Without a great checkout process like Magento 2 One Step checkout, checkout process will be where most of the online businesses die. Actually, the shopping cart abandonment rates are really high, as some studies can show that it can be up to 80%. And even the average of 68% will tell you how much money you have lost due to shopping cart abandonment and no Magento 2 One Step Checkout.
Now let’s see How much money is lost due to shopping cart abandonment?
_ Monthly checkout visits. Let’s pretend you have 25,000 monthly checkout visits. Keep in mind, these are merely visits, certainly not income. A visit is understood to be any consumer which started to purchase something. Possibly these people opted for item and hang this of their shopping cart software, or they will begin to fill in their own transport data, and so forth. _ Average order value: Further, let’s say the average shopping card order is $200. _ Abandonment rate: Finally, let’s assume that your shopping cart abandonment rate is 67% — right at average. _ Shopping cart abandonment is costing you $3,350,000 each month, or $40,200,000 annually. What could your business do with an extra $3.5 million monthly, or $40 million annually? That’s why you need a great Magento 2 One Page checkout to save your money.
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