“The fact that we grew organically from 350 cities across the country to more than 750 towns and cities across metros, tier-II, and tier-III regions within a year speaks volumes about what made us the leader in the segment. Just like a cellphone in every hand is a reality today, we want a smartwatch on every wrist in the wake of the new normal.”– Fire-Boltt.
Fire-Boltt is on a mission to become the number one brand in the lifestyle fitness category. Let’s find out how Fire-Boltt started, how they became a home brand for smartwatches, headphones, and more, the challenges they encountered, and the impact Magic Checkout, Razorpay’s one-click checkout solution, had on Fire-Boltt.
Fire-Boltt is India’s number 1 smartwatch brand and the fourth-largest smartwatch brand globally. Started in 2015 by brother-sister duo Arnav Kishore & Aayushi Kishore, Fire-Boltt is a bootstrapped and homegrown brand. Headquartered in Noida, Fire-Boltt has carved a niche for itself in the country by developing strong in-house capabilities, innovative product offerings, technology superiority, and effective alliances.
The brand recently expanded its wings on international shores by entering parts of the UAE and South East Asian markets. Fire-Boltt is incubated and backed by Savex Technologies, India’s third-largest technology distributor. Savex is also the exclusive distributor for Fire-Boltt in the country.
Arnav Kishore, CEO & Founder of Fire-Boltt, has always been a sports enthusiast. Being an international lawn tennis player at a very young age, he has always had a passion for creating something futuristic and unique for sportsmen and fitness enthusiasts. Combining his passion for sports, technology, and entrepreneurship, he is now exploring the world of wearable technology and heading Fire-Boltt, an innovative wearable tech company with the ambition to transform health, fitness, and sports. Arnav Kishore was recently featured in the prestigious “Forbes 30 under 30 Asia” List under the Consumer Technology category.
High Cart Abandonment
Given most Indians were used to buying electronics on marketplaces such as Amazon and Flipkart and the shopping experience via a D2C website is not as seamless as on these marketplaces, Fire-Boltt was seeing high drop-offs on their D2C store, especially during the checkout process. Users had to go through a tedious & lengthy checkout process involving multiple form-fills, leading to a high cart abandonment rate. This was directly impacting their sales & revenue.
Higher RTO Rates & High COD Share
One of the main challenges that Fire-Boltt faced was poor address quality, leading to high RTOs. Their customers were entering either wrong or incorrect addresses. Addresses generally missed valid landmarks and sometimes lacked Pincodes. The brand was confident about their products, but increasing RTO rates became a concern for which they needed an immediate solution. Fire-Boltt’s RTO rate was as high as 60%.
Additionally, more than 50% of users used to place orders via COD instead of opting for a prepaid method. This meant more operational hassles, more logistical challenges, higher time for money settlement, and even more RTOs!
The Solution- Razorpay Magic Checkout, a One-Click Checkout Solution
5X Faster, One Click Checkout
With Magic Checkout, Fire-Boltt’s customers no longer had to worry about completing multiple steps or fill out long account creation forms to complete their purchase process.
- 5X Faster Checkout– Razorpay Magic Checkout made the checkout process 5x faster by pre-filling contact and shipping details for shoppers
- Superior Payment Experience– Magic Checkout suggested the most relevant method at the top for a particular user, allowing Fire-Boltt’s customers to select their preferred payment method, including COD, conveniently.
- Superior Design – Magic Checkout’s desktop & mobile-friendly interfaces and an appealing “Buy Now” button made online transactions even more seamless for Fire-Boltt.
COD Intelligence & Address Validation
Razorpay Magic Checkout offered COD intelligence to Fire-Boltt, which automatically disabled the COD (cash on delivery) payment method in real-time for high-risk users.
- Razorpay Magic Checkout ensured to look at 300+ unique parameters for Fire-Boltt to detect users’ propensity to RTO and identify if a user is genuine. Magic Checkout checked users who entered incomplete details like address and contact details to block them from placing COD orders. It also looked at user behavior during the checkout process. For example, time taken to enter details during checkout to identify users with dubious behavior.
- Magic Checkout filtered out bad actors who use multiple phone numbers, email ids to place dummy orders to block Fire-Boltt’s inventory.
- Magic Checkout went the extra mile and used personalized AI models for Fire-Boltt, which continuously improved as more and more delivery data were collected over time.
- Additionally, Magic Checkout’s COD intelligence analyzed each order of Fire-Boltt and red-flagged high-risk users with a high propensity to RTO based on their historic RTO patterns across hundreds of brands in the Magic Checkout network. All these initiatives significantly dropped their RTO rate share- from 60% to 40% in 3 months’ time!
Fire-Boltt on Razorpay Magic Checkout
“Razorpay Magic Checkout has a great team, and the integration process was truly effortless. Integration was done in just 5 mins. We aimed for a higher conversion rate and lower RTO rate, and Magic Checkout helped us achieve our goals in three months. Magic Checkout is a must-have for every eCommerce business.” Arnav Kishore, co-founder of Fire-Boltt.
If Razorpay Magic Checkout Has Worked for Fire-Boltt, it Will Work for You Too!
If Fire-Boltt’s challenges resonate with you, give Razorpay Magic Checkout, a one-click checkout solution, a try. We are here to help you with your business goals. Let’s bring down the RTO rate and boost the order conversion rate together.
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