“People in all fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you gain a clear advantage.”

 (Moneyball)

It’s September, and while most people are winding down from Labor Day, for online shop owners like you, it’s not just the end of summer—it’s the start of something bigger. With Labor Day sales fresh in mind, you’re already looking ahead to the next big events: Black Friday on November 29th and Cyber Monday on December 2nd. These days mark the beginning of the high-sales season, a crucial period that can significantly impact your financial year. “In 2023, Cyber Monday alone generated $12.4 billion in online sales in the U.S, offering merchants a prime opportunity to boost revenue and expand their customer base.

As a Shopify merchant, you’re not just thinking about sales; you’re strategizing on how to handle the surge in traffic, optimize Shopify checkout process, and provide an exceptional shopping experience. While others are still months away from considering holiday shopping, you’re already preparing your store to capitalize on this peak season. Gone are the days when every operational detail needed hands-on management, platforms like Shopify offer integrated solutions for inventory management, payment processing, and marketing automation, enabling you to focus on scaling and enhancing customer satisfaction.

However, the platform also presents some challenges that need to be addressed to fully 

capitalize on the upcoming shopping season:

Understanding main checkout challenges with your Shopify app

1.Shopify’s built-in fraud detection can be overly conservative, leading to legitimate transactions being flagged as fraudulent. In fact, NoFraud’s analysis found that 84.4% of “medium risk” orders were actually safe, meaning most of these good deals were wrongly declined. 

2. International transactions and abandoned checkouts: Cross-border transactions are often flagged as high-risk, leading to higher false decline rates and increased cart abandonment.

3.Subscription and recurring payments: Recurring payment models on Shopify are particularly susceptible to issues with false declines because the platform relies on third-party apps for subscription management, which can lead to higher rates of payment failures and involuntary churn, causing significant revenue loss for businesses dependent on consistent income streams.

Proven ways to optimize your Shopify checkout process

Here are four effective strategies to optimize your Shopify checkout and prepare for the busy shopping season:

•  Third-party fraud tools: Tools like Signifyd or NoFraud offer more precise fraud detection, reducing false declines and maintaining customer trust by using advanced machine learning algorithms. 
• Multiple payment methods: Incorporate digital wallets such as Apple Pay, Google Pay, or PayPal to provide customers with more payment options.
• Streamline the checkout process: Simplify the steps required to complete a purchase by enabling guest checkouts and removing unnecessary fields. Bold Checkout, for example, offers customizable solutions that can help reduce cart abandonment and boost conversions.
• Real-time payment analytics: Solutions like ReCharge and Klarna provide real-time insights into payment trends, helping you anticipate and resolve potential issues quickly. 
• Recover lost revenue with AI: Bounce reduces false declines and enhances payment experiences using cutting-edge machine learning technology.

While these strategies are effective, they often lack a comprehensive solution that integrates false credit card decline analysis with data-supported insights into a single platform. That’s where Bounce’s new Shopify app comes in—with its Payment Health Analysis.

Now, with our new Shopify app, we go beyond optimization and enable data-driven insights from real payment date

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Meet Bounce: data-driven Shopify app

We are excited to introduce Bounce’s new Shopify app, powered by advanced machine learning to help Shopify merchants:

• Optimize financial performance and uncover hidden revenue streams. Our app offers comprehensive analysis, providing:
• Real-time monitoring of your store’s payment health and performance. With data-driven revenue insights, the app helps you identify trends and optimize for greater profitability. App also focuses on loss prevention by detecting potential issues before they impact your bottom line, ensuring financial stability.
• A user-friendly dashboard, the app offers a no-code, customizable interface, making it easy to visualize key metrics and make informed decisions quickly.

Needless to say, our app is seamlessly integrated with Shopify, enhancing your checkout process without any disruption to your existing workflow. 

Gain a clear advantage with data-driven payment insights

With Bounce’s payments health analysis, your e-commerce business gains a competitive edge by turning data into actionable insights. The app offers a comprehensive view of your payment flow, including:

• Total transactions
• Total declined transactions
• Decline rate 
• Credit card type distribution 
• decline rate per credit card type 
• Customer retries breakdown
• Decline rate by nationality 
• Decline reason distribution
• Bounce potential
• Decline rate for a certain period 
• Geographical trends

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This allows you to pinpoint revenue-draining issues and uncover hidden opportunities. By monitoring payment trends, decline patterns, and customer behaviors in real time, you can optimize your checkout experience, reduce declines, and enhance revenue capture. This holistic approach not only improves financial performance but also equips you with the knowledge to make strategic, data-driven decisions that propel your business forward.

With proven results, Bounce will bring in the best position for the e-commerce high season. Explore our new app on the Shopify App Store today.

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