GoKwik Helps Iconic Streamline Its Checkout Process

Solution: The Solution

GoKwik is a one-stop growth accelerator for eCommerce brands. It aims to device solutions that effectively and efficiently tackle some of the most critical challenges being faced by eCommerce companies today including leakages in the conversion funnel, return to origins, low conversion rates, and more.

After thoroughly analysing Iconic’s problems, GoKwik suggested implementing some of its flagship solutions such as KwikCheckout and Smart COD suite to streamline the checkout process and reduce COD-led delivery cancellations.

Enhanced Order Placement Via KwikCheckout

GoKwik implemented an intuitive and user-friendly checkout interface that simplified the order placement process on Iconic’s website. Backed by advanced algorithms and user behaviour analysis, the new system minimised friction and guided customers smoothly through the one-click checkout journey.

Some prominent features ensuring such smoothness include,

• Quick login via mobile/WhatsApp OTP on web desktop, Truecaller authentication on mobile site, and SSO login enabling automatically logging in existing merchants owning to GoKwik’s Network Effect)
• Auto-filling shopper addresses via its data of 100 million plus shoppers, and validating shipping details in real-time
• Offering discounts on the checkout pop-up and at the payment stage to incentivise shoppers and reduce drop-offs
• Providing an expansive range of payment options such as UPI, cards, wallets, net banking, and other popular modes to increase conversions and reduce last-minute cart abandonments.

Reducing RTO For COD Orders Using Smart COD Suite

To address the increasing return-to-origins (RTOs) associated with COD orders, GoKwik embedded its Smart COD Suite on Iconic’s backend panel. Backed by artificial intelligence and machine learning, the solution identifies the buying intent of shoppers, buckets them as high-, medium- or low-risk buyers, and implants strategic interventions to increase good conversions.

Some of these interventions are as follows.

• Pre-delivery confirmations such as showing order confirmation messages or putting Captcha/ReCaptcha to make shoppers think twice before placing COD orders.
• Blocking COD as a payment option for shoppers who’ve done too many COD order cancellations or delivery rejections in the past.
• Incentivising shoppers with additional discounts or loyalty points for choosing prepaid payment methods over COD to promote higher prepaid conversions.
• Employing AI-powered fraud detection techniques at various levels to analyse customer behaviour and transaction patterns to identify potential fraud or high-risk orders.

This proactive approach helped Iconic prevent fraudulent COD and RTO orders and mitigate associated losses.

The Results

By implementing GoKwik’s solutions, Iconic saw a transformative impact on its website and business operations. These include,

• A whopping 77.14% reduction in RTO rate, from 35% to 8%,
• A 12.5% increment in prepaid conversions, and
• A 67.86% uplift in checkout conversion rate.