In the swiftly changing tides of e-commerce, a new report indicates that the traditional online shopping cart is facing obsolescence. Alarmingly, statistics reveal a staggering 78.1% downturn in businesses that rely solely on online checkout processes with no alternative transaction options.
This decline is attributed to the impersonal nature of current checkout systems, which lack meaningful engagement with customers. As social commerce accelerates, businesses that fail to adapt are at risk of being eclipsed by more agile competitors who understand the need for personal touchpoints in the digital marketplace.
Jason Mace, CEO of Gala Technology, said: “The reality is stark; the digital checkout as we know it is fading away. Companies that ignore this trend are not only halting their growth but are actively regressing. In this digital revolution, engagement is currency, and payment options must be as diverse and dynamic as the market itself.”
Chris Evans, Business Development Manager at Gala Technology, added: “The way Millennials and Gen Z interact with e-commerce is radically different. They do not just buy products; they seek experiences. Personalisation, authenticity and convenience are key. Our solutions are designed to bridge this gap and provide the seamless and secure payment experiences that these demographics demand.”
Gala Technology is spearheading initiatives to combat the decline of the online shopping cart by offering innovative payment solutions that cater to the digital-first consumer. These include:
- Personalised touchpoints: Understanding that personalisation is at the heart of the online shopping experience, Gala Technology provides tools for brands to leverage data analytics, offering customised content and recommendations.
- Embracing social commerce: With the rise of social media as a marketplace, Gala Technology’s platforms enable transactions directly through social channels, tapping into the buying power of younger consumers.
- Sustainability commitment: Recognising the importance of sustainable practices, Gala Technology supports brands in their quest to meet the environmental expectations of modern shoppers.
- Mobile optimisation: Gala Technology ensures that mobile shopping is a smooth and efficient experience, acknowledging the need for a mobile-first approach to cater to the on-the-go lifestyle of the younger generations.
- Influencer collaboration: Understanding the impact of authentic advocacy, Gala Technology aids brands in crafting genuine influencer partnerships.
- Exemplary customer service: Gala Technology’s solutions enhance customer service capabilities, enabling quick and effective communication across preferred platforms.
- Flexible payments: Offering a variety of payment options, including instalments and digital wallets, Gala Technology’s services are designed for the financial habits of Millennials and Gen Z.
- Omnichannel experience: Bridging the online-offline gap, Gala Technology equips brands with the ability to create a unified and cohesive customer journey.
- Robust data security: Prioritising consumer trust, Gala Technology adheres to stringent data security and PCI DSS Compliance standards.
- Future-ready innovation: Anticipating the evolving needs of the digital consumer, Gala Technology invests in emerging technologies like AI (Artificial Intelligence) and ML (Machine Learning) to create immersive and personalised shopping experiences.