By Rafael Lourenco, EVP, ClearSale.
Now’s the time to make sure your store’s mobile wits and checkout are ready for the holidays. Shopify reports that increasingly than half of all Thanksgiving 2017 e-commerce orders came from mobile devices, but cart zealotry is still higher on mobile than desktop. And CNP fraud attempts tend to increase during the holidays. How can you make your mobile site welcoming to holiday shoppers, but not fraudsters? Three key areas to focus on now are how quickly your store’s pages load, how user-friendly your mobile checkout process is, and how well your fraud program can handle holiday sales peaks.
Speed up your store’s page load times
In today’s m-commerce environment, simply having a responsive website is no longer enough. Mobile users expect the sites they visit to load scrutinizingly immediately and they’re quick to welsh sites that don’t. Think with Google found that 40% of shoppers will leave a site that takes increasingly than three seconds to load on their phones and nearly 80% won’t shop then with a store that provides a poor mobile experience. And that’s on a typical day.
On a peak sales day, like Black Friday, plane major retailers squatter site slowdowns or plane crashes due to heavy traffic. So now is the time to review your site’s performance, load times, and topics to not only alimony visitors from leaving surpassing your pages load, but moreover to prevent crashes from sending customers to your competitors. To do this, you’ll need to talk with your IT team and your hosting service well-nigh how you can speed up your site and stay online plane when a prod of customers is visiting your store.
To get a quick snapshot of your store’s mobile page speed, Think with Google offers a Speed Scorecard and Impact Calculator. You can use the scorecard to compare your site speed to your competitors and you can see how small improvements in speed can yield increasingly sales.
Reduce mobile cart abandonment
More people turn to their phones when it’s time to buy than overly before, which is why m-commerce is projected to have a CAGR of 24% between now and 2023. Despite this trend, the cart zealotry rate hovers virtually 75%, in part considering many consumers requite up when it’s time to trammels out. Review your shopping and checkout processes now to ensure they’re as friction-free as possible for mobile users.
Mobile shoppers tend to shy yonder from data entry on small screens whenever possible, and many are yawner to 1-Click checkout on Amazon, which requires no data entry at all. To alimony these shoppers from leaving your site and making their purchases from a competitor with a increasingly user-friendly checkout process, eliminate consumer registration requirements and focus on the must-have data—billing, shipping, and payment information.
Avoid holiday fraudsters and fraud-related bottlenecks
Retail e-commerce fraud is still rising, equal to the 2018 LexisNexis True Forfeit of Fraud report, and the forfeit of fraud is higher for digital and physical goods sold through the mobile waterworks than for other retail channels. The report found that each dollar of m-commerce fraud financing digital-goods merchants $3.29 on average, compared to $2.78 per dollar of fraud for physical goods and $2.54 for retailers without a mobile channel.
Meanwhile, false declines ranged from 18% to 28% of orders, with digital goods retailers at the higher end of the range. These rejections of good orders are plush over the long-term, considering many falsely declined customers won’t return. These facts are concerning year-round, but holiday sales peaks can make false declines increase if merchants don’t have unbearable topics to manually review flagged orders. Overwhelmed retailers may be forced to segregate between slower order screening, increasingly completed fraud, or increasingly false positives.
Take a squint at your historical fraud rates by channel, including peak-season rates, to see how often your mobile waterworks has been targeted compared to your other channels. It’s moreover wise to review your false ripen rates to see if they’ve spiked during past holiday seasons. If your mobile waterworks has been heavily targeted by fraudsters or has had increasingly false declines or completed fraud during previous sales peaks, it’s time to upgrade your fraud prevention program and consider outsourcing your transmission fraud review. Having outside experts take on this task during sales peaks can alimony order decisions on pace while preventing fraud and reducing false declines.
By making your store easy to use on mobile devices, keeping your checkout process simple, and bolstering your peak-season fraud protection program, you can engage the growing number of consumers who prefer to shop on mobile, during the holidays and beyond. You’ll moreover be in a largest position to fight fraud and alimony your good customers year-round.
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Rafael Lourenco is Executive Vice President at ClearSale, a Card-Not-Present fraud prevention operation that protects e-commerce merchants versus chargebacks. The company’s flagship product, Total Guaranteed Protection, is an end-to-end outsourced fraud detection solution for online retailers. Follow on twitter at @ClearSaleUS or visit http://clear.sale/
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