The online retailer allows shoppers to pay for eyewear in installments, which is boosting GlassesUSA’s average order value.
GlassesUSA.com has a new prescription to fight cart abandonment: payment installments.
The online eyeglass retailer, No. 362 in the Internet Retailer 2016 Top 500 Guide, installed an option six months ago on its checkout page that allows shoppers to pay the cost of their order in installments. In the half year the retailer has had the feature, GlassesUSA’s cart abandonment rate has fallen 10%, says GlassesUSA CEO and co-founder Daniel Rothman
The installment payment feature also increased the retailer’s average order value by 12% for consumers spending more than $120 in products, Rothman says without revealing specifics. Internet Retailer estimates GlassesUSA’s average ticket value at $128, according to Top500Guide.com.
The payment feature required a few days to integrate onto the retailer’s site, Rothman says. GlassesUSA also wants to expand Splitit so it will show up as an option before a shopper lands on the checkout page—for example, on the product page. This way, the shopper may be more inclined to put a more expensive pair of frames in her cart, Rothman says.