In 2023, GoKwik has assisted eCommerce brands in saving INR 130 crore in RTO losses.
In 2023, direct-to-customer (D2C) brands on GoKwik's network saved a significant amount in return to origin (RTO) losses and prevented over 1.6 million orders from being returned, resulting in savings of over Rs 130 crore. These interventions also helped in reducing reverse logistics costs by Rs 24 crore.
Chirag Taneja, Co-Founder and CEO, GoKwik, highlighted its commitment to developing intelligent solutions that help brands serve cash-on-delivery buyers while efficiently reducing RTO losses.
RTOs, where undelivered orders are returned before delivery, can burden ecommerce brands with higher logistics costs, inventory issues, loss of conversions, and lower profitability. GoKwik's data-driven solutions, especially for cash-on-delivery (COD) orders, have played a vital role in curbing RTOs.
Through GoKwik's intervention, over 1.6 million products were available for shipment instead of being stuck in transit for extended periods, thus reducing inventory blockage and potential damage. Brands across categories including electronics, fashion, beauty and footwear benefited.
Among these categories, electronics saw the highest reduction in COD RTOs at 28%, followed by fashion at 11%, footwear at 16.6% and beauty and personal care at 10%. Many brands on the GoQuick network increased their COD share while reducing COD RTO rates, with some achieving a reduction of up to 18%.
Notable brands including boAt, Attitudist, Boult Audio, Fireboltt, Swiss Beauty, The Man Company, Neemans, Volmantra and Lenskart were able to expand COD services across India while efficiently managing RTO rates.
GoKwik's suite of solutions provides flexibility, allowing brands to launch COD, expand COD operations and reduce RTO incidents based on their specific needs. They employ risk-based interventions, such as order fulfillment enhancements, behavioral analytics, risk profiling, and pre-order measures like COD captcha, confirmation prompts, prepaid discounts, and more.
