The future of commerce is frictionless

Beth Ann Kaminkow, Global Chief Commerce Officer and CEO NY at VML, reveals why prioritising seamless experiences is crucial in the age of compressed commerce

In today’s hyper-competitive digital landscape, attracting customers is harder and more expensive than ever. Once you’ve earned their attention, converting that interest into sales requires a seamless and frictionless experience. Anything less, and you risk losing them to a competitor who's mastered the art of "compressed commerce".

At WPP, we understand this challenge. We’re committed to helping brands navigate the complexities of the modern commerce landscape while maximising their revenue potential. Our recent recognition as the first global partner to achieve the Stripe Services Specialisation underscores this commitment. This prestigious award highlights our expertise in leveraging Stripe's powerful platform to create exceptional commerce experiences.

Our latest research, conducted in partnership with Stripe, reveals just how crucial frictionless experiences are. The report, Hard to Attract. Easy to Lose., found that brands are losing nearly half of their website visitors during the purchase process. This alarming statistic highlights the urgent need for businesses to prioritise streamlined checkouts and personalised experiences. It calls for rethinking the ‘path-to-purchase’ beginning with the purchase forward.

This research along with the recent VML Future Shopper 2024 Report emphasises the growing importance of "compressed commerce" – with 63% of consumers stating they want to move from inspiration to purchase as quickly as possible. This isn't just a millennial trend; consumers of all ages crave speed and efficiency. Slow page load times, complicated checkout processes, and a lack of preferred payment options are all major friction points that can drive customers away.

So, what can brands do to win in this new era of commerce?

  • Prioritise speed: Optimise your website for fast loading times, especially on mobile devices. Implement express checkout options like one-click purchasing and integrate popular digital wallets like Apple Pay and Google Pay.
  • Personalise the experience: Tailor product recommendations and offers based on individual customer preferences. Ensure your checkout process dynamically surfaces the most relevant payment options based on location and device.
  • Embrace unified commerce: Create a seamless experience across all channels, both online and offline. Allow customers to access purchase history, customer support, and loyalty programmes regardless of how they choose to interact with your brand.;
  • Leverage the right technology: Partner with experts like WPP and Stripe to build a robust and scalable commerce infrastructure. Our Stripe Services Specialisation allows us to help you implement the latest payment technologies and optimise your checkout flow for maximum conversion.
  • Don’t forget the role of creativity: Consumers are craving creative, entertaining engagements from brands at the point of conversion. The tools to make this a reality are available bringing together the about points and delivering a branded moment at purchase going from transaction to memorable interaction.

The future of commerce is frictionless. By focusing on speed, personalisation and a unified approach, brands can capture the attention of today's demanding consumers and drive sustainable growth.

For more information on WPP’s Stripe Partnership and to engage WPP’s community of Stripe experts, visit Stripe’s partner spotlight.