GoKwik, an e-commerce enabler for D2C brands, said more than 77% of the total orders placed on its network in the pre-festive sale period (July 2022- September 2022) came from tier 2 & 3 cities.
It said D2C brands on the network also posted a 29.4% growth in gross merchandise value (GMV) in this period compared with the previous quarter.
“Conversion rate for D2C brands on the GoKwik network was as high as 33% similar to previous quarters, despite 20% higher order volume in the pre-festive sale period,” the firm said in a statement.
“Cash on delivery (COD) remained the most preferred mode of payment with a 30% jump in GMV from COD orders in the pre-festive period compared to previous quarter. The share of COD orders to prepaid also remained as high as 75%,” it said.
“This indicates that “Bharat” still shops on COD when it comes to shopping online. Higher COD orders usually increases the chances to Return to Origin (RTO),” it said adding it could contain RTO rate at 25% despite 21% jump in COD orders.
“Containing the RTO rate was possible since our RTO suite could identify high risk transactions that increased by 5% in this sale period and take necessary interventions to stop these orders from resulting in returns,” said Chirag Taneja, co-founder and CEO, GoKwik.
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