E-commerce site GoKwik eyes digital brands
E-commerce site GoKwik, the leading e-commerce enabler startup in India, anticipates onboarding over 10,000 digital-first businesses and e-commerce participants on its platform by 2023, a significant increase from the company’s current membership of only about 500 brands.
The GoKwik site currently includes well-known companies like Limeroad, Mama Earth, Man Matters, Boat, The Man Company, Neemans, Lenskart, Shoppers Stop, and Hopscotch among many others. It also boasts a network of more than 80 million consumers.
The platform recently revealed that it had successfully handled over $1 billion in orders across its network and that the number of transactions had increased by 520 percent annually.
GoKwik plans to add over 10,000 brands to its network as part of its next growth phase in order to help small, medium, big, and enterprise-level brands and build a unified ecommerce ecosystem.
It is creating effective models specifically for small merchants. These concepts include adaptable WhatsApp commerce, trustworthy address verification systems, simple and intelligent dashboards that provide uber-level data, etc.
Additionally, it is strategically entering emerging product categories, market niches, and alliances.
E-commerce site GoKwik
E-commerce site GoKwik was established in 2020 by business veterans Chirag Taneja, Ankush Talwar, and Vivek Bajpai. The company offers solutions to issues that ecommerce brands encounter throughout the shopping process, such as improving customer experience, recovering from abandoned carts, raising conversion rates, boosting gross merchandise value (GMV), and decreasing the number of return to origin cases (RTO).
Brands have reduced RTO by 30% and increased conversion rates by over 35% thanks to GoKwik’s solutions. RTO, which occurs when a delivery of goods is unsuccessful, negatively affects a brand’s sales and profitability.
“The past two years have been incredible, and we couldn’t be more eager for the next stage of our journey. Given the current macroeconomic climate, we want to be even more dedicated to assisting merchants in realizing greater GMV as we expand, says Taneja, co-founder and CEO of E-commerce site GoKwik.
“We want to develop products for online retailers of all sizes and offer services that will help them expand at every stage of the sales process. We intend to keep developing technologies that completely address ecommerce problem statements, from the evolution of RTO protection models to WhatsApp commerce, personalised payments stacks, and conversion optimization tools, he says.