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Case Study
Xtep

How We Shifted Xtep From Revenue Growth to Profitable Order Growth — Driving 4x Revenue While Cutting Cancellations & RTO by 33%

Xtep is a global sportswear and athletic footwear brand offering performance running shoes, apparel and accessories. As its India D2C business expanded, the growth question moved beyond how many orders advertising could generate to how valuable those orders actually were.

 

A high dependence on Cash-on-Delivery meant revenue numbers could overstate realised business. Cancellations and RTO created downstream costs, while attribution inconsistencies across Google and Meta made it harder to know where profitable growth was actually coming from.

 

The mandate was therefore broader than ROAS.

Key Business Challenge

Build a D2C acquisition engine that could grow revenue while improving order quality, prepaid adoption and attribution accuracy — so marketing performance translated into stronger business profitability.

Campaign

D2C – Google & Meta

Industry

Sportswear & Footwear

Key Growth Levers

Google | Meta

Before Re-architecting, We Diagnosed
Where Reported Revenue Hid Real Economics

High COD Dependence

With 45% of orders coming through COD, order volume carried greater cancellation and RTO exposure.

Attribution Gaps

Inconsistent measurement across Google and Meta made channel performance and budget allocation harder to evaluate accurately.

Unequal Order Quality

A conversion wasn’t necessarily a successful sale. Optimising purely for purchases ignored what happened to the order afterwards.

From Maximising Orders to
Building a Performance Engine Around Revenue Quality

Attribution Clean-Up

Rebuilt Google and Meta account structures to reduce measurement gaps and create a clearer foundation for campaign and budget decisions.

Order-Quality Focus

Evaluated acquisition with cancellations and RTO in mind, ensuring reported conversions weren’t viewed independently of downstream order outcomes.

#ROI

Prepaid-Led Nudges

Used offer positioning and purchase-journey optimisation to make prepaid purchases more attractive and reduce COD dependence.

Intent-Led Acquisition

Refined audiences and campaigns towards higher-intent customers rather than optimising solely for maximum purchase volume.

Profit-Led Allocation

Used cleaner attribution and stronger order signals to direct budgets towards campaigns delivering healthier business outcomes.

We expanded performance optimisation beyond the purchase event — aligning media, measurement, audience quality and checkout behaviour around orders more likely to translate into realised revenue.

Results Within 6 Months

Revenue
↑ 0 X
ROAS
↑ 0 %
Cancellation & RTO
↓ 0 %
Bonus Win!

The order mix got healthier. COD contribution fell from 45% to 30% while revenue grew 4x — making growth substantially more valuable beyond what platform ROAS alone could show.

Our Learnings
We Don’t Just Optimise for Orders

We Build D2C Engines Around Revenue That Actually Realises
01

In COD-heavy categories, platform ROAS can overstate business performance. Cancellation, RTO and payment mix belong in the performance conversation.

02

Prepaid share isn’t only an operations metric. Media targeting, offers and the purchase journey can actively influence the quality of orders being acquired.

03

Attribution quality becomes more important as budgets grow. Scaling from inconsistent measurement can amplify the wrong campaigns as easily as the right ones.

04

The best acquisition engine doesn’t maximise conversions at any cost. It maximises the proportion of conversions that turn into profitable, fulfilled orders.

For us, profitable D2C growth isn’t about how much revenue an ad platform reports — it’s about how much of that revenue survives the journey from click to fulfilled order.
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