The problem area revolves around optimizing the payment process of e-commerce to increase sales rate and customer satisfaction by introducing the new option of paying after getting the order.
According to research, the Cash on Delivery (COD) mode is preferred by e-consumers and is an important factor in building trust between consumers and electronic sellers. Buyers using COD show good faith by providing clear information about their identity and carefully studying product descriptions before making a transaction.
Determining the optimal payment method (pre or post-order) to offer to maximize sales rate for e-commerce.
A/B Testing: - Compare checkout processes with different payment methods using A/B testing methodology. Use statistical analysis to determine if differences in sales rate between groups of people paying before and after getting the order are statistically significant.
Segmentation: - Conduct user segmentation analysis to identify if certain user segments prefer one payment method over the other. Perform look-alike analysis and diffusion research based on the results.
Testing: Choose metrics to evaluate the experiments, such as mean sales in both treated and controlled groups. Perform power analysis and calculate the required sample size. Sample for control/treatment groups with the calculated sample size and run the test. Analyze the results and draw conclusions.
Segmentation: Conduct look-alike analysis and identify key groups of diffusion. Define groups for our data based on the results.