Shopping cart

How multiplayer shopping is redefining the cart

E-commerce and innovation are synonymous in today’s ever-expanding digital economy, but something as universal as the online shopping cart has remained largely unchanged. That is, until now.

Online businesses are constantly refining their online presence (with engaging on-site content, streamlined user journeys, and more) to remove barriers to converting their customers. However, with 75% of all online shopping carts abandoned worldwide, the pain of losing customers at the last hurdle is felt by every online business.

Part of the problem is the restrictive nature of online shopping carts themselves, as they generally cannot be shared; in essence, shopping carts are private to the person shopping. This feature (or bug, depending on your perspective) means that in-store experiences – like one person shopping and another paying at the checkout – are a cumbersome and often impossible task that doesn’t translate into the online space.

To solve this problem, new players in the payments space like YouPay, a financial technology company based in Brisbane, Queensland, are making shopping carts shareable to help online stores drive more sales through a whole new payment path. ‘purchase.

What are the advantages of shareable baskets?

The concept of multiplayer shopping means that online shopping carts can be created and shared by one person, then viewed and paid for by another person.

This means that beyond paying for yourself with available funds or pushing payments on the road with Buy Now Pay Later services, separating purchases from payment gives shoppers a whole new seamless path to purchase. , which means more opportunities for customer engagement, cart creation, and sales.

The third-party payment market is apparent in acute scenarios like gifts (birthdays, anniversaries, holidays), business purchases, and charities, while lowering the conversion bar on typical purchases where one person shops and another nobody pays.

Beyond someone else picking up the bill at checkout, shareable shopping carts allow your customers to share your products with friends, family, and more directly, on social media and other online spaces.

Ultimately, by giving each cart created the potential to be shared and paid for by a third party, online stores can empower their customers and increase potential sales, customer acquisition, and deepen customer insights. a way that has never been possible before.

A case study of multiplayer shopping in action

The theoretical potential of multiplayer shopping – giving customers more ways to pay for their order and more reasons to buy from your store – is enticing, but can it deliver results?

While shopping cart sharing technology like that of YouPay is in its infancy, online stores are already finding ways to convert more shopping carts and improve their brand presence using it.

Australia’s largest online alternative fashion store, Beserk, launched with YouPay earlier this year, and has seen a significant increase in sales and customer acquisition:

  1. 28% of all Beserk sales come from YouPay orders (as of May 13, 2022)
  2. 20% of all new customer acquisitions are through YouPay (as of May 13, 2022)

For an established online business with a large customer base, these results demonstrate an understanding and appetite for the flexibility and functionality that shopping cart sharing offers online shoppers.

What could this mean for your online business?

Multiplayer shopping offers buyers, payers, and merchants a way to socialize e-commerce to their own advantage.

Shoppers can create carts with the exact items they want, payers can pay with peace of mind, and merchants can benefit from an empowered customer base that has more reasons to buy and more ways to pay.

As more businesses attempt to bring the in-store experience online to enhance their brand and stay ahead, the concept of making shopping carts collaborative is a natural extension of today’s rich digital landscape. interactions.

With this in mind, and seeing the first results of cart sharing in existing online businesses, multiplayer shopping will continue to expand its reach and level of customer adoption.