Over 100 million shoppers are now making purchases from e-commerce brands on the network of GoKwik in 2023, the enabler has announced.
One in every three shoppers in India are shopping on GoKwik. This is 1.5 times the number of shoppers on the network in 2021.
The incremental shoppers have largely come from tiered cities with Tier 3 constituting 46% of it and 90% being Android users. The majority of these incremental shoppers come from addition of new merchants in beauty & personal care, fashion, electronics, and health & nutrition categories.
The rising merchant base of more than 150 brands only in these categories now benefit from Amazon, Flipkart like experience of getting pre-filled address checkout experience.
“This milestone achievement is a testament to our mission to democratise e-commerce businesses in India. It shows that we’re on the right track. Our solutions, loaded with a deep understanding of solving problems at source backed by technology, analytics and artificial intelligence, are helping e-commerce brands unlock their true growth potential. Our shopper network is the biggest factor in helping brands provide a superlative checkout experience where the time to place orders reduces drastically. Brands on our network have also been able to increase COD serviceability reaching customers in every nook and corner of the country,” said Chirag Taneja, Co-Founder and CEO, GoKwik.
While online shoppers continue to increase in India, COD remains a preferred mode of payment for them. For the financial year 2022-2023, 75% of the orders in GoKwik network were COD orders. Electronics, FMCG, fashion, health and wellness, beauty and jewellery were the biggest category contributors to COD orders in the network.
The network data also benefits the other problem faced by e-commerce merchants - RTO (return to origin) or failed deliveries, especially on cash-on-delivery (COD) purchases. However, GoKwik managed to contain RTO rates for the brands in its network even as COD orders continued to expand. For brands in fashion and health & wellness categories, the RTO rate was reduced by 30% and 38% respectively.
Moreover, having the safety net of RTO protection through GoKwik’s solutions, many brands were able to expand their COD serviceability across India. GoKwik added 7,600+ unique pin codes to its network, bringing the total number of serviceable pin codes to 31,600+.
Furthermore, overall, annual orders as seen on the network grew by 171% with an increase of 318% in repeat orders YoY. The ease of checkout experience speaks for itself with the repeat customer love that’s seen. The conversion rate also continued to increase across categories.
Beauty & personal, mobile accessories, beauty & cosmetics, and healthcare saw a conversion uplift of 2.93%, 10.81%, 2.74% and 5% respectively.
GoKwik is backed by Sequoia Capital, Matrix Partners India, RTP Global, Think Investments and other marquee investors and offers full-stack enablement solutions backed by technology and data science to help e-commerce brands increase revenue growth and reduce return-to-origin (RTO).
Taneja said that shoppers on the GoKwik network are expected to reach 350 million by 2025.
