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Tag: Neemans

  • Shopping on credit almost doubles this Diwali for e-commerce consumers: GoKwik report

    Shopping on credit almost doubles this Diwali for e-commerce consumers: GoKwik report

    Gurugram – Credit has almost doubled this festive season largely led by credit cards and buy now, pay later (BNPL) options for D2C brands on GoKwik’s network.  The preference for credit surged from 3.49 per cent to 6.9 per cent this year thus indicating healthy economic performance and increased consumer sentiment.

    This Diwali sale period shoppers showcased a higher preference for prepaid payment modes with a 13 per cent surge in prepaid orders compared to last year. On the contrary, cash on delivery (COD) orders saw an 8% dip in the same period, reveals GoKwik, India’s leading eCommerce enabler that helps brands improve profits and efficiency by reducing COD orders.

    COD (Cash on Delivery) is a payment method where customers pay upon receiving their goods. This can build trust with buyers wary of online payments, especially in areas with fraud concerns. While COD enables businesses to access a wider customer base in tier two and tier three regions, it can also cause cash flow delays, higher return rates, and increased logistical costs, potentially impacting profitability. However, COD in India still continues to be dominant at 46 per cent followed by UPI at 44 per cent.

    “Affordability has always been a key driver for eCommerce growth in India, with shoppers opting for more flexible payment choices. We’ve been focused on building an ecosystem that supports this innate need among Indian shoppers. By offering multiple prepaid options on our checkout, we have not only provided more affordable payment choices to shoppers, but also provided greater control to merchants over their growth. Having a higher prepaid share of orders helps brands mitigate the impact of return to origin (RTO) and enables profitable growth for them. Our efforts in this direction have started to show the much needed shift in consumer preference,” said GoKwik co-founder & CEO Chirag Taneja.

    Categories such as footwear and fashion have seen the highest preference for credit-based prepaid payments while certain other categories like beauty and personal care continued to show high preference for COD.

    Another interesting trend during this festive period is the shift in consumer preference from COD to credit payment options such as credit cards and BNPL in tier three cities.

    Easebuzz MD & CEO Rohit Prasad added, “We are happy to support GoKwik during this festive sale period. With an exceptional 99.9 per cent uptime, Easebuzz platform empowered D2C brands manage millions of transactions without any downtimes, a crucial advantage during peak shopping periods. Our extensive payment acceptance methods, affordability suite with BNPL & EMI options, coupons and rewards during checkout helped these brands deliver a superior shopping experience for their customers.”

    While overall Average Order Value (AOV) rose by a nominal three per cent during this period, categories like fashion and jewellery saw particularly strong growth at 15 per cent and 13 per cent respectively. Categories with high AOV products like electronics saw a 36 per cent increase in credit card payments and a 27 per cent increase in BNPL, showing that shoppers prefer these payment methods for high-value purchases. GoKwik houses over 10000 brands in its network including Lenskart, Neemans, Man Matters, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space. The e-commerce enabler houses over 120 million shoppers in its network of D2C brands.

  • GoKwik saves eCommerce brands Rs 130 Cr in RTO losses for 2023

    GoKwik saves eCommerce brands Rs 130 Cr in RTO losses for 2023

    Mumbai: Brands on the network of eCommerce enabler GoKwik have saved up to Rs 130 Cr in losses from return to origin orders (RTO) in 2023 so far.

    According to data released by GoKwik, direct-to-customer (D2C) brands on its network benefited from its interventions to arrest RTO occurrences. Brands saved over 16 lac orders from being returned to origin. As a result, they also saved over Rs 24 Cr in reverse logistics costs owing to orders being returned while in transit.

    “We are constantly building deep-rooted intelligence & interventions that will help brands cater to the cash-on-delivery-loving shoppers while also mitigating RTO losses smartly. Our solutions are constantly committed to solving deep-rooted problems of the eCommerce industry at the source while also ensuring we contribute to becoming the eCommerce gateway of India. By seeing success stories of merchants, we are rest assured that we are heading in the right direction” said GoKwik co-founder and CEO Chirag Taneja.

    RTO or return to origin is when undelivered orders are returned before delivery causing a major setback to operations for e-commerce brands as they add to logistics costs, inventory blockage, loss of true conversions and leaking profitability.

    The chances of RTO are significantly higher in cash-on-delivery (COD) orders than in prepaid orders. GoKwik offers a range of solutions backed by data and analytics that can predict customer behaviour and help sellers prevent RTOs while ensuring expansive COD serviceability across regions.

    Through GoKwik-led interventions, brands also had over 16 lac products readily available to be shipped which would have otherwise been in transit for 20-30 days leading to inventory blockage and damage, data released by GoKwik shows.

