Integrated Shopping Experiences Reduce Cart Abandonment and Increase Average Order Value
Las Vegas, NV - April 25, 2018 — Magento Commerce, the worldwide leader in cloud digital commerce innovation, today announced advancements to its flagship platform. New integrations with Amazon Pay, Klarna, and Vertex expedite the checkout process, provide flexible payment terms, and deliver instant and accurate tax and shipping rates. These new capabilities, combined with cloud product enhancements, improve performance and security, and help customers increase conversion rates, reduce barriers to larger order values, and create exceptional shopping experiences.
According to Baymard Institute, 28 percent of consumers say that the online checkout process is too long, leading to high cart abandonment and the loss of potential sales. The latest Magento release includes new out-of-the box integrations that create faster checkout experiences and add more payment options to increase conversion rates and encourage repeat purchases. An integration with Amazon Pay streamlines the check-out process by using information from a customer’s Amazon account to login and pay on Magento storefronts. The new integration with Klarna makes it easier for shoppers to pay in installments or on credit, removing affordability concerns and creating an overall better experience.
The new integration with Vertex and Magento Shipping also provides tools that can save merchants time and minimize cart abandonment. Order price and shipping costs are automatically updated during the final check out process, eliminating unexpected costs. This combination also helps merchants reduce manual processes and ensure compliance across jurisdictions through seamless tax calculations, returns, and exemption certificates, easy access to carriers, shipping rates, and returns.
“We are always on the lookout for innovative solutions to drive conversion rates,” said Dennis Koptiz, director of eCommerce at Shinola. “With Magento and Amazon Pay, we now have a powerful and flexible commerce solution coupled with a faster checkout experience. The integration with Amazon Pay has helped us expand our online business and capture more sales. Our customers appreciate how easy it is to log into our store and complete a purchase – it’s been a critical part of our online growth.”
Since the launch of Magento Commerce Cloud, the company has accelerated the pace of innovation with over 500 enhancements in the past year alone. This latest release delivers new cloud capabilities and innovative performance initiatives, including flash sales, simplified deployment, and enhanced business intelligence for deeper insights into omnichannel performance.
“The average combined sales growth of our customers year-over-year has been more than 80 percent,” said Jason Woosley, SVP, Product and Technology at Magento Commerce. “With this new release, merchants will continue to streamline their checkout and payment processes and tap into the power of the Magento Commerce Cloud to support and simplify the management of their commerce sites.”
This release was announced on stage at Imagine, The 8th annual Magento conference which brings together more than 3,000 eCommerce experts. These new capabilities are integrated into the Magento Commerce platform and will be available in early May 2018.
About Magento Commerce
Magento Commerce is the leading provider of cloud commerce innovation to merchants and brands across B2C and B2B industries, with more than $155 billion in gross merchandise volume transacted on the platform annually. In addition to its flagship digital commerce platform, Magento Commerce boasts a strong portfolio of cloud-based omnichannel solutions that empower merchants to successfully integrate digital and physical shopping experiences. Magento Commerce is the #1 provider to the Internet Retailer Top 1000, the B2B 300 and the Top 500 Guides for Europe and Latin America. Magento Commerce is supported by a vast global network of solution and technology partners, a highly active global developer community and the largest e-commerce marketplace for extensions available for download on the Magento Marketplace. For more information, visit at www.magento.com.