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As the bolt network grows, retailers and consumers see tangible benefits – Headline 4 Ever

Online checkout experiences are frustrating, complicated and confusing. Shoppers are asked to fill in financial information from one place to another and from brand to brand. Therefore, industry analysts estimate that about 60 to 70 percent of consumers give up a purchase at checkout.

With Bolt, the payment platform has made the checkout process easier. Users download the app and fill in their financial information once. There are no passwords or logins to remember, and when consumers shop from brand to brand, purchases are made with a single click. What makes it work is that Bolt is a checkout platform and not a plug-in.

The platform also offers fraud protection and payment processing integration. And that with a single click connects users with a “unified cross-brand network” that is growing fast, the company said. It is this self-generating network that Bolt sees as a victory for both shoppers and consumers. In a research report published by Bolt, the company said “what benefits consumers is what pulls merchants together. We bring an Amazon-like network to all independent retailers, and Bolt decentralizes retail trade and switches e-commerce forever. ”

The authors of the report said that there are 7.1 million people in the network and 50 million customers through existing trade commitments and partnerships. The company said due to the growth of the platform, it expects one-third of all U.S. consumers will use Bolt by the end of 2022, “and by the end of 2024, it will grow to two-thirds. By 2025, Bolt is expected to interact with eight out of ten customers in the United States. ”

Bolt said its retailers “benefit both at the top of the funnel and at the bottom” and said their network retailers “see a 25 percent or more increase in store account creation, helping retailers sell, cross market and market directly to consumers beyond to own the relationship with their customers. ”

“At the bottom of the funnel, we also see faster conversion rates for checkout, which means Bolt is helping companies close sales more efficiently and effectively,” the company said in its report, adding that Bolt traders on average see a conversion of 75 percent interest rate increase and a 39 percent buyback rate as well as a 23 percent increase in average order volume.

Again, the key to these numbers and their growth is a unified network of merchants and consumers. “Every grocery store [in the network] benefits because every customer wants a logged-in return-shopping experience, and every new retailer we register is many thousands more people who want a friction-free experience with all our sales people, ”said Bolt. In the same way, every new Bolt dealer raises the value of the entire Bolt network. Every consumer on our network is able to shop more easily, not just on one site, but on all Bolt trading sites. ”

The company said its surveys showed that 5 percent of all transactions are “network-driven,” comparable to less than 1 percent in January 2020.

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