Bold Checkout: Buy Now Lets Major Retail Brands Offer Amazon-Like Functionality Across All Owned Channels Without Sacrificing Customer Relationships or Checkout Customization Needs
Bold Commerce, the ecommerce technology company that powers checkout and subscription experiences for the world’s leading retailers and emerging DTC brands, announced its new Bold Checkout: Buy Now solution. Part of a growing checkout ecosystem designed to let retail brands completely customize every part of their checkouts, the new solution gives brands an owned alternative to third-party digital wallets and pay now options.
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“Without the ability to improve, shoppers dropping off during the checkout process is a big contributor to the 70% cart abandonment rate experienced by brands industry-wide. Our one click solution demonstrates that it’s possible for retailers to both streamline the shopper’s checkout process and completely customize the entire customer journey. ”
Now, brands can offer shoppers Amazon-like one-click functionality directly from their owned channels, without sacrificing shopper relationships or checkout customizations.
For the majority of brands, one-click checkout solutions are currently limited to third-party digital wallets and quick pay-now options, such as PayPal, Google Pay and Apple Pay. While these solutions address retail brands’ desire to let shoppers checkout faster, they introduce fragmented experiences and require brands to hand off their shoppers at the most critical moment in their shopping journey. Brands that opt for them also have to compromise features that are important to customers and to their business model (e.g., in-store pickup or the ability to collect loyalty points as part of the buy now experience).
With Bold Checkout’s Buy Now, brands can offer quick payments to get shoppers through checkout faster without sacrificing customer loyalty, brand or nuanced business requirements. Brands own the entire checkout experience and maintain full control over the customer relationship during and following purchase.
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Seven ways Bold Checkout: Buy Now is different than other one-click payment solutions:
- Any retailer-owned touchpoint is now shoppable. Using stored address and payment credentials from customers’ accounts, Bold Checkout’s Buy Now reduces friction for repeat buyers, getting shoppers through checkout faster and increasing conversion rates.
- It’s a seamless part of the brand’s checkout, not a third-party experience. Unlike digital wallets, which act as a separate tack-on and take over the entire checkout experience, Buy Now is fully integrated into the look, feel and flow of a brand’s experience.
- Brands retain their customer data and relationships. More than ever, brands and retailers are committed to identifying their shoppers and nurturing long-lasting relationships. With Buy Now, brands no longer need to pass off the shopper–or their information–to a third-party at the most critical moment in their journey.
- Quick checkout that’s customizable to the unique needs and requirements of a brand’s business, not just its visual brand. It’s not enough to customize the look and feel of third-party checkout; with Buy Now, brands can customize the entire checkout logic to meet the buying needs of customers and the brand’s business model (think BOPIS, adding promo codes, or paying with loyalty points)–all with the goal of maximizing shopper conversion.
- Tailor the checkout experience based on customer context. For shoppers that get to checkout quickly from channels like social media, ads or emails, where they have less context than they would on a brand’s site, it’s critical that they have all the information they need in checkout. With Buy Now, brands integrate with core business logic, shopper profiles and inventory availability, tailoring the experience to the shopper scenario.
- Support for complex pricing scenarios and subscription products. Buy Now is powered through Bold Checkout, meaning it supports complex and conditional pricing scenarios, such as location-based pricing, B2B or employee pricing; and upsell offers to select customer segments during checkout. In addition, brands can turn one-time shoppers into loyal customers by seamlessly offering subscriptions before and during checkout.
- Beyond “Buy Now.” Introducing “Donate Now” and “Subscribe Now.” Bold Checkout’s Buy Now is the only solution in the market that enables ‘Donate Now’ and ‘Subscribe Now’ options using the one-click payment format.
“Today brands have one checkout experience through their ecommerce platform, and it’s costly and complex to change,” said Yvan Boisjoli, CEO and co-founder of Bold Commerce. “Without the ability to improve, shoppers dropping off during the checkout process is a big contributor to the 70% cart abandonment rate experienced by brands industry-wide. Our one click solution demonstrates that it’s possible for retailers to both streamline the shopper’s checkout process and completely customize the entire customer journey.
Currently, brands are not optimally monetizing traffic they’re driving to emails, blogs, social media channels and even in store. Through the introduction of a headless checkout solution like Bold Commerce’s Checkout Experience Suite–which houses its new Buy Now technology–brands can put checkout capabilities anywhere, customizing and unifying these embedded commerce experiences.
Bold Checkout has been adopted by users of major ecommerce platforms and can replace or be implemented alongside a platform’s existing checkout to create additional checkout journeys or “flows.” These flows can further be tailored based on origin, device type, and shopper segment to increase conversion and make more customer touchpoints shoppable.
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