Case study · Case study
How an illustrative COD apparel brand cut wasted ad spend on RTO
An illustrative walkthrough of what Margifi surfaces for a COD-heavy apparel brand — delivered ROAS, SKU margin after returns, and RTO cost attributed back to the campaign.
Illustrative example — not a real customer. Figures are representative, shown to demonstrate what Margifi reports. We'll replace this with a verified, consented case study — we don't publish invented proof.
This is an illustrative example, not a real customer. The numbers are representative ranges chosen to show what Margifi reports, not actual results.
The setup
An apparel D2C brand running roughly ₹6L per month on Meta, about 60% of orders on COD. On the Meta dashboard, the blended ROAS read a healthy 4.0x, so the brand kept scaling its best-performing campaigns.
What Margifi surfaced
- Delivered ROAS of 2.6x against a platform ROAS of 4.0x, once undelivered and returned COD orders were netted out.
- Two hero SKUs that were margin-negative after returns, despite topping the revenue chart.
- One scaling campaign with a 38% RTO rate, quietly carrying the cost of every return it generated.
The illustrative outcome
Reallocating spend away from the high-RTO campaign and pausing the two margin-negative SKUs would, in this illustration, lift delivered margin without touching topline ROAS targets. The point is not the exact number; it is that the decision only becomes visible below the order line.
Platform ROAS said scale. Delivered ROAS said the opposite. Only one of them matched the bank account.— Illustrative — not a real customer quote