‍What Makes Shopify Checkout The World’s Best For Conversions? The Proof Is in The Stats

To solidify their claim as “the world’s best converting checkout”, Shopify collaborated with a top-tier global management consulting firm, who independently analysed data from all significant global e-commerce platforms.

Following months of independent research, the consulting company discovered that Shopify's overall conversion rate surpassed the competition by up to 36% - with an overall average of 15%. This result also highlighted the effectiveness of Shop Pay, Shopify’s fast one-click checkout solution. Shop Pay can enhance conversion by as much as 50% in comparison to guest checkout when deployed, exceeding other quick checkouts by at least 10%. The study concluded that the mere existence of Shop Pay could boost lower funnel conversion by 5% alone.

The secret to Shopify's superior checkout is rooted in four benefits: a vast identity network, unparalleled scale, consumer trust, and an unbeatable speed of innovation. Through these advantages, Shopify outshines its competitors in comparable samples by up to 36% and by an average of 15.2%. Let’s dive deeper into what makes Shopify Checkout so lightning fast.

The Shopify Identity Network

The future of commerce is heavily tied to identity-driven digital wallets, and Shopify’s handy Shop Pay feature is their implementation of this - providing one account, and one sign-in to be used across multiple online stores. As a result, Shop Pay excels at streamlining checkout, due to its vast identity network, over 100 million high-intent customers strong, which enables one-click checkout across the millions of Shopify stores on the web. The result is a four-times faster checkout process than a guest checkout. 

Shopify's approach to checkout personalisation helps eliminate friction from the customer journey, ultimately resulting in higher conversion rates for businesses around the world.

Unbeatable Scale

Shopify’s sheer scale enables it to serve millions of brands and cope with everything from small start-ups, to giant global brands and everything in-between. 

Responsible for about 10% of U.S. e-commerce, Shopify has processed over half a trillion dollars in GMV (Gross Merchandise Value) and supported 561 million unique online shoppers in 2022. The company leverages this vast data volume to improve the checkout experience continuously.

Shopify Checkout effectively manages critical annual sales events such as Black Friday by effortlessly processing high volumes that could overwhelm many other e-commerce platforms and custom builds. 

During the peak winter sales event in 2022, Shopify Checkout demonstrated its capabilities by handling $7.5 billion in total sales and processing $3.5 million in sales per minute. There was even an instance where one brand witnessed more than 40,000 buyers checking out simultaneously for several minutes, with no technical issues. This showcases that if Shopify Checkout can handle the demands of the world's most popular retailers, it can certainly cater to all retailers big or small.

Trustworthiness & Innovation

The trust consumers place in Shopify stems from hundreds of millions of users engaging with Shopify Checkout every year. Its distinctive look and feel have become a recognisable sight on the web that consumers can trust. Not only is Shopify Checkout recognisable, but it also offers an accessible, smooth and easy-to-use experience. 

This seamless user journey, coupled with Shopify's reputation for innovation, maintains their lead in conversion rates. The company's team of engineers devoted solely to checkout optimisation exceeds the number of engineers some competitors assign to their entire e-commerce platform! 

Shopify offers brands all the essential checkout components, allowing for customisation to cater to individual needs. Their model lowers the total cost of ownership, speeds up the time to market, and quickly responds to evolving buyer demands. This capacity to customise has been instrumental in establishing Shopify's Checkout as the world's highest-converting checkout system.

Time For The Sales To Start Rolling In

With the unbeatable ease and ubiquity of Shop Pay, the might of Shopify’s unmatched scale and bulletproof back-end, almost two decades of consumer trust, as well as a relentless speed of innovation, it’s clear why Shopify Checkout is the world leader. 

So if you’re already on Shopify and want to take advantage of more advanced features like Shop Pay, or you’re on a different platform and you’ve got checkout envy, get in touch with us - as a Shopify Plus agency, we can help you make the most of the world’s leading e-commerce platform.