Month: October 2021

Inventory are the products a business deals with in a market place. In e-commerce businesses, inventory has to be managed effectively to avoid uncertainties of losses. In some cases, it is seen that brands go out of stock because of inefficient inventory management. Including this, brands may face a lot of challenges while bringing new marketing strategies or demands of the market if they do not keep analysis over their stock. These cases arise especially when brands choose to maintain a management mechanism through manual team work. Hence, not only loss of time takes place but also brands lose their high finance for this purpose. Still, there is always a dissatisfaction of outcome when accuracy, privacy and timeliness is not maintained. 

eVanik is a computerized software offering automated business management tools for accounting and reconciliation, inventory management, order processing, etc. This  facilitates the purpose of achieving organizational goals by complete focus on increasing productivity. Currently, there are 92% of online brands who have access to all the details regarding their business activities over just a few seconds. But still, few are lacking behind to enjoy the effectiveness of stock management. 

Struggles Brands Acknowledge:

• Time-consuming And Costly
• Inaccuracy of Data
• Inability to Meet Demand
• Loss of Sale opportunities

• Time-consuming And Costly

Manual management of stock consumes a lot of time for a proper record building. If this is performed manually, it results to be always a waste of human resource. It also creates the need for a software solution that lets the brand work on their own with errorless data handling. It also helps to save the money for investing on a team for this specific mechanism. As compared to this, brands investing on business management softwares saves a lot of finance and time in this regard. It is important to consider that finance is the backbone of any business firm, but efficiency is the utmost need. No money should be invested in such criterias where solutions can be achieve with better services and advantages.

• Inaccuracy of Data Handling

When data is concerned, the process should be effective and transparent. There are many situations where brands go out of their actual reach of data. Sometimes, this also leads to ill management of marketing strategies. Eventually, this ends up giving the company a list of huge losses. Therefore, for better planning for the future, brands need to have good control over their data and strategize accordingly. Brands should build a technique for  receiving trustworthy, comprehensive and transparent data without any hustle or struggle.

• Inability to Meet Demand 

Stock management is crucial because the demand of the market can anytime rise or go down. If there would be  a downfall of the demand graph, an overstock situation leads to wastage of inventory. In contrast to this if the demand rises, there would be a situation of OOS. In both situations, brands face a lot of loss. Mostly they receive negative customer feedback. In this regard, a proper check on the stock availability needs to be maintained by thorough studying the market condition. If speculated earlier, these uncertain losses can be dismissed on the basis of analytical reports. 

 Loss of Sale Opportunities

Stock or inventory is the basic need of any business for its smooth running. If there would be unavailability in the stock in any case, this may result in losing the potential deals to your competitions. Convincing a customer to buy your product would only work when you can provide plenty of products to increase customer engagement. If the same is not taken care of,  there could be a loss of sale opportunity. This also hampers the goodwill of the company as brands would not be able to maintain the trust and dignity towards their customers. 

• Disbalanced Omni Channel Mechanism

Inventory being sold for different channels needs to be taken care of while regularly. If there would not be a system that can enrich this efficiency of the brand, all the multiple channels can’t grab good customer attention. For this, a central control over figures and data that can track and show real-time reports of inventory and its performance over omnichannel is required. Through a software back-office system built for looking after these matters, a smooth and healthy management process can be built for e-commerce sellers or retailers.

Why to Subscribe a Software Support?

 Better Omni Channel Promotion

• Improve Customer Experience
• Large Marketing Scale
• Time and Finance Saving

• Better Omni Channel Promotion

With a software support system, brands can focus on increasing their productivity rather than struggling with back-office activities. Multiple channel management with a software support gets highly efficient as not only the data but problems behind the loss also gets analysed. These softwares give emphasis on transparent data handling over any e-commerce platform. Also, regular and real-time surveillance is enjoyed through them. Better inventory management is the primary thing to assure your good returns through numerous e-commerce channels. 

