Backed By Data, Driven by AI: Manage Return To Origin With GoKwik
In the fast-growing world of Indian eCommerce market, managing return to origin (RTO) rates is crucial for maintaining business profitability and customer satisfaction. GoKwik’s data-driven approach built in its RTO Protection Suite revolutionises how online retails brands can tackle this challenge, especially in today’s time.
This blog dives deep into the nitty gritty of return to origin and how GoKwik’s solutions effectively solve this ever persisting problem.
Understanding Customer Behaviour
One of the critical strengths of GoKwik lies in its ability to comprehend customer behaviour patterns across various websites. The platform analyses vast amounts of data and gains many valuable insights, such as,
- Shopper preferences
- Pain points
- Purchase behaviours
This comprehensive understanding enables GoKwik to,
- Identify potential risks
- Intervene at critical points during user journey
- Effectively reduce the likelihood of return to the origins (RTOs)
Customised Payment-checkout Based On Risk Intelligence
GoKwik‘s data-driven approach equips eCommerce brands with valuable risk intelligence. By harnessing the power of artificial intelligence (AI), the platform identifies,
- Bad/wrong addresses
- Fake orders
- Customers with high intent on returning orders to the origin.
With this information, online brands can strategically tailor their checkout process. This may include, introducing friction points that deter potential returns, etc.
This customisation ensures the transaction aligns closely with the shopper’s intent, reducing return to origin chances and optimising their shopping experience.
The Power Of Data And Artificial Intelligence (AI)
GoKwik’s proprietary model is the backbone of its solution. It relies on vast amounts of data and AI algorithms to drive results. The model becomes increasingly accurate in identifying potential risks by constantly learning from new data inputs. This data-driven approach allows GoKwik to stay ahead of emerging trends and swiftly adapt to changing shopper behaviours.
As a result, eCommerce brands partnering with GoKwik benefit from a highly effective solution that evolves and improves over time.
GoKwik Vast Range Of Return To Origin-driven Products & Features
1. Disabling Cash on Delivery (COD) Option
The first feature GoKwik offers as a part of its RTO Protection Suite is the ability to disable COD as a payment method.
By eliminating this option, merchants can significantly reduce return to origin rates. COD orders often carry a higher risk of returns, as shoppers may change their minds or be unavailable during delivery.
By encouraging alternative payment methods, such as online transactions or prepaid options, merchants can enhance order fulfilment accuracy and minimise the chances of returns.
2. Pin Code-Based COD Disabling
GoKwik further customises payment methods by allowing merchants to disable COD for specific pin codes with high return to origin percentages.
By analysing historical data and identifying areas where return to origin rates are particularly high, GoKwik enables merchants to address potential risks associated with COD orders proactively.
This feature ensures that merchants can make informed decisions and optimise their operations for maximum efficiency and reduced returns.
3. COD Prompt for Medium-Risk Users
To prevent shoppers from inadvertently placing orders or making mistakes during the purchase process, GoKwik offers the COD Prompt feature.
This feature prompts risk users to confirm their intent to place an order, thereby reducing the chances of unintentional orders and subsequent returns.
By introducing an additional layer of verification, D2C brands can ensure that shoppers are committed to their purchase, minimising the likelihood of returns due to buyer’s remorse or accidental orders.
4. COD Captcha for Medium-Risk Users
To test the real intent of shoppers placing COD orders and prevent unintentional or fraudulent purchases, GoKwik introduces the COD Captcha feature.
This feature presents shoppers with a verification challenge before confirming their COD order, ensuring it is genuine and intentional.
By adding this extra step, merchants can identify and prevent potentially problematic orders, reducing return to origin rates and improving overall order deliverability percentage.
5. COD Fee Based On Risk Flags
Another effective feature offered by GoKwik in its RTO Protection Suite, is the ability to add a Risk Flag based COD Fee.
By analysing shopper data and order patterns, GoKwik assigns risk flags to individual orders. These indicate the likelihood of a return. For instance, a red risk flag represents a shopper with least buying intent. Similarly a green flag indicates a shopper with high buying intent.
Owing to such risk flagging, merchants can accordingly apply a COD fee. This can incentivise shoppers to opt for alternative payment methods or discourage casual or non-committal buyers.
This feature helps reduce return to origin rates and improves the probability of COD transactions by aligning product costs with business risks.
Improved Profitability and Customer Satisfaction
Lowering the return to origin percentage brings significant benefits to D2C brands.
- It positively impacts the bottom line by minimising returns, shipping, and restocking costs.
- It enhances customer satisfaction by reducing the inconvenience of returns and exchanges.
Using GoKwik’s RTO Protection Suite, eCommerce brands can create a seamless and frictionless user journey, optimise conversion funnel and foster long-term customer relationship and loyalty.
Conclusion
Amidst eCommerce brands, effectively managing return to origin is crucial to success. GoKwik’s data-backed, AI-driven RTO Protection Suite empowers eCommerce brands to reduce return percentages significantly.
By understanding shopper behaviour, providing risk intelligence, and customising the checkout process, GoKwik enables eCommerce brands to optimise operations, increase profitability, and enhance shopper satisfaction.
With GoKwik’s innovative approach, online retail brands can stay ahead of the competition in an ever-evolving e-commerce landscape and register high gross merchandise value.
