New Delhi, 22nd March, 2022
boAt (Parent Company- Imagine Marketing Ltd.), India’s #1 ranking among the wireless hearables brands (in terms of volume over multiple quarters from 2019 to the second quarter of the financial year 2022) has opened cash on delivery option for its customers for the first time on its D2C e-commerce site. This was executed after boAt onboarded eCommerce enabler GoKwik with an aim to boost conversions, reduce RTO and increase overall GMV realisation.
With this association, GoKwik is helping boAt widen its customer base. The fundamental idea here is to enable best in class conversion rates to go hand in hand with a definite assurance that boAt can open up CoD in a risk-free manner. This partnership is expected to help boAt upscale further.
Enabling CoD on orders assists in increasing overall conversion rates. However, with CoD orders, an added risk of Return to Origin may become imminent as well. boAt, with an intent to increase conversion rate by enabling cash on delivery while also keeping return to origin rates minimal, has entered into their partnership with GoKwik.
boAt is India’s number 1 wireless hearables brand in terms of volume over multiple quarters from 2019 to the second quarter of the financial year 2022 and an amalgamation of music, fashion, and action sports which was launched in 2014 to offer a dynamic product portfolio ranging from audio (such as wired headphones and earphones, wireless headphones and earphones (neckbands), true wireless stereo), wearable (smartwatches), personal care appliances (trimmers and grooming kits), mobile accessories and much more. We believe our success in expanding our presence from the audio category to wearables in a relatively short period reflects the strengths of our brand, our ability to gauge the pulse of the consumer devices market and successful execution of our vision to disrupt the incumbent landscape in attractive consumer categories
GoKwik is an e-commerce enablement company, on a mission to democratize the shopping experience and increase GMV realization for e-commerce businesses. It trusts in a ‘Merchant-First’ philosophy and uses AI/ML technologies to solve hard-hitting problems like Return to Origin (RTO) to solve & better Cash on Delivery (CoD) conversion rates for e-commerce players including D2C brands. GoKwik’s checkout and UPI solutions help improve checkout conversion rates ensuring higher GMV realization, increased profitability, reduced Customer Acquisition Cost (CAC), and increased delivery rates.
Delighted about the partnership, Saurabh Bhandari, Head of D2C, boAt, said, “We are excited and extremely happy to partner with GoKwik which is committed to providing its brands with the access to capabilities that can supercharge their omnichannel journey. GoKwik’s approach focused on solving RTO, a key problem in online commerce makes it a unique and imperative entity for any business. Adding GoKwik as an offering on our platform for our boAtheads will help our online operations”.
Speaking on the partnership, Chirag Taneja, Founder & CEO, GoKwik said “boAt is India’s no1 wireless hearables brand in terms of volume over multiple quarters from 2019 to the second quarter of the financial year 2022 and we wanted them to be number one online as well. We always aim to play that supporting character, who helps the main character shine in their full glory. That’s what we wanted to be for BoAt as well. We wanted them to openly enable cash on delivery without having to worry about a return to origin. We are extremely delighted to support boAt with our partnership. Many D2C merchants are sceptical about CoD orders owing to the high RTO associated with them. However, we are aiming to constantly upgrade our AI/ML-enabled algorithms to support brands in easily enabling CoD and keeping RTO at bay. We hope this partnership with boAt will keep thriving and change the face of Cash on Delivery in the D2C space.
