SUMMARY
- GoKwik has acquired Return Prime, a global returns management application within the Shopify ecosystem.
- This allows GoKwik to expand its presence into the international markets of the UK, Europe, and the US.
- It is anticipated to increase the revenue potential for merchants worldwide and elevate the customer lifetime value (CLTV).
Leading ecommerce enabler GoKwik has recently acquired Return Prime, a global returns management application within the Shopify ecosystem.
This acquisition positions GoKwik to expand its presence into the international markets of the United Kingdom, Europe, and the United States.
Through this acquisition, GoKwik intends to introduce a solution that not only enhances the customer experience but also significantly increases the revenue potential for merchants worldwide, while simultaneously elevating the customer lifetime value (CLTV).
Return Prime, established in 2021 by Shashwat Swaroop in Bengaluru, offers a comprehensive customer return platform designed to streamline the management of returns and transform them into revenue-generating opportunities. The platform is utilized by numerous brands for the automation of return logistics, refunds, replacements, and other related processes.
Return Prime claims to have a portfolio of approximately 6,000 Shopify brands across 50 countries at present. Following the acquisition, GoKwik is set to integrate over 10,000 additional merchants into its network over the forthcoming six to twelve months, leveraging Return Prime’s innovative technology and established relationships to penetrate new markets.
This initiative is anticipated to catalyze substantial revenue growth, with GoKwik projecting a threefold increase in its total business revenue by the year’s end and a tenfold expansion in its merchant base over the next three years.
Prior to this acquisition, GoKwik had also acquired the WhatsApp commerce management platform, Tellephant, which was subsequently rebranded as KwikEngage. Within the span of a year, KwikEngage has contributed to 30% of GoKwik’s overall revenue and has experienced a remarkable 20X growth in its merchant base.
