Startup News Magazine

GoKwik expects to onboard 10k digital first brands and e-commerce players in 2023

New Delhi: GoKwik, India’s largest e-commerce enabler solving complex problems in this space, says that it expects to onboard over 10,000 digital first brands and e-commerce players on its platform in 2023 on the back of several innovative solutions implemented by the company. At present, GoKwik helps over 500 brands to attain 10x growth through its innovative solutions.

GoKwik, a company founded in 2020 by industry veterans Chirag Taneja, Ankush Talwar and Vivek Bajpai, is committed to solving problems that e-commerce brands face throughout the shopping funnel, including enhancing customer experience, abandoned cart recovery, increasing conversions, boosting GMV and reducing return to origin (RTO). Their solutions extend to the pre, during and post purchase journey of the shoppers.

With its robust solutions backed by deep tech and data science models, the startup has so far helped brands reduce RTO by 30% and improve conversion rates by over 35%. RTO happens due to a failed delivery of goods and directly impacts the revenues and profits of a brand. They have also successfully been able to introduce many new and innovative industry-first features which are helping e-commerce brands further increase their profitability while keeping losses at a minimal level. For example, introducing industry’s first RTO enabled payments page, split payments on COD to reduce RTO rate, intent based discounting to enhance prepaid conversions, etc.

GoKwik, which counts well known brands such as Limeroad, Mama Earth, Man Matters, Boat,  The Man Company, Neemans, Lenskart, Shoppers Stop, Hopscotch amongst several others, and has over 80 million shoppers in its network. They recently also announced that they have successfully been able to process over $1Bn worth of orders in its network, and have seen a 520% increase in number of transaction YoY.

As the next leg of growth, GoKwik is now aiming to bring over 10000 brands under its network with a vision to create a unified ecommerce ecosystem by supporting small, medium, large and enterprise level brands. GoKwik is specially building efficient models to cater to small merchants. This includes customisable whatsapp commerce, robust address verification systems, easy and insightful dashboard offering uber level analytics, etc. They are also strategically venturing into newer product categories, business segments and partnerships.

Talking about its plans to onboard 10k brands. Chirag Taneja, Co-Founder and CEO of GoKwik said, “ The last two years have been amazing, and we are even more excited for the next leg of our journey. As we grow further, we want to be even more committed to helping merchants realize more GMV, especially in the current macro-economic environment. We want to create products for ecommerce businesses of all sizes and provide solutions across the shopping funnel which can further their growth. From whatsapp commerce, personalized payments stack, conversion optimization solutions to evolved RTO protection models, we want to continue building products that solve ecommerce problem statements end to end. We are excited to take this new, high speed growth highway with them all.”

Talking about their association with GoKwik, Siddharth Dungarwal, Founder and CEO, Snitch said “GoKwik has always shown immense promise and vigour to solve the hard-hitting problems many D2C brands like ours are facing. We have been associated with them for a long time now and have seen their growth up and close. Not only this, we have seen how their solutions add value to our business. We are excited to be a part of their journey forward from here.”