FanCode Reduces RTO% By 15.5% Using GoKwik In Just One Month

The GoKwik Solution

While finding a solution to its problems, FanCode was approached by GoKwik, a leading eCommerce enablement company. With its advanced AI-ML-backed RTO Protection Suit, GoKwik assured Fancode of bringing down its RTO% by a significant level.

Within a few weeks of interaction, GoKwik smoothly and swiftly completed the RTO model integration process.

Backed by data and built on GoKwik’s network intelligence, the RTO Protection Suite extended the following help. It enabled the digital sports destination to,

• Analyse the incoming website traffic and identify their buying intent based on
  • 200+ behavioural parameters
  • Gokwik’s data of 100 million+ unique online shoppers
• Filter the shoppers into three primary categories, namely, high-risk, medium-risk, and low-risk. Here, risk-users were those that showed high RTO intent
• Remove shoppers with repetitive RTOs from the shopping funnel
• Put necessary interventions in place across the three categories to,
  • Reduce the risk of frequent RTOs
  • Smoothen the shopping process
  • Increase the brand’s prepaid conversion rate
• Interventions included,
  • Applying product-level dynamic COD fee
  • Blocking COD as a payment option for high-risk shoppers
  • Embedding shipping fee on COD-based orders vs free shipping on prepaid orders
  • Using COD confirmation pop-ups to contain impulse buying
  • Offering prepaid payment-based coupons to first-time buyers
  • Restricting COD order placements to INR 1500/-

GoKwik’s advanced and highly intuitive analytics dashboard further allowed the brand to

• Deeply study business operations
• Derive quick actionable insights
• Implement/augment interventions to contain RTO levels

The Result

Within a month’s integration of the RTO Protection Suite and Gokwik’s consultative problem solving approach, FanCode witnessed quick impact and reduction in its RTO%.

It saw nearly a 15.5% decrease in COD-led RTO%. This, in turn,

• Improved the brand’s revenue
• Increase FanCode’s prepaid order conversion rate
• Decreased load on reverse logistics and resulting high operational cost
• Enabled FanCode to enjoy better flow of business capital

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“Our partnership with GoKwik has been beneficial. Their targeted
strategies, addressing specific shopper categories and conversion
phases, have helped in reducing our RTO (Return to Origin) percentage
by almost 15%.”

— Prasana Krishnan, Co-Founder & CSO, FanCodr

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Future Endeavours

As an eCommerce enablement company, GoKwik has made its mission to help e-retail brands solve their pressing business concerns and increase profitability. It’s constantly building new and improved solutions that allow eCommerce companies to increasingly focus on scaling operations rather than tackling backend issues.

With the same mission, GoKwik aims to help FanCode bring down its RTO% to as low as possible so that the digital sports hub can concentrate on offering the best services to its customers, elevate their shopping experience, and build brand loyalty beyond leaps and bounds.

Glossary

Return-to-origin (RTO) – It refers to a situation wherein shoppers place COD-led orders and cancel them at the time of delivery or while the order is in transit.