Udaipur-based Fashion Brand Beyoung Partners with GoKwik to Strength Nationwide COD Reach & Mitigate Return Losses
Beyoung, a leading fashion brand known for its trendy and affordable apparel line, has entered into a strategic partnership with GoKwik, India’s leading eCommerce enabler, to strengthen its online presence in India by expanding Cash on Delivery (COD) serviceability while addressing the challenge of high Return to Origin (RTO) rates.
Committed to capturing the essence of Real Bharat, Beyoung combines trendy design with affordability without compromising quality and comfort. Since its inception, Beyoung has clocked a revenue of over INR 250Cr in the short span of its D2C journey. To further strengthen its digital footprint PAN India, Beyoung will leverage GoKwik’s expensive intelligence-driven network to deepen its COD reach and minimise RTO losses (the phenomenon when COD orders are returned to the warehouse before delivery).
“At our core, we are a real Bharat brand that wants to ensure fashion is affordable and accessible to tier 2,3 & 4 cities of India. Cash on delivery remains a preferred choice for many across India, and with GoKwik’s expertise, we aim to deepen our COD footprints, without worrying about the RTO losses. By utilising their advanced risk intelligence-based solutions, we hope to reach diverse consumer segments, further enhance our Gross Merchandise Value (GMV), and effectively manage challenges related to COD orders,” said Shivam Soni, Founder, Beyoung.
Return to origin happens when a COD order is cancelled while in transit and returns to the warehouse before delivery. It brings an added cost in terms of reverse logistics, packaging wastage, and product damage, thereby impacting a brand’s bottom line. While more than 60% of the orders in India are done through COD, upto 40% of these orders are returned to origin. This number can be higher in the fashion category, which is the most prone to RTO losses.
GoKwik, renowned for its data and tech-backed intelligence solutions analyses shopper behaviour across 200+ parameters, and ensures brands increase their COD GMV while reducing RTO significantly. Through its solutions, GoKwik has helped several D2C brands save INR 130 Cr RTO losses last year.
“Beyoung is one of the brands that has showcased the true spirit of vision coupled with execution. In a short time, they have grown to become one of the most preferred brands amongst younger generations of our country. We are all geared up to ensure we support them in the next phase of their accelerated growth journey,” said Chirag Taneja, Co-Founder and CEO, GoKwik
GoKwik houses brands like Lenskart, Neemans, Man Matters, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space. Beyoung has gained over 1.5 Mn customers in the last few years and has delivered over 20L orders successfully.
About GoKwik
Founded in 2020, GoKwik is an eCommerce enablement company focusing predominantly on unlocking growth for eCommerce brands by solving crucial challenges across the eCommerce funnel, helping eCommerce brands provide a seamless shopping experience to their customers, expanding COD penetration across cities and towns, reducing return to origin (RTO) for their partners, and ensuring overall growth through conversational commerce across the funnel using WhatsApp. GoKwik has the deepest network data of 100 Million shoppers through which it has helped 1200+ brands increase conversions, reduce RTO, boost GMV and prepaid success rate, thereby increasing overall growth potential for these brands.
It is helmed by Chirag Taneja (Co-Founder and Chief Executive Officer), Vivek Bajpai (Co-Founder and Chief Technology Officer), and Ankush Talwar (Co-Founder and Chief Data Scientist). GoKwik’s team has deep knowledge in the space of eCommerce with people having previous experience in Flipkart, Razorpay, Swiggy, Myntra, Nykaa, and more. Link – https://www.gokwik.co/
About Beyoung
Amidst the global shift to digital mediums during the COVID-19 pandemic, four fashion enthusiasts united with a vision to redefine fashion for Millennial and Genz’s. Recognizing a void in the market and for bridging the gap, particularly among the youth in tier 2, 3 & 4 cities, where access to trendy clothing was limited due to prohibitive costs prevalent in metro cities, the fab-four came together to birth Beyoung – now a leading force in the fashion landscape.
Beyoung was conceived with an ambition– to revolutionise the fashion industry by offering aspirational, convenient, and affordable styles without compromising the quality for the real Bharat.
What started as a venture by just four individuals has blossomed into a team of over 200+, spreading joy with 30 lakh+ satisfied customers across the nation. Beyoung, a homegrown fashion brand, not only delivers fashion but also invites the Indian youth to explore the Real Bharat with the latest trends. Evolving into a people-centric brand, Beyoung offers products tailored to the dynamic tastes for all.