• Large Marketing Scale

Through instant support on a cloud-based survey, it is simpler and quicker to enhance marketing scope. e commerce platforms are available on a large scale and thanks to these tools that give an automatic solution and analytics on different spaces of the marketplace. Large Marketing Scale is a good thing to focus on as with larger areas, more customer involvement could be raised. Inventory management is a long and stressful process that needs to be performed effectively on a regular basis.Hence, acknowledge a good software for this purpose on the right time for better marketing opportunities.

• Improve Customer Experience

With better stock management, customers always hit your products to their cart and also build a trusting relationship with the brand. If the stock shown is OOS oftenly, this connection gets disturbed. Protecting one's customer to ensure better sales rate and long-term business relationship, it is better to adopt a software mechanism that can help in improving customer sentiments in a short period of time. If software would notify you about your inventory in-house information with accurate speculation, you may get ready for improving your condition.

 Time and Finance Savings

Any business firm would love to have profitable deals at less cost. Especially in e-commerce, dealers or brands face a tough fight to grab deals with dynamic customers. Still, there is no assurance that these customers would stay with them for a longer term. To focus on these issues is very significant and hence promotes the idea of managing things in less cost and time. Inventory  management softwares helps in building more marketing scopes as the back-hand stock management is being performed by them with any mistakes. 

Conclusion

Whenever there is a discussion of inventory or stock management, stress and concern is always on peak. No brand with traditional methods can assure to maintain a control over this subject. In this regard, few softwares like eVanik Networks, work towards enriching the business management activities for different sellers. They not only provide better stock analytics, but also treat your accounting, reconciliation, order processing, marketing strategies and executions, and so on. At the correct time, the right decision needs to be taken. And if you are also a seller with these issues to solve, eVanik is the right place for you with an immediate, accurate, cost efficient and transparent solution.

Online Order Return is a serious problem for all e-sellers. There are several issues because of which a seller may receive their products back from the customers. The online product return or drop-off products are the inventory that gets back to the seller even after sale for one or more reasons. These returns show a special impact on the progress report of the company. Because of this, online sellers make sure to have control over the returns. Returns are always a subject of concern as the customer may not find the brand eligible to make a purchase or the customer does not require the product anymore. In addition, e-retailers mostly suffer the pain of drop off products.

These returns can be for numerous reasons.Therefore, the product gets back to the warehouse again. This also creates complications for accounting, reconciliation, inventory or warehouse management. In addition, it does not let the brands work smoothly and eventually hampers the growth.

Online Orders or Online Selling have more cases of product returns or drop-off. This is because people do not trust fully on online products. These returns are uncontrollable or controllable behaviors as per the case.

These returns are basically of two different types:

• Courier Return
• Customer Return
• Courier Return: when a product does not get delivered to the customer because of an incorrect address or customer unavailability, then that is referred to as a courier return.
• Customer Return:  when a product gets delivered to the customer but for any reason, the customer does not want the product anymore, they can return it to the seller. This type of return is called customer product drop-off or return.

Let us understand the reasons and solutions behind the return of products after purchase:

Reasons of Online Order Returns:

Wrong Product Delivery

When the product purchased has anything wrong or different from the layout, the products are sent back to the seller. This is one of the common reasons as a wrong or different product is unacceptable from the customers’ side. This is so because the company does not have a good warehouse management system. The size or color of the product also gets counted in this. Product return is difficult management that needs special attention in a company.

Wardrobe One-time Purpose

Nowadays, online selling platforms have an easy return policy with a full refund. This has drastically shown an impact on the return rates of products. This creates a scope for customers to purchase a product and return it with one-time use through these policies. Wardrobing refers to buying a product for a one-time purpose and then returning it to the seller. This happens because people want variations with less money investment. This creates difficulty in maintaining a good selling process and product performance as well.

Long-term Return Policy

Online sellers face a disadvantage if they provide a long-term return policy. For example, a product bought on a certain date can be returned after 45 days of the purchase date. This creates a chance for customers to change their minds. A customer’s mind does not like the product experience after a while. This would eventually lead to returning the product within the policy period time. If the time of return would be lengthy, then automatically it will give customers to evaluate the product in every way possible making the product performance go low. Therefore, a seller must be wise enough to set a good return time for a product so that the sale does not get hampered.

