Should I implement progressive profiling in checkout?

As a Shopify store owner in the fashion accessories space, I've been wrestling with a critical conversion optimization challenge. Our checkout process feels like a delicate dance – we want to collect essential customer information without creating friction that might drive potential buyers away. Right now, our standard checkout requires customers to input a substantial amount of information upfront, and I've noticed our abandonment rates are frustratingly high. We're losing customers who seem overwhelmed by the number of form fields or who get impatient during the purchase process. I've heard about progressive profiling as a potential solution, but I'm hesitant. Will it actually improve our conversion rates, or just add another layer of complexity? My team is divided – some argue we need comprehensive data collection, while others believe we should minimize every possible barrier to purchase. We're tracking our metrics closely, and the data suggests we're losing significant revenue due to checkout abandonment. I'm looking for a strategic approach that balances our need for customer insights with a smooth, frictionless purchasing experience. We can't afford to lose potential customers over a clunky checkout process, but we also can't fly blind without collecting meaningful customer data.