Retailers must remove barriers to payment and personalise the process to improve conversion, said Klarna head of expansion Jens Saltin at Drapers Fashion Forum today.
Saltin spoke on changing mobile shopping habits among fashion consumers at the event held at 30 Euston Square in London, attended by more than 300 fashion industry professionals. He cited the fact that 34% check out on desktop, versus 18% on mobile, and that 5% and 1.5% exit at the payment stage on both devices, respectively.
“We personalise the product pages, so why don’t we personalise the payments process?” he asked delegates. “What we do at Klarna is personalise the check-out stage the same way you do with the rest of your user experience. The customer shouldn’t have to jump through hoops.”
Saltin advocated “trusting” customers and allowing them to “pay at their convenience” at a later stage, rather than making them fill out up to 15 fields to complete their purchase.
Instead they should be presented with fewer questions, he said.
Klarna’s payment process goes on to work out if the consumer can be “trusted”. Saltin claimed this can improve conversion to 90%.
“Each additional step in the purchase flow damages conversion,” he said.
He cited InterSport as an example: the international sportswear retailer experienced a 25% increase in conversion on desktops and 115% on mobile since adopting this payment process.