Fanatics Taps Bolt for One-click Checkout Technology
Bolt and Fanatics have kicked off a multiyear partnership to implement Bolt’s “One-Click Checkout” solution across all Fanatics-owned, affiliate and partner e-commerce sites.
“Fanatics is the first enterprise customer to implement Bolt’s headless checkout technology — benefiting from the flexibility of an API-based, modular checkout experience without having to replace its existing user interface,” a Bolt spokeswoman said.
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Terms of the partnership were not disclosed.
Deploying the solution at Fanatics follows recent data from Coresight Research revealing that the online cart abandonment rate for the retail industry is 75.7 percent. “This staggering statistic, worsening from prior years, points to numerous shortcomings with the online shopping and checkout process that are leading to shopper frustration,” Bolt stated, also noting that the Coresight research found that guest shoppers are more likely to abandon their carts. The survey showed that logged-in users drive a 36 percent higher conversion rate as compared to guest shoppers.
Bolt sees this as a missed opportunity for U.S. retailers “that lost an estimate of hundreds of billions of dollars in 2022” due to cart abandonment.
Bolt’s solution provides brands and merchants with a seamless, logged-in checkout experience that is aimed at driving conversions and repeat purchases as well as increasing lifetime customer value for Fanatics “while also fueling the company’s new customer acquisition efforts by connecting the sports brand with Bolt’s growing network of tens of millions of checkout-ready shoppers.”
Other sporting goods brands using Bolt include Rossignol, La Sportiva and Carver Skateboards, among others.
In a statement, Bolt described Fanatics as one of the top e-commerce merchants in the U.S., “with a rapidly growing customer base and affiliate ecosystem. Understanding the importance of innovating ahead of the curve, Fanatics has worked hard to develop a superior online shopping experience for its customers.”
Bolt said with this partnership, Fanatics will integrate its existing user interface “with Bolt’s headless, modular checkout architecture to significantly improve the shopper checkout and payment experience across Fanatics e-commerce sites.”
