One of our irish clients recently performed a study of checkout conversions before and after installing OneStepCheckout for their online store www.thecorkscrew.ie. They setup Google Analytics goals with funnels to see how many got lost in the checkout process. They monitored this for a week before installing OneStepCheckout and a week after. Here are the results.
Results with the default Magento checkout:
As you can see from the results above, 16% of customers that added a product to their cart completed the purchase and ended up as a sale. Now, when they switched to our Magento checkout module, their conversions dramatically increased.
Results with OneStepCheckout:
As you can see from the above screenshot, their conversions increased from 16% to a whopping 43%. That is an increase of 169%, which will lead to more than double the revenue generated with the default Magento checkout.
The people behind OneStepCheckout are convinced that simplifying the checkout process will lead to dramatic results in conversion. And after being online for over a year with our Magento checkout module, there is nothing that tell us otherwise. We are now approaching 2500 installations of our module in Magento stores all over the world, and the demand has never been bigger.
Also one should consider that each store and demographic is different – we can of course not claim that all Magento stores can increase revenues by 169% by switching to our module. There is a ton of factors involved, like the text-content on the site, usability, shipping costs, product costs and a lot more. But the checkout process is definetely a crucial part where it is easy to lose customers by having it too complicated.
Thanks to www.thecorkscrew.ie for sharing their results with us!