Episode 10

Blackcart Founder Donny Ouyang Facilitates “Try Before You Buy” for Online Merchants

The company wants to help ecommerce retailers boost their conversion rate.
Donny Ouyang

Picture courtesy of Blackcart

Shereen Abdulla

Podcast Host

Published

05.05.22

A year ago a shopper posted a video of herself on TikTok buying clothes from Zara, then strolling into an H&M store next door to try them on because Zara’s fitting rooms were closed—before going back to H&M to return the items she didn’t like. It went viral, but more importantly it underscored the fact that a majority of people like to try merchandise on before purchasing. 

Although ecommerce accelerated during the pandemic, conversion rates still hover around 3%, whereas in-store conversion is more than 20%, says Donny Ouyang, the founder and CEO of Toronto-based Blackcart

To help online merchants boost that metric, Blackcart runs a risk score on buyers which makes them eligible–or not–for a “try before you buy” option. 

Donny joins us on this episode of Rise of the Next to tell us how he stumbled on that idea, and some of the trends he sees shaping ecommerce. 

Subscribe here to episodes of Rise of the Next on major streaming platforms.

 

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Shereen Abdulla

Podcast Host

Shereen Abdulla has more than 12 years of experience in innovation management and entrepreneurship in the financial and tech industries. She has helped foster startup ecosystems across the Middle East to bring together founders, investors, corporations and government entities, and consulted on corporate innovation. Shereen holds a BSc from the London School of Economics and an Executive MSc from Columbia University.

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