Obvi proves how an automated, efficient approach to a common eCommerce problem like chargebacks can lead to tangible improvements in a company’s revenue and bottom line.
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The eCommerce industry, a dynamic and ever-expanding realm, faces a significant yet often overlooked challenge - chargebacks. This issue, a frequent consequence of high-volume sales, results in staggering annual revenue losses of around $31 billion. At the forefront of this challenge is Obvi, a high-volume seller in the health and wellness supplement market. Like many in this sector, Obvi has been grappling with the complexities of chargebacks, seeking efficient and effective solutions to this pervasive problem. Let’s explore how amidst these challenges, Obvi partnered with Chargeflow to help them master the art of managing chargebacks.
Previously, Obvi had been paying a freelancer $40 per chargeback case, which, under the old model, would have amounted to $13,360, with only a 20% win rate. In contrast, Chargeflow’s success-based model (charging 25% of the cases won) led to a payment of only $2,606. This new approach not only saved Obvi money but also added $7,820 to their bottom-line revenue. The annual savings amounted to $21,508, with an additional $15,640 in revenue - a significant financial turnaround achieved in less than two minutes of app installation.
While Obvi thrives in the competitive health and wellness supplement market, they are faced with the common challenge of chargebacks. In many cases, the culprit of these chargebacks is ‘friendly fraud’, which poses a serious threat to their bottom-line profit. The dilemma was not just the occurrence of chargebacks but also finding the most efficient way to handle them, ensuring a high win rate to safeguard the company’s financial interests.
Obvi was faced with choosing from two options: either to continue with the manual approach of having their Customer Experience (CX) manager or an outsourced freelancer painstakingly fight each chargeback, or transition to an automated platform that could manage the entire process. Obvi decided on the automated approach, implementing Chargeflow, a platform known for handling chargebacks from start to finish. This shift marked a significant strategic decision, aiming to streamline their chargeback handling process and improve efficiency.
Before Chargeflow, Obvi win rate in chargeback cases was around 20%. After integrating Chargeflow into their operations for almost six months, their win rate soared to 54% - a remarkable 170% increase. Chargeflow successfully won 132 out of 244 cases, recovering $10,427 in lost revenue.
Le cas d’Obvi met en évidence l’impact transformateur du choix des bons outils et des bons partenaires dans le monde des affaires. La décision d’adopter Chargeflow des avantages financiers considérables et Chargeflow des gains d’efficacité opérationnelle. Obvi démontre comment une approche automatisée et efficace d’un problème courant du commerce électronique peut se traduire par des améliorations tangibles du chiffre d’affaires et du résultat net d’une entreprise. L’expérience d’Obvi témoigne de la puissance des solutions innovantes pour relever les défis spécifiques à un secteur et améliorer la performance globale de l’entreprise.
"Chargeflow transformed our approach to chargebacks, [.c-text-blue]increasing our win-rate from 20% to 54% in just six months.[.c-text-blue] This shift not only saved us significant costs but also allowed us to focus on our core business. Chargeflow’s solution was instrumental in [.c-text-blue]overcoming a major eCommerce challenge, proving invaluable to our operational efficiency and financial health.[.c-text-blue]"
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300%
Augmentation du taux de victoire, en moyenne
4X
Garantie de retour sur investissement
90%
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