Q&A: Rania Lamprou, Co-founder & CEO, Simpler
Simpler are on a mission to simplify how people shop online and, at the same time, increase conversion rates for merchants.
Tell us about your background:
My background is in finance and adtech, and I’ve always had a passion for startups. I love the fast-paced environment and the challenges that come with building something from scratch. Over the years, I have gained extensive experience in the startup world, focusing on leading sales and product efforts for various startups.
After completing my Master’s degree, I knew that I wanted to pursue entrepreneurship. I realised that the best way to prepare myself for this journey was to work with early-stage startups and gain a diverse set of skills that founders need at the outset. This decision allowed me to develop a unique T-shaped skill set that spans various domains and has proven valuable in my own ventures.
Tell us about Simpler
At Simpler, we are building the world’s simplest checkout. We are on a mission to simplify how people shop online and, at the same time, increase conversion rates for merchants. Simpler offers a one click checkout experience, which allows shoppers to complete their purchase using their preferred payment and shipping option with just one click – without the need to fill out lengthy forms, create a new account or remember yet another username and password. Additionally, Simpler’s checkout also serves as the perfect solution for Omnichannel Commerce. It unifies the buying experience on different channels, making it easy for customers to buy with ease on any channel they want in their Omnichannel buying journey.
So our product is the perfect checkout solution for both the online and offline world. Shoppers can checkout in one click either in the traditional way, inside an e-commerce website, or in a “remote” manner, simply by clicking on an ad, email, chat, newsletter etc or scanning a QR code in the physical world that lets you directly purchase a product, without having to actually be on the merchant’s e-commerce store. This is what we call “Checkout from anywhere”, which decouples the checkout process from the online stores for the first time, making everything shoppable within seconds
What’s wrong with the existing checkout that retailers use, and how does Simpler make it better?
When it comes to online shopping, the traditional checkout process can often be a frustrating experience for both customers and merchants. The standard checkout journey can involve lengthy and complex forms, account creation, limited payment options, slow loading times, and security concerns. This can result in customers abandoning their shopping carts and seeking out alternative retailers. As a result, annually, over £18 billion is lost in abandoned carts in the UK.
That’s where Simpler comes in. Simpler works alongside existing checkout systems to eliminate friction and create a smoother checkout experience for customers, ultimately increasing conversions for merchants. Here’s how it works:
- For first-time shoppers:
When a shopper is ready to checkout, they can click on the Simpler checkout button directly from the product page, mini cart, shopping cart page, or checkout page. This will take them to a lean form that only requires the necessary fields, saving time and hassle.
Once the shopper fills out their information and clicks “pay,” the order is complete, and their details are saved for future purchases>
They are now registered in the Simpler network, which allows them to make one-click purchases at any merchant website within the Simpler network in the future.
- For returning shoppers:
By clicking on the Simpler checkout button, their saved information is automatically pre-filled, and they can complete their purchase with just one click, making the entire process quick and seamless.
How does Simpler checkout benefit retailers?
Merchants can greatly benefit from using Simpler checkout, as it offers a seamless and fast customer experience that can lead to higher conversion rates, reduced cart abandonment, and happier customers. By utilising Simpler’s one click checkout option, retailers can provide their shoppers with a quick and hassle-free experience, leading to increased customer loyalty and satisfaction.
Simpler has been proven to boost conversions by up to 70%, which can be a significant boost to a retailer’s bottom line. Furthermore, the implementation of Simpler checkout has resulted in shoppers checking out earlier in the buying funnel, with 75% of them opting to make their purchase directly from the product page, mini cart, or shopping cart page rather than proceeding all the way to the checkout page, which often leads to frustration due to the added friction. Simpler’s post-checkout surveys have also received high ratings, with an average score of 4.86 out of 5, demonstrating a high level of satisfaction among shoppers.
Beyond these benefits, Simpler provides merchants with real-time analytics and insights into their customers’ purchasing behaviour, payment preferences, purchase history, and revenue, among other key metrics. This data can help retailers optimise their conversion rate optimisation (CRO) strategies and make informed decisions to improve their overall business performance.
How is it different from other payment solutions out there?
Simpler offers a unique and refreshing approach to the checkout process. Our product is designed to simplify the entire buying experience, not just the payment aspect. Unlike other solutions that focus solely on payment, Simpler provides a holistic checkout solution that streamlines the entire process from start to finish.
With Simpler, shoppers can complete everything from filling out a lean form to selecting shipping options and making payments, all in one convenient window. This means that the checkout process is up to 50% faster than traditional checkouts. For returning shoppers, the checkout process is even quicker, taking only 6 seconds on average to complete.
Our checkout solution also comes pre-built with the latest payment options, including popular digital wallets like Apple Pay and Google Pay, as well as buy now, pay later (BNPL) solutions such as Klarna. This ensures that shoppers have access to a fast, convenient, and secure buying experience that meets their evolving needs.
What does the product implementation actually look like?
Simpler’s product implementation is designed to be extremely user-friendly and simple. Our product installation is code-free, meaning merchants can get a frictionless checkout experience on their website within minutes of installation. Simpler is compatible with all major e-commerce platforms, including WooCommerce, Magento, PrestaShop, OpenCart, and Custom platforms. Additionally, our low transaction fees enable merchants to save on every transaction with a pay-as-you-go pricing model. Payment processing is also included, making Simpler a comprehensive solution for merchants looking to streamline their checkout process and save money.
What challenges/opportunities do you think retailers have in the UK in 2023?
The UK economy is experiencing significant disruption due to geopolitical challenges, inflation, and the cost-of-living crisis – which has a direct impact on consumers’ spending power. Retailers and brands are heavily reliant on consumers, and every conversion is crucial in this economy.
Despite the challenges, the UK retail industry has several opportunities in 2023 – such as investing in the right solutions for their business and providing exceptional customer experiences while adapting to changes in consumer behaviour.
Gen Z and Millennials prioritise convenience and simplicity, making it crucial to offer a smooth and hassle-free user experience that drives sales and growth. This includes providing a seamless experience across all channels and devices so that customers can shop on one platform and continue on another without repeating the process. Retailers that can deliver a consistent customer experience across all touch-points can stand out from the competition and benefit from greater customer loyalty, higher revenue, and an advantage in the UK retail market.
What is on the horizon for you as a company?
At Simpler, we are excited about the future of online shopping and our role in transforming the industry. Our innovative approach to simplifying the online buying experience has been driven by close collaboration with our initial UK merchant partners. We have identified the major pain points that often lead to cart abandonment, and our solution is a comprehensive buying experience that streamlines the entire process.
As we expand our reach beyond the UK, we are committed to partnering with merchants in the rest of Europe to bring our seamless checkout experience to customers everywhere. Our ultimate goal is to revolutionise the way people shop, making it effortless and enjoyable, whether online or offline. With this mission in mind, we are excited about the future and look forward to the many opportunities that lie ahead.
To find out how Simpler can help your retail operation, click here.
