Indians are massive on money on supply (COD). A 2024 survey report by Indian Institute of Administration, ‘Digital Retail Channels and Shoppers: the Indian Perspective’, revealed that almost 65% of shoppers used the COD choice to make funds of their most up-to-date on-line transactions. The appearance of small to medium (SMB) companies, Direct to Shopper (D2C) enterprise fashions and the burgeoning ‘vocal for native manufacturers’ motion have ensured that money stays king. It stays such a vital issue that ecommerce firms have needed to tweak their enterprise fashions to convey COD on board as a fee technique.
When Shopify introduced the deprecation of its Superior Money on Supply (A-COD) app on August 31, 2024, it left retailers and on-line retailers scrambling for alternate options. Fortunately, the ecommerce platform has spotlighted an thrilling different to resolve COD woes: the premium Kwik COD app by GoKwik.
The one Shopify really helpful different to the A-COD app, Kwik COD will assist over 50,000 e-commerce retailers achieve management over their COD orders, via very important interventions comparable to blocking or hiding COD, verifying buyer intent, customising COD on the premise of transport and fee strategies and far more. This complete array of options is designed to assist manufacturers reduce via the COD chaos, and makes Kwik COD an ideal answer for early-stage e-commerce manufacturers following the deprecation of the A-COD app.
Threat or reward?
For companies, COD can characterize each threat and reward. The danger for a lot of ecommerce firms revolves round order loss and RTOs, further prices for a number of deliveries (in case a buyer isn’t accessible for pickup), and money administration points. Nevertheless, money on supply additionally provides new companies vital benefits.
For retailers, COD can considerably scale back fee timelines. It performs a necessary position in relation to impulse buys. Prospects can discover a wider vary of choices with COD as they don’t have to pay on the time of inserting the order.
This feature additionally permits companies to faucet right into a market of shoppers who could not have bank cards or are reluctant to share delicate data like credit score or banking particulars. Lastly, for small or new companies, the money on supply possibility is a crucial device of belief. Prospects not sure of the product high quality discover COD a secure alternative. It may facilitate excessive conversion charges and assist manufacturers construct a wider buyer base.
Making COD seamless for sellers
The Kwik COD app straight addresses buyer and enterprise wants, making certain that companies can handle their COD orders successfully and effectively. It deftly minimises the dangers, making COD an important device for on-line sellers.
Threat: COD will increase the chance of cancellations.
Retailers typically anticipate the chance of products being refused on supply. Nevertheless, with the Kwik COD app, companies can disable COD for high-risk consumers primarily based on 10+ parameters. The app additionally affords specialised options that considerably reduce down the chance of refusal. Companies can use the app to customize COD availability for a choose vary of merchandise, decide areas with a excessive price of RTO orders, excluding them from COD orders, and tailor COD availability primarily based on their chosen transport technique.
Threat: Prospects could place orders with no distinct intent to buy, growing the possibilities of cancellations.
Intent is the underlying cause behind a buyer’s actions when buying or interacting with a model. Whereas it might appear daunting and laborious to foretell, the Kwik COD app affords essential interventions to assist filter out non-serious patrons. Customers will obtain a One Time Password (OTP) from the app to verify their shopping for intent. Moreover, the app’s COD Captcha (Fully Automated Public Turing take a look at to inform Computer systems and People Aside) characteristic provides an extra layer of safety, to bar bots and fraudsters from inserting cash-led orders. A nominal price is imposed for COD transactions to encourage pay as you go orders.
Enhancing the purchasing expertise
The Kwik COD app permits companies to handle their transport strategies with ease. Transport choices will be hidden, renamed, or customised in several methods, primarily based on the state, cart vary, weight, product kind, and extra. Kwik COD additionally permits sellers to use totally different parameters to tailor the shopper expertise. Providing probably the most related transport choices can improve the shopper expertise and scale back the possibility of cancelled orders.
One other characteristic that units the Kwik COD app aside is reductions, a strong weapon for manufacturers to leverage. When used accurately, reductions can appeal to new audiences, earn repeat prospects, create a way of exclusivity, enhance the deserted cart restoration price, and enhance the typical order worth. The Kwik COD app affords a spread various low cost choices, including-
01. Engaging reductions on bulk purchases.
02. Bundled affords on the acquisition of a number of gadgets
03. Free items on qualifying purchases.
04. Capped low cost limits to handle enterprise profitability
Making COD reasonably priced
For small companies, each rupee counts. Corporations can battle with further prices related to COD within the early levels. The Kwik COD app affords a aggressive pricing construction that allows small and rising companies to leverage COD.
01. Ecommerce manufacturers can leverage the effectiveness of the Kwik COD app with out paying any expenses to GoKwik for the primary three months. (That is an unique supply just for retailers on Primary and Shopify plans).
02. After the preliminary three months, manufacturers can course of as much as 1,000 COD orders per 30 days at no cost.
03. A minimal cost of 0.5% on COD orders past the free threshold ensures that the service stays reasonably priced and cost-effective.
Get began in 60 seconds
The Kwik COD app is designed to make money on supply seamless for on-line sellers. One among its standout options is the swift set up course of. Customers can set up the app in a mere 60 seconds and get began. Moreover, the user-friendly interface makes utilizing the app a breeze.
GoKwik’s Kwik COD app makes money on supply a boon for retailers throughout the Shopify platform. To know extra in regards to the app,