There’s great news for retailers this week: Amazon no longer has a patent on the 1-Click Purchase.
Amazon filed the 1-Click patent way back in 1997 and it officially expires on September 11, 2017. Now, any ecommerce business can add the technology behind single click checkout to their own site — without paying Amazon a cent for the privilege.
With this payment method technology up for grabs, every retailer should be celebrating and planning to use it immediately. One-click buying can quickly and easily drive better conversion rates for your ecommerce business simply by saving credit card and shipping information. Learn how you can get the most out of this opportunity, and start driving more revenue for your business.
A valuable ecommerce technology
The technology behind 1-Click ordering isn’t particularly complex — anyone with a minimal amount of coding knowledge could create an online shopping experience that saves the buyer’s credit card and shipping information at checkout. Amazon’s stroke of genius was simply applying for the patent first, ensuring that anyone who wanted to use the technology had to license it from them for 20 years.
Because of this far-sighted thinking, Amazon ensured they had an advantage over every other retailer on the internet. As a revenue-generating tool, 1-Click could be worth as much as $2.4 billion to Amazon. Combined with programs like Amazon Prime, it allowed the company to absolutely dominate commerce online. But now, any ecommerce brand has access to the easy checkout that has given Amazon an edge for years.
The power of 1-Click for your business
It may seem like a small change to your checkout process, but any barrier between your buyer and a purchase can make them re-think their decision. In fact, almost half of all abandoned carts are left behind because of something at checkout, according to research by Business Insider. Shopify dug into this problem even further and found that 21% of customers said they abandoned a purchase specifically because checkout process was simply taking too long and they left their shopping cart in frustration.
This is exactly where 1-Click can help your business. By simplifying and streamlining your checkout process, it makes it more likely that buyers will go through with a purchase overall. Every step that you eliminate in the process makes it easier for your customers to have a positive experience and buy time and time again.
Drive repeat purchases
In addition to driving down cart abandonment, 1-Click ordering is also a fantastic incentive for your returning customers. Your first-time buyers will always have to take the time to input their credit card and address, but if they’ve bought before, one-click checkout makes buying easier and far more appealing.
One-click checkout will help you drive that all-important second purchase, and is just another way you can reward your loyal customers for coming back. Easier checkout shows you know them well, and you can make it easy for them to replenish past items, buy a new favorite, or buy a gift.
Amazon’s loss can now be your gain. Don’t wait to take advantage of the key piece of technology that helped Amazon become the behemoth of ecommerce it is today.