Facebook and Instagram Shops are adding Shopify as a payment option which is estimated to increase conversion rates by 1.72x.
All Shopify merchants selling on Facebook and Instagram can now offer Shop Pay as a checkout option for customers.
Checking out with Shop Pay is said to be 70% faster than a typical checkout, which is due in large part to how it pre-populates customer details such as billing and shipping information.
When a customer uses Shop Pay for the first time their information is stored for future purchases. Next time they checkout with Shop Pay they can speed through the process with a simple tap.
This marks the first time Shop Pay has been available outside of Shopify. For businesses, the expansion of Shop Pay means more sales and fewer abandoned carts.
In a study of 10,000 of the largest Shopify merchants with Shop Pay enabled it was found that checkouts going through Shop Pay have an average checkout-to-order rate of 1.72x higher than those going through regular checkouts.
That number is even higher on mobile, where Shop Pay increases conversion rate by 1.91x.
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“While Shop Pay’s conversion advantage is evident across both mobile and desktop, it is significantly improved on mobile, where Shop Pay checkouts convert at a 1.91x times higher than regular checkouts. This is a massive advantage for direct-to-consumer brands, where conversion on mobile can be the difference between making money or losing money.”
Shopify merchants can enable Shop Pay by following the steps laid out in the next section.
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How to Enable Shop Pay
Shopify merchants can enable Shop Pay in a few simple steps:
- From your Shopify admin, go to Settings > Payments.
- In the Shopify Payments section, click Manage.
- In the ACCELERATED CHECKOUTS section, check Shop Pay.
- Click Save.
Now your customers can use Shop Pay to check out on your store.
In an announcement, Shopify emphasizes the benefits Shop Pay has provided to businesses since it launched in 2017:
“With Shop Pay now available as a fast and secure payment option on Facebook, people also get access to industry-leading order tracking and carbon offsets from their deliveries.
Shop Pay helped buyers complete more than 137 million orders in 2020, and by the end of the year, had facilitated nearly $20 billion in cumulative GMV since its launch in 2017.“
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Shop Pay will first become available to all Shopify merchants using checkout on Instagram in the US, and will be rolled out to Facebook in the coming weeks.
When Shop Pay is available in Instagram and Facebook, users will be able to find tagged product in the app and add them to their cart.
At checkout they will have the option to select Shop Pay as their preferred payment provider among other choices such as credit card, debit card, and PayPal.
When the order is completed, customers can conveniently track the progress using Shopify’s Shop app.
Shopify merchants in the US can sell products directly through Facebook and Instagram using tools that were introduced last year. Shop Pay will automatically be enabled in Facebook and Instagram Shops if it’s enabled in the merchant’s main Shopify store.
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For more details on Facebook and Instagram Shops, see our coverage here:
via https://AiUpNow.com February 13, 2021 at 08:41PM by Matt Southern, Khareem Sudlow,