    Fashion brands saved around Rs 15 Cr, electronics brands around Rs 61.7 Cr, beauty brands around Rs 2.75Cr, and footwear brands around Rs 5.5Cr in inventory blockage owing to GoKwik interventions. Moreover, among these categories, electronics saw the highest reduction in COD RTOs with 28 per cent. Fashion brands recorded an 11 per cent drop in COD RTOs, footwear recorded a 16.6 per cent drop, and beauty and personal care saw 10 per cent.

    Around 40 per cent of the brands in the GoKwik network continued to increase their COD share by 16 per cent and reduced COD RTO by up to 18 per cent.

    Homegrown consumer electronics brand boAt saw up to a 32 per cent drop in RTO rate and a four times increase in COD gross merchandise value with the help of GoKwik’s interventions. Footwear brand Attitudist also recorded a 15 per cent reduction in RTOs with these interventions. Boult Audio further brought down RTOs by 40 per cent and Fireboltt by 30 per cent respectively.

    Many other brands including Swiss Beauty, The Man Company, Neeman’s, Wallmantra, and Lenskart were able to expand their COD serviceability pan India while containing RTO rate.

    GoKwik’s smart suite of solutions helps brands start COD, expand COD, reduce return to origin and contain return to origin depending on the stage of COD serviceability their brand is in. GoKwik is committed to solving these problems at the source by risk-based interventions such as adding extra layers to order completion to avoid RTO, behavioural analysis of the shoppers, risk profiling and placing pre-order interventions such as COD captcha, COD confirmation prompts, prepaid discounts and more.

  • Neeman’s ropes in Jasprit Bumrah for its latest campaign

    Neeman’s ropes in Jasprit Bumrah for its latest campaign

    Mumbai: Neeman’s, a homegrown footwear brand known for its sustainable and innovative products, has launched a digital campaign #ChangeTheNorm in association with Indian cricketer Jasprit Bumrah.

    The campaign conceptualised by the in-house team, narrates the story of the ace bowler of the Indian cricket team, tracing his career trajectory through its ups and downs.

    By partnering with Bumrah, Neeman’s aligns its ethos of stepping out of the ordinary, doing things differently, and achieving extraordinary results in the process, said the footwear brand. The ReLive Knit sneakers, a sustainable shoe made out of recycled PET bottles, is one such example as it aims to redefine comfort for both the consumers and the planet, said the brand in a statement.

    “We are stoked to have partnered with Jasprit Bumrah, a gifted fast-bowler from the Indian Cricketing world for our marquee campaign, #ChangeTheNorm. His personality truly represents everything we stand for,” said Neeman’s co-founder Amar Preet Singh. “At Neeman’s, we have always strived to think outside the box, go beyond our limits and be greater with every collection. Jasprit’s career trajectory and unique personality are an inspiration for one and all. This is in line with how our ReLive Knit sneakers challenge the status quo and set a new standard for footwear.”

    The unisex collection of Neeman’s is available on the company’s official website as well as leading e-commerce platforms in the country, said the brand.

  • Neeman’s unveils ReLive Knits campaign with a call for sustainability

    Neeman’s unveils ReLive Knits campaign with a call for sustainability

    Mumbai: Neeman’s, an innovative footwear brand that uses natural, renewable and biodegradable fibre has roped in Bhumi Pednekar, Mandira Bedi, and Samantha Prabhu for its latest campaign.

    The campaign announces the launch of its ReLive Knits, a shoe made with 100 per cent recycled PET Bottles. The digital film featuring the three actresses highlights the brand’s ethos and its latest collection that boasts comfort, sustainability, technological innovation, and superior design.

    According to the company, Pednekar was an ideal fit for the campaign as she is a renowned climate warrior and an advocate of sustainable living. “She exemplifies breaking of boundaries, and Neeman’s, with the newest collection of sneakers and slip-on made with 100 per cent recycled PET Bottles has done the same,” it said.

    “The truly spirited actress, anchor, designer, and fitness enthusiast Mandira Bedi on the other hand was a suitable pick for ReLive Kits as she is a true embodiment of donning many hats and, thus, perfectly channels Neeman’s vision of crafting versatile footgear for anytime wear. Actress Samantha Prabhu too perfectly reflects Neeman’s values of shattering stereotypes and challenging the status quo, with one-of-a-kind choices that make her stand apart,” said the company.

    According to Neeman’s, the new line of shoes actively reduce carbon footprints and build towards a better tomorrow. In ReLive Knits, the other materials used include bamboo insoles, castor bean oil, natural and recycled rubber.

    “With this planet-friendly collection, we have taken another significant step towards creating footwear that cares for the environment without compromising comfort and style,” said Neeman’s founder Taran Chhabra. “As per the research by Quantis, a sustainability consulting group, sneaker production accounts for 1.4 per cent of the global greenhouse gas emissions. In stark contrast, each pair of the ReLive Knits is made with eight PET bottles, and so far, we have recycled more than one million plastic bottles for this new sustainable collection. We are determined to change how Indians wear shoes, one step at a time.”