Did you know that by 2021, the global cross-border B2C e-commerce market is projected to more than double, reaching $424 billion?
To help online retailers take advantage of this burgeoning opportunity, Trustly’s Head of eCommerce, Luke Flomo, spoke last week at eCommerce Expo about how to localize your checkout.
Doing so is key to curbing cart abandonment and optimizing conversion, explained Flomo, and he presented 6 key actions that online retailers can take to improve the shopper experience:
- Offer items in local currency
- Adjust language and tone of voice
- Publish local seals of approval
- Optimize website for preferred mobile devices
- Offer localized payment choices
- Streamline the checkout UX
Of these, he pointed to offering localized payment choices as one of the most important because many of the reasons shoppers abandon their carts are related to payments. (According to Adyen’s 2018 Retail Therapy Report, UK shoppers point to reasons like having to fill in payment card details (39%), delivery costs being too high (36%), lack of relevant payment options (29%), and a lengthy online payment process (28%).)
A study conducted by Trustly revealed that 77% of consumers said that payment method choice affected their decision to purchase with an online retailer, and this sentiment was especially true among consumers in Spain, Estonia, Germany, Poland, Finland and Sweden. Given that payment choice is a big driver of conversion, Flomo said, understanding the payment preferences of those markets is crucial in optimizing your checkout.
Want to learn more about how to optimize your checkout to capitalize on cross-border e-commerce? Visit trustly.com/ecommerce or reach out to firstname.lastname@example.org.