“Not in Need” List

Customers buying products may be more into “need purchase”. This means that the customer when receiving a product may not need the product anymore. This will allow them to return them to the seller making no purchase. This type of customer does not entertain any purchase of loss that gives unpleasant results to the seller. Hence, a seller must be ready for these situations as these situations are uncertain in behavior.

Late Delivery of Product

When a purchase gets delivered after the promised date, it results in drop-off products. This is because a product may be purchased for a certain purpose. If these purposes are not fulfilled, the customer tends to return the product. Additionally, this gives a bad impression on the customer. This is a frequent mistake that happens in most brands. Also, this is a basic reason too, for many purchase returns in e-commerce.

Solutions for Online Order Returns

As mentioned earlier, numerous reasons exist and get added with the selling of products to increase return rates. But, there are few precautionary steps an online seller can follow while processing:

Convert Product Returns into Profit

Always be careful and positive about every concern of the business. It is okay to take things easy sometimes but being planned is equally important. To balance every activity of your company, make sure you have the idea of transforming your product return into profit. This means that returned products must get an allocation in the warehouse for better management. Managing things and standing the products in the market works well if a seller has a great business management team like an e-commerce integrated software.

Plan According to Return Assumptions

Always be sure of what is going on in your company, Selling products services online is not an easy task. Sellers must see future opportunities and risks regarding the selling process. If it seems to have returns on a certain rate for a given period of time, smooth managing can help in controlling the uncertainties.

Rotate Drop Off Products in Inventory

If the returned items are good in condition, you may reduce your cost by rotating the product in the inventory for resale. Generally, products that are returned by the customers are damaged or are at fault. But, if the material is good in condition, the same product may get back to the warehouse for resale. This can change your loss into profit as more inventory would be present with you for sale.

Improve Delivery Process

Delivery service plays an important role in the return processes. If the delivery of the product gets delayed by the promised date, in that case, the customer may not be interested in receiving the product’s parcel and eventually end up returning the order. Hence, sellers may focus on improving the delivery service as well as you can’t leave your customer with a bad impression.

Increase Capacity for Festive Season

Festivals often come with great prosperity and opportunities. A seller must play smart during holiday time. We all love to shop for festivals or holidays. This can bring large scope for sale, especially for e-commerce. So, make sure you manage your inventory in such a way that shortage does not knock on your door. You must have items to deal with. And for higher products, a seller’s warehouse must be filled with inventory.

As we understood, product return or drop off is a major part to take care of on time. If a seller does not understand the need to build a better mechanism for its brand selling, then that may create a space for them to lose a good number of deals. Also, it may hinder your progress report leaving behind bad goodwill. Therefore, be wise enough to subscribe to an e-commerce integrated software like eVanik, that can help in warehouse management and inventory management along with accounting integration system, reconciliation system, return rates, fee charges record maintenance, etc. Here, you get all the services at the fastest of all. We guarantee authenticity and accuracy in deals. In less investment, we provide your ease of space to be created in the marketplace. So, save your time and brand by subscribing to us as a helping assistant.

Yes, you heard it right, today we are up with an idea to support your business and help you grow!

We have compiled the best marketplaces in India, where you can register and sell your products online. Let me be more clear, we have appended India’s top 10 online selling sites in this article with a direct link to register.

By the end of this article, you may have registered to a few of them and have already started growing online.

And eVanik- Oneworld suite for all e-commerce solutions will always be there to ameliorate your experience.

So, without depleting more of your time let me quickly take you to a virtual tour of the best online marketplaces in India. 

Starting with the world’s largest online marketplace that every retailer wants to be a part of.
Yes! Amazon is what I am talking about.

What is Product Listing?

To start selling your product on Amazon.in you first need to list it on Amazon.in. You can provide your product information such as the product category, brand name, product features and specifications, product images, and price. All these details are available to your customer to help them purchase your product. See the image below:

There are 2 ways of listing a product on Amazon.in:

1. In case the product is already available on Amazon, you can add your offer by matching or scanning the product barcode or ISBN using the Amazon Seller Central App.
2. In case the product is not available on Amazon, you can create a new listing by uploading product images and adding the required details.

