What is checkout, and how does it relate to digital payments?
Checkout is the point in the shopping process where consumers finalize their purchases and pay a business for certain products or services. As the world market for ecommerce continues to grow, this term has become increasingly associated with digital payments, typically made via a dedicated, secure webpage. On this digital checkout page, customers enter their payment data and shipping information and choose their preferred shipping method. A final click allows customers to complete the process of checking out and submit their information to an online store.
Best company practices for an optimized checkout flow
The key to an optimized checkout process that avoids digital shopping cart abandonment is to make the experience as seamless, easy, and intuitive as possible for your shoppers. Be transparent on your site about your total shipping costs, delivery timing, and the cost of various products or services. Don’t require customers to sign in, remember their login information, or make an account in order to complete checkout—allow them guest access to the checkout feature. Allow your customers to edit or change their order at any time, including on the checkout page itself, and let them read through their order details to check that their order is just right before they complete their purchase.
What is a product detail page (PDP)?
A product detail page (PDP) on an ecommerce website is a web page that showcases information about a specific product to empower prospective customers to make a purchase. Ecommerce product detail pages can include product images, key features, product details such as dimensions or sizing, product descriptions, product reviews, product videos, shipping costs, and any other relevant information customers may desire prior to purchasing. This page category is crucial to the buying process when shopping online, as it helps customers decide whether or not to purchase specific products.
What makes a great ecommerce product detail page?
The most effective ecommerce product pages clearly show the value proposition of the product for consumers. An online store can achieve this with a combination of a descriptive product title, accurate product images, and product details woven throughout the page that clearly set customer expectations in terms of product attributes and pricing. For example, unexpected shipping costs can negatively impact customer satisfaction, so including shipping details directly on the product detail page can properly set customer expectations prior to the purchase. It can also be beneficial for ecommerce sites to leverage social proof on a product page to instill trust in the brand for potential customers.
What is a SKU (stock keeping unit)?
SKUs, or stock keeping units, are unique product codes that facilitate supply chain and inventory management for both online retailers and brick-and-mortar stores. The SKU architecture provides information on essential aspects of the product—color, size, style, price, etc.—and lists this information in order of importance. SKUs are intended to be unique to your brand, physical or online store, products, and customer base.
SKUs vs UPC codes
While UPC codes (universal product codes) and SKUs may look similar, they have different purposes. Universal product codes, or barcodes, are for external use and remain the same no matter who is selling their associated product, while SKU codes are used internally. While a SKU provides information on product traits, a UPC code identifies the item and its manufacturer. Additionally, SKUs are alphanumeric and between 8 and 12 characters long, while a UPC code is numeric and always 12 characters long.
SKUs and your inventory management system
One of the major ways your retail business can leverage the benefits of SKUs is by using them to accurately track inventory in real-time. This can allow you to assess your inventory levels more easily and know when you’ll run out of certain products so you have time to reorder. SKUs can also be a powerful tool for forecasting sales, increasing customer loyalty, and even leveraging cross-selling and upselling opportunities.