High conversion also seen in shopping sprees
Black Friday alone broke its own records and provided a tremendous peak in revenues – as I covered in my last article. But discount events like Black Friday and Cyber Monday are just a high point in the wider Christmas business. Statista* forecasts that the online share in the German Christmas business will rise to 18.3 percent. Last year, it came to 14.4 percent. The corona pandemic continues to drive people away from highstreet shopping and into online stores. Many will even come to prefer this new routine. In other words, online retail can expect more, perhaps multiple peak seasons per year and may have to prepare for extremes. But what does that mean exactly?
It’s to be expected that web shops and order management systems will be overwhelmed by the flood of transactions more often. But the purchase process including check-out should not take too long, otherwise customers will walk away. The aim is to filter out the attempts at fraud from the mass of orders, while not supressing the conversion rate with too many rejections. Nothing is more frustrating than sinking revenues due to preventable deficiencies in customer and financial processing. So, it has to be quick. And we’re talking about processes in the background running in fractions of a second.
In fierce online competition with many comparable offers, these milliseconds can make all the difference when it comes to winning over and keeping customers. This calls for automation for implementing seamless check-out processes for this surge of simultaneous orders.