“Stylish, comfy, and affordable footwear, what else could customers ask for” is what the footwear brand thought of when it started. The brand had a common goal like many other eCommerce businesses- skyrocket its sales and be the best in the footwear domain.
But beyond sales, a footwear brand is involved in numerous processes, such as launching new footwear designs, ensuring their warehouse has enough stock, connecting with the logistics partner about order deliveries, managing payroll for the staff and above all, being sure that online shoppers have an exceptional online shopping experience!
I wanted to provide our customers with a fast, frictionless, and safe shopping experience. Razorpay Magic Checkout improved our checkout process and enhanced the online shopping experience.
The Initial Challenges
Major Problem of Drop-Offs
The brand invested heavily in marketing campaigns to drive traffic, hoping to increase sales. They noticed that shoppers were exploring their products and adding them to the carts, but when it came to completing their orders, unfortunately, customers were abandoning their carts.
The cart abandonment rate was close to 65%, hampering their revenue goals. The poor ROAS discouraged them from scaling their business further. And the consequence was high CAC (customer acquisition cost).
Brand Credibility Challenges
The footwear brand was continuously trying to build its online reputation. It wasn’t easy to compete with well-established brands. While trying to figure out on which step their customers drop off the most, they found that the drop-offs were happening primarily during the checkout page.
Even if they marketed their products and tried their best to create a positive brand image, online shoppers seemed to be finicky about trusting a new brand in the market, particularly with their payment details. And this continued for many years. The brand then started providing COD as a payment method to win customers’ trust. But that created a new challenge: a high return to origin rate.
Offering COD helped improve conversion rates and boost sales. But COD orders were repeatedly getting cancelled or declined.
Razorpay Magic Checkout’s Solutions
The footwear brand needed immediate solutions, and their search for the right solution made them reach out to Razorpay Magic Checkout.
Magic Checkout provides eCommerce shoppers with a one-click checkout experience. With Magic Checkout, customers never have to worry about a slow and lengthy checkout process. Not just this, any customer who shops via Magic Checkout network stores enjoys a 5X faster and a repeat-like shopping experience.
Enhance Brand Loyalty
17% of customers don’t trust online stores with their credit/debit card information. Razorpay is a trusted checkout partner and helps build a positive brand image so that customers can trust such companies better. Also, there is a Razorpay Trusted Business badge program that select brands can win based on prolonged trusted behaviour. This further helps in enhancing brand image, particularly if they are new.
Smart COD and RTO Protection
Magic Checkout provides eCommerce businesses with the provision to disable the COD (cash on delivery) payment option in real-time for high-risk orders. The RTO intelligence analyzes each order and red flags high-risk orders with a high propensity to RTO based on customers’ historic RTO patterns across hundreds of brands in the Magic Checkout network.
To further safeguard cash on delivery orders, Magic Checkout has something called RTO Protection. Under RTO Protection, if a Magic Checkout approved COD order gets returned-to-origin, Magic Checkout takes the responsibility and absorbs the RTO-related costs, specifically the shipping cost. eCommerce brands can opt for the RTO Protection scheme provided by Razorpay Magic Checkout and reduce their RTO related costs to an absolute ZERO.
Razorpay Magic Checkout Impact
A Faster Checkout Experience
As soon as the brand connected with Razorpay Magic Checkout, one-click checkout was enabled. The result? Customers could checkout 5x faster, leading to increased conversion rates and the footwear brand’s sales increased by 25%.
The customers who visited the store no longer had to fill in long account creation forms, which resulted in a faster online shopping experience.
Improved Brand Image
Razorpay is a trusted checkout partner for millions of businesses across India, and customers are familiar with the checkout interface Razorpay provides. Moreover, Razorpay fully complies with RBI and currently supports over 100 currencies.
Razorpay provides detailed verification and other RBI-mandated checks before allowing a brand to use Magic Checkout or any other Razorpay products. This, in turn, means enhanced trust by default for the footwear company and many others. Moreover, eCommerce stores can apply for the Razorpay Trusted Business badge program, which helps build trust and boosts checkout conversion rates.
Fewer to No High-Risk Orders
Since Magic Checkout offers eCommerce and D2C brands the provision to disable cash on delivery for high-risk orders, the brand saw a reduction in orders where the propensity to RTO rate was high.
Furthermore, RTO Protection by Razorpay gave the footwear brand much-needed peace of mind. The store opted for the RTO Protection scheme, which helped them bring their RTO-related costs to almost zero.
Customers now enjoy a faster shopping experience. I no longer worry about COD orders, and Razorpay Magic Checkout takes care of RTO-related costs.
Ready to Get Started with Razorpay Magic Checkout?
Join Razorpay Magic Checkout and overhaul the online shopping experience you have been providing so far! Razorpay Magic Checkout can help eCommerce stores overcome RTO losses, offer COD as a payment method confidently, supercharge the online shopping experience, and boost business growth.
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