At a certain point in the shopping/buying experience, regardless of how amazing and wonderful a retailers products are, consumers are going to question price and it isn't uncommon for them to avoid converting if the price is too high. Fortunately, there are some ways around this.
Installment-payments technology solution SplitIt, for example, enables retailers to offer monthly interest-free payment plans to their customers at checkout. Using a solution of this nature enables retailers to achieve increases in conversion rates, higher average orders and, of course, improvements to customer satisfaction - even without any greater risk than they have with regular credit card transactions. There are many sellers leveraging the solution today and they're seeing positive results.
Since first offering Splitit to customers 6 months ago, GlassesUSA.com has reportedly seen a 12% increase in high order value sales. Check out abandonment rate has also decreased by more than 10% for high order value baskets.
“Our customers are our first priority at GlassesUSA.com so we are happy to be working with Splitit to offer a payment option that offers them greater purchasing power and the convenience of paying on their existing credit cards”, said Daniel Rothman, CEO of GlassesUSA.com. “Since implementing Splitit, we have seen an increase in high ticket items sales which is a clear indicator to us that our customers are increasingly choosing this payment option and realizing the benefits it offers.”