Fashion & apparel D2C
See the delivered ROAS apparel's returns hide.
A strong catalogue posts 6×–20× order ROAS on Meta — but apparel is India's highest-RTO category. After 25–35% RTO, COD failures and reverse freight, delivered ROAS collapses to a fraction, often under break-even — and you've already scaled the 'winner.'
- 6×–20× order ROAS on Meta — until 25–35% RTO takes its cut.
- Two-thirds COD, and COD refuses at the door far more than prepaid.
- Profitable on paper, flat in the bank — net margin after every RTO, never assembled in one place.
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Typical Indian fashion & apparel benchmarks — your real numbers will differ.
The gap
Order ROAS is a promise. Delivered ROAS is the payment.
A strong apparel catalogue genuinely posts 6×–20× order ROAS on Meta. But apparel is India's highest-RTO category — after the returns, COD failures and reverse freight, only a fraction gets delivered and kept. Here's the collapse, benchmarked.
Profit truth
Profit truth
Delivered ROAS, net margin, and the CAC of a kept customer
Meta counts the booked order. It never nets out the third that RTOs, the reverse freight, the COD fees, the write-offs — so you scale a 9× 'winner' that's actually under break-even, and you can't answer 'did I make money last month?' without a five-statement manual reconciliation. In fashion, delivered CAC also runs materially above the order CAC Meta optimizes to, because a slice of first orders never become customers.
- Delivered ROAS by campaign against your true break-even marker — recomputed on courier-confirmed delivered revenue, not booked orders
- Profit waterfall: revenue → after COGS → after shipping+returns → after ad spend → net, per order / SKU / campaign
- Delivered CAC (cost per delivered, paid order) vs the order CAC Meta reports
Returns & RTO
Returns & RTO
Size, fit, and the return that comes back unsellable
Fit and size drive ~53% of apparel returns, and bracketing — order three, keep one — is now normal shopper behaviour. Shopify shows gross revenue that hides which specific styles bleed after returns. And a returned garment often comes back worn, creased or tag-pulled: a write-off plus the forward freight you already paid, never charged to the ad or SKU that generated it.
- NDR & Out-for-Delivery calling worklist — the exact in-flight COD orders to call or WhatsApp-confirm today, ranked by rescue value & pincode risk Live
- Per-SKU / per-style delivered margin after returns, with Scale / Keep / Stop verdicts
- Return-loss attribution — reverse freight + forward freight + unsellable write-off charged back to the exact ad/SKU
COD reliability
COD reliability
Two-thirds COD, and COD is what RTOs hardest
Indian fashion runs on COD — roughly 65% of orders — the exact payment mode that refuses at the door 2–3× more than prepaid. Every COD order in your 'revenue' has a 1-in-4-to-1-in-3 chance of never delivering, yet the dashboard, the ad platform and the cash-flow forecast all count it as a sale. You need a phone number's delivery reliability before you ship, not after the RTO.
- COD reliability score per phone (RTO Shield) — risk-score the number, not the whole town
- COD → prepaid conversion upside surfaced on the riskiest orders
- COD vs prepaid RTO visibility per order, so a booked order isn't counted as delivered revenue
Products & catalogue
Products & catalogue
Prune the losers out of your DPA feed
With hundreds of styles you have to run Meta catalogue/DPA ads — but the feed optimizes to order-time purchases and spreads spend across everything, including styles that 'sell' yet come back at high RTO or run negative delivered margin. Meanwhile working capital sits trapped in dead stock and high-RTO styles you can't tell apart from real winners on blended numbers.
- Catalogue / DPA product-level profit — spend, delivered ROAS, RTO and delivered profit per product_id, to cut loss-makers from the feed Live
- Per-SKU delivered-profit ranking (Scale / Keep / Stop) with RTO, delivery rate and prepaid share
- Dead-stock value & days-of-cover — cut duds, reinvest inventory & ad spend into high-profit, low-RTO, high-prepaid styles
My Meta dashboard showed 9× and I was scaling hard. Margifi showed delivered ROAS under my break-even once RTO and reverse freight came out — I'd been pouring budget into a style that never actually got kept.
Fashion & apparel founder — illustrative
Illustrative — a category benchmark, not a single brand's numbers.
Questions
Margifi for fashion & apparel — FAQ
Because Meta reports the booked order, not the delivered one. In apparel, 25–35% RTO plus reverse freight, COD fees, discounts and unsellable write-offs land days-to-weeks after the sale, spread across five courier statements. A brand at 15% returns and 10% discounts is working with net revenue 22–25% below what the dashboard shows. Margifi recomputes ROAS and net margin on courier-confirmed delivered revenue, so the real number shows up the day it happens.
See your real delivered profit, fashion & apparel.
Connect Shopify and Meta and watch order ROAS become delivered ROAS — net of every RTO.
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