Sustainability resonates in the hearts of many, but few go far to make changes to champion the cause. With a commitment to reducing e-waste and providing affordable access to high-quality devices, Ovantica emerges as a beacon to a more sustainable future. Ovantica’s mission is to refurbish phones and breathe new life into devices that would otherwise be discarded. This process not only reduces the amount of e-waste that ends up in landfills, but it also makes it possible for consumers to access high-quality phones at a lower price.
Ovantica’s commitment to affordability creates a bridge between conscientious consumption and accessible choices. With each refurbished phone, Ovantica not only provides an economical option for consumers but also contributes significantly to the grand tapestry of a more sustainable world.
Ovantica is an online marketplace for high-end electronics where you can explore a wide range of products across categories. They specialize in the sale of refurbished smartphones at prices that are significantly lower than those of new phones. Each device undergoes a rigorous refurbishment process, ensuring that it meets stringent quality and performance standards. With a commitment to quality and customer satisfaction, Ovantica India redefines the smartphone experience, catering to the needs of tech-savvy individuals seeking value and sustainability.
The Challenge: Making big-ticket products affordable
While Ovantica offers a wide range of electronics at prices more wallet-friendly than buying brand-new gadgets, they faced the challenge of attracting and converting potential customers due to a lack of awareness and understanding of their affordable payment options and EMI plans. Without the visibility of affordable payment options, customers are more likely to abandon their purchases due to the high upfront costs.
To address customer unawareness of EMI options, it is essential to prominently display this information on product pages. Customers may remain uninformed about EMI options, even if they are available, unless these options are presented upfront during product browsing. Additionally, the complexities of monthly EMI amounts, the nuances of no-cost/low-cost EMIs, and interest details can be confusing for shoppers.
The Solution: Unveiling the power of the Affordability Widget
To reduce customer confusion about EMI eligibility and boost sales, Ovantica integrated Razorpay’s Affordability Widget, an end-to-end customer conversion stack that empowers customers with the convenience of EMIs, paylater, offers & more. The Affordability Widget provides shoppers clear credit accessibility and visibility upfront, guaranteeing a seamless and transparent experience for customers during the purchase journey. With a pre-eligibility check that helps customers identify their eligible payment options in real time, the Affordability Widget eliminates last-minute drop-offs and can boost success rates by 15%. Moreover, the Discount Whisperer feature – a real-time shopping genie, guides shoppers to unlock the best offers by elevating their cart value, which can result in a 30% boost in Average Order Value (AOV). Razorpay’s Affordability Widget helps improve customer conversions and retention by bridging the gap between purchase intention and the buying journey.
Unlocking impactful results
Ovantica recorded an up to 48% increase in Affordability GMV, indicating that customers are more inclined to purchase higher-priced items due to the availability of flexible payment plans. Additionally, offers GMV surged by an impressive 119%, and AOV (Average Order Value) saw an uptick of 11%. Furthermore, conversion rates witnessed an 18% spike, emphasizing the positive impact of EMI plans on customer purchasing decisions.
Razorpay’s Affordability Widget is a powerful tool that can help businesses increase sales and improve customer satisfaction. By displaying affordable payment options and offers early on in the purchasing process, the widget helps to reduce customer confusion and drop-offs. Additionally, the widget can help boost your customer’s spending power and improve the AOV. Razorpay’s Affordability Widget is a valuable tool for businesses that want to make their products and services more accessible to customers.
If you’re looking to leverage the Affordability Widget for your business, please reach out and we’d be happy to help!