Adding a new offer on existing listings

In case the product is already listed on Amazon, there are just 2 simple steps that you need to follow to add your offer:

• Add the price at which you want to sell the same product
• Add the number of units/quantities that you want to sell

The combination of product and listing information is referred to as “item information” or “inventory information.”

Creating a new product listing page

If the product that you want to sell on Amazon is not available for sale, then you need to create a new listing.

The following are the details required for new product listing on Amazon:

Product Title

Talk about what the product is. A maximum of 200 characters is allowed in the product title. Remember to include the Brand/Manufacturer name right at the beginning of the Product Title. If you’re selling a product that’s never been sold before on Amazon, then you need something called product ID. It’s a unique identifier for commercial products. UPC barcodes, EAN are all variations of Global Trade Item Numbers or GTINs.

Images

Amazon has provided the image guidelines. To improve your listing quality, the image resolution should be in the range of 500×500 pixels to 1000×1000 pixels. The ideal size is 700×700 pixels. Ensure that the images are of high quality. Try to capture the product images from different angles. Lifestyle images should be portrayed in different use case scenarios. Highlight the product USPs in the images, focus more. Try to use infographics to differentiate the uniqueness of your product from others.

Variations

Variations are the options available in the product that may include color, size, etc.

Bullet Points

Bullet points are essentially short descriptive sentences that highlight the features and benefits of the product to the buyer. Ideally, there should be 5 bullet points for the product.

Feature offer (“Buy Box”)

This is the detail that triggers the “add to cart” or “buy now” from the buyer. This essentially means the price at which you would like to sell and any other offer that you would like to promote.

Other Offers

The same product is sold by other sellers who have offered different prices or shipping options.

Description

This is the section where you need to provide a detailed overview of the product. The description section should contain all important keywords (what buyers are searching) so that the product gets searched and discovered easily. Keywords are one of the most important factors that increases your chances of being visible to potential buyers. Research the right keywords for your product listing based on CPC (Cost per Click), search volume, relevancy, and other parameters.

The first one is search terms which are usually referred to as backend keywords. If you have any synonyms or any other keywords that you’d like to put into your listing, you can add those search terms there.

You will also need to take category approval and will need to provide some additional documents or information for some categories. These categories are called gated categories, as per the list below:

• Automotive and Safety Accessories
• Baby Products
• Food & Grocery products
• Health, Hygiene & Medicine
• Kitchen Products
• Pet Products
• Protected Brands
• Toys

In case you need help with listing, The Amazon Service Provider Network (SPN) also helps in getting support from professional third-party service providers such as eVanik Networks who have a lot of experience to help you with the same.

Best Practices to get higher search and more sales on Amazon

While adding new products on Amazon is a simple task, it’s more important to continually improve on the Product Listing Quality. Here is the list of ongoing best practices that you must adopt to get the best out of Amazon.

• Use Original Images: Copied images from the internet is a bad idea. You must hire a professional photographer to get your product shot.
• Content Optimization: Listing of a product on Amazon should never be considered complete. You must keep improving the content and optimize it to improve the search and visibility.
• Measure Performance: Keep measuring the performance by altering the elements of the listing periodically. BSR (Best Seller Ranking) is one simple metric to help you understand the listing performance.
• Offers: Amazon provides a host of promotional event options such as coupons, lightning deals, etc. Make maximum utilization of such events to help rank your products better on Amazon.
• Related Products: Amazon provides the option of adding related (existing) products to your product listing page on Seller Central. Linking your products to other products is a good tool to provide overall visibility of all your products.
• Category Selection: If you feel like your category might qualify for two different categories, then the wisest thing to do would be to look at where the existing sellers are listed and look at their corresponding daily sales and revenue whatever category is making the most amount of sales.

Amazon product listing Restrictions

The following should be avoided when listing products on Amazon.

• Don’t use terms like best, free, buy one get one or subjective terms like cute, cool, etc.,
• Stay away from trademark words & Amazon words like special amazon deals.
• Don’t do keyword stuffing because neither amazon, nor the buyers like it
• The incomplete listing will be suppressed, fill out all the information required.
• Don’t use time-sensitive information, like the best product of the year.
• Don’t put shipping details on the description, like free shipping or the shipping duration.