navigation bars and anything that could be a distraction on the checkout page. Magento's Instant Purchase streamlines checkout for logged-in customers. With one click, they can confirm their purchase without entering billing or shipping details. The main goal is to motivate the customer to complete the transaction here — keep it in mind when designing the Magento 2 checkout page.

4. Eliminate Additional Charges

Remember the Baynard Institute’s research we discussed on the first step? According to the same research, extra costs are the number one reason why people abandon the cart, leave your store, and most likely are never coming back.

Not everyone can offer free shipping, but the fact that there are stores that can do so shall keep you alarmed. It’s recommended to show such costs as taxes together with the product price. Delivery calculators can be pretty useful too — implement it somewhere near the product so your customers can see the available shipping methods and consider the option that suits them the best.

5. Offer Multiple Payment Methods

It’s not about your habits, it’s about your customers. When it comes to payment methods, you should let them choose. Although it’s 2024 already, some websites still offer PayPal as their only payment method. PayPal is great, but not everyone has it or finds it convenient.

Make sure that you offer the most common payment methods to this day, such as credit/debit cards, Apple Pay, PayPal, and others. If you have business clients, be sure to offer to pay by bank transfer after they have received a bill.

Optimize Your Magento 2 Checkout Now!

Stop losing customers and try these five5 solutions to optimize your Adobe Commerce checkout conversion rate. Compare the results before and after the optimization, and we will be happy to hear how it went. In case of questions and deeper analysis of how your checkout could be optimized, please contact our team. We can’t wait to help your business grow!

Final Thoughts

Addressing cart abandonment is paramount for the success of your e-commerce business. By implementing the five effective strategies outlined to optimize your Adobe Commerce checkout, you can significantly reduce the number of abandoned carts and increase your conversion rate. Simplifying the checkout process, eliminating distractions, and offering multiple payment options are key steps to create a seamless and convenient shopping experience for your customers.

Additionally, leveraging cart recovery emails can help you recover lost sales and further enhance your revenue. With these strategies in place, you can foster higher conversions and sustainable growth for your online store. Cart abandonment is a challenge that every online retailer faces, but it's also an opportunity for improvement. By constantly fine-tuning your checkout process and staying attuned to customer preferences, you can not only recover potentially lost sales but also build trust and loyalty with your audience.

FAQs

Why Address Cart Abandonment?

Addressing cart abandonment is crucial as it directly impacts your online store's bottom line. When customers abandon their shopping carts, potential sales are lost. Understanding and tackling the root causes of cart abandonment is essential to improve your conversion rate and revenue.

What does guest checkout mean in Magento 2?

Guest checkout in Magento 2 is a crucial function aimed at enhancing the online shopping experience. It permits customers to complete purchases without the need to create an account. This functionality enables store owners to simplify the checkout procedure, enhance conversion rates, and potentially grow their pool of loyal customers.

How to Enhance User-Friendliness?

To enhance user-friendliness, consider implementing a guest checkout option, simplifying the checkout process to reduce the number of steps, eliminating distractions on the Magento checkout page optimization, and providing transparency regarding extra costs like taxes and shipping. Offering multiple payment methods can also make the process more user-friendly.

What distractions should be minimized in the checkout process?

Distractions on the checkout page can take various forms. For instance, irrelevant advertisements or pop-ups for unrelated products and services can divert customers' attention away from completing their purchases. Complicated navigation menus, excessive cross-selling prompts, and non-essential information or form fields can overwhelm users during the checkout process.

Imagine all the sales that could have happened if only your customers didn’t abandon the cart. Abandoned carts are perhaps one of the most painful issues online store owners can face. According to statista.com, the global online shopping cart abandonment rate in 2019 was 69.57%.

Do you ever wonder why the customers do so — is it you or them? The answer varies, and there is no recipe to stop the cart abandonment completely. However, you can optimize your checkout in 5 easy ways mentioned below and see how your conversion rate improves.

Option to check-out as a guest

Registration forms can be pretty time consuming, and most of us are always in a hurry or just too lazy. According to Baymard Institute’s research, the average documented online shopping cart abandonment rate is 69.57%. In 2019, they collected more than 4 000 responses and found out that the second most popular reason was the requirement to create an account to check-out. This is a simple configuration change in Magento 2 which can result in a very positive change of your conversion rate.

For further communication with your clients, collect their emails during guest checkout, and ask for their permission to send marketing emails. Additionally, after the guest checkout is completed — offer the customer to create an account to receive a further discount. These are just a few of many solutions, be creative!

Make it smooth and easy

Checkout process should embrace the convenience and effortlessness that online shopping offers to the consumers of the 21st century. Completing your purchase should be easy or at least look easy.

One way to ensure the previously mentioned is one step checkout. Furthermore, the solution is supremely advantageous for mobile users. Be sure to not ask for too much information here — don’t put too many fields to fill, it will make the process look hard and time-consuming.

Remove all distractions

Your customer has finally made a decision and reached the checkout. Trust me, it’s the place where you want them to be 120% focused and complete the purchase not to abandon the cart and leave the site. Distractions like sudden pop-up ads could trigger your customers.

It’s a good idea to remove navigation bars and anything that could be a distraction on the checkout page. The main goal is to motivate the customer to complete the transaction here — keep it in mind when designing the checkout page.

Everyone hates extra costs

Remember the Baynard Institute’s research we discussed on the first step? According to the same research, extra costs are the number one reason why people abandon the cart, leave your store, and most likely are never coming back.

Not everyone can offer free shipping, but the fact that there are stores that can do so shall keep you alarmed. It’s recommended to show such costs as taxes together with the product price. Delivery calculators can be pretty useful too — implement it somewhere near the product so your customers can see the available shipping methods and consider the option that suits them the best.

Offer multiple payment methods

It’s not about your habits, it’s about your customers’. When it comes to payment methods, you should let them choose. Although it’s 2020 already, some websites still offer PayPal as their only payment method. PayPal is great, but not everyone has it or finds it convenient.

Make sure that you offer the most common payment methods to this day, such as credit/debit cards, Apple Pay, PayPal, and others. If you have business clients, be sure to offer to pay by bank transfer after they have received a bill.

Ready to try?

Stop losing customers and try these 5 solutions to optimize your Magento 2 checkout conversion rate. Compare the results before and after the optimization and we will be happy to hear how it went for you. In case of questions and deeper analysis of how your checkout could be optimized, please contact our team. We can’t wait to help your business grow!