Sell on Meesho & Become a Key Part of the eComm Industry!

Sell on Meesho and Become an Essential Part of the eCommerce Industry!

Who doesn’t want to earn an extra income in this overcrowded and over-expensive human era? A good source of extra income can be a blessing for every eCommerce seller. In this regard, eCommerce platforms like Meesho provide an immense opportunity to generate revenue while being in your comfort zone or from home. Suppose you wish to sell or resell products through social media platforms such as Facebook, Whatsapp, and Instagram and sell on Meesho. This emerging platform allows every common man and woman to start their own online business.

As an eCommerce seller, if you want to earn immensely by reselling your products, then Meesho is the perfect eCommerce joint for you. It is specifically a reseller eCommerce platform that one can use to resale various product categories such as women’s wear, men’s wear, kids’ wear, home appliances, cosmetics, etc.

This platform provides a massive opportunity to local sellers to make their online presence and earn their bread and butter. Compared to other eCommerce marketplaces such as Amazon, Flipkart, and Myntra, it is much easier to start your journey with Meesho. You don’t require a hefty investment, nor do you need to pay a considerable commission while selling products on this platform. This blog will discuss multiple aspects of selling products on Meesho.

What is Meesho & How It is Different From Other Platforms

Meesho has become one of India’s leading reselling eCommerce marketplaces. Two Delhi graduate Iitians, Sanjeev Barnal and Vidit Aatrey established this glorious channel in the year 2015. At present, this eCommerce platform has more than two crore resellers. This platform allows resellers to get associated with various manufacturers from their locations and list their products on this platform to sell. As a Messho seller, you can choose several products from the listed categories and sell them through social media platforms. The best factor about this eCommerce venture is you can start your business from any corner of this country. Investment is relatively low, which is an excellent relief for new sellers. If we talk about how this platform differs from others, well, it allows every local seller and ordinary folks to start their own online business. Except for Amazon, no other platforms allow sellers to resell their products.

Sell on Meesho By Following These Easy Steps

If you want to sell on Meesho and generate immense profits, you must follow some steps effectively. Here we have mentioned some essential selling guides that can help you sell or resell your products on this platform. In order to start selling on Meesho, you must have a GSTIN number and an active bank account.


#Step1 ( Create Your Meesho Seller Account)

To sell on Meesho, you first need to download the Meesho app and register yourself on this Meesho supplier panel. Now you have to enter your GSTIN number, your PAN number, and the details of your active bank account. These are a few pieces of information mandatory to create a seller account on this eCommerce platform. Once you provide this vital information, you must provide your order pick-up address to this platform. In this way, your registration process will be successful, and now you can visit the Meesho supplier dashboard via your email id and password. Apart from that, you may also require eCommerce accounting software such as eVanik OWS to manage your accounts and other backend operations.

#Step2 ( Product Listing on Meesho)

Once the registration process gets done, the next crucial step is listing the catalogs of products you want to sell on this platform. Listing more than three product catalogs can help you with more orders and, eventually, more revenue. Product listing should be accurate with excellent quality images and descriptions. It can help you attract more eyes and sell your products efficiently and effectively. Meesho provides two options to upload your catalogs. You can upload single as well as bulk product catalogs on this platform. Make sure that your listing is up to date and that you are not missing on any factors.

#Step3 ( Start Receiving Orders from Customers)

After listing the products on Meesho, you can start promoting your products through various social media platforms. On the other hand, you can precisely receive the orders from the Meesho app as well. In the process of receiving a dynamic number of orders from customers, it is essential to manage your inventory profoundly and to ease this problem, and you can get along with eVanik OWS and use their significant inventory reconciliation feature. This market is competitive, and to beat your competitors, you may need to take the help of automated software.

#Step4 (Start Delivering Your Orders)

Product delivery is an essential aspect of the Commerce business. Once you are ready to receive customer orders, Meesho sends the email notification to your supplier panel app. You need to accept the order first and then start packing the product with accurate labels on each package. This platform’s minimal shipping charge can be counted as no shipping charges. After the packaging, hand over the order to the courier partner, Meesho has a panel of various third-party logistic partners who take responsibility for picking up the package and delivering it to your customer’s doorstep.

# Step5 (Start Receiving Payments on Delivered Orders)

As a Meesho seller, you can receive the payment on every single order after fifteen days of order delivery. This process is the same for the cash on delivery orders as well. The payment will be credited to your active bank account. If you want payment details, you can check your Meesho supplier panel. Through this panel, you can receive every detail regarding your payment cycles, such as how much your deposited balance is, future payments, and other payments. On every order, Meesho charges a fixed commission from their sellers; it can be less than twenty percent on every order.


Conclusion

Meesho is a flourishing eCommerce platform in India for small businesses. Absolutely anyone can start selling products on this platform with a lower investment. Significantly it has provided extraordinary opportunities for homemakers to earn their living without being dependent on anyone. Sellers, resellers, and small brands can also choose this platform to sell or resell their products effectively and scale up their customer base. Meesho is getting more significant daily, and customers are showing tremendous interest in it.

However, in this platform’s initial year, customers complain about the product’s quality. Still, with time, sellers are more likely to deliver a good quality product to their customers. In a nutshell, we can say that this eCommerce joint is a recommendable business opportunity for every small and typical vendor and retailer.

Essential Steps to Register Yourself as a Nykaa Seller!

Essential Steps to Register Yourself as a Nykaa Seller!

Today no one can accomplish their beauty goals without being a Nykaa beauty customer. It’s a fact, and customers can not deny this; this beauty revolution brings immense opportunity for you as a seller. Nykaa has marked its presence as the most promising fashion and beauty brand in the eCommerce industry. Falguni Nayar founded this alluring beauty company in the year 2012. This platform is not only a boon for beauty and fashion lovers but also sellers.

This eCommerce beauty platform is not only promoting Indian brands but international brands as well. Nykaa has recognized as the most premium online marketplace; it is associated with more than 70 luxurious and approximately two thousand authentic Indian brands. It has beauty products for every age group of customers. A few years back, Nykaa launched its fashion range as well. Fashion attire is also a part of this platform in which one can sell apparel. To become a Nykaa seller, you need to follow some crucial steps. This blog will mention some of the essential steps to registering yourself as a Nykaa seller and the product list you can sell on this platform.


Follow These Steps to Become a Nykaa Beauty Seller

The registration process can be different for every eCommerce marketplace. Here in the following steps, you can register yourself as a Nykaa beauty seller much more quickly.

Step1.

To register as a Nykaa beauty seller you must visit the Nykaa seller panel and enter your brand name and registered address. You can register as a brand owner, wholesaler, and distributor on this platform. This platform will ask for your PAN card information, contact number, and bank account details. You can access your seller account with a username and password. With a brand permit, you can quickly start selling branded products on this eCommerce beauty channel.

Step2.

Once you register as a seller on this beauty platform, you must select your desired product category. At Nykaa, you can sell products from various categories such as makeup, skin, hair, appliances, bath & body, natural, mom & baby, health & wellness, men, and fragrance. You can choose multiple products to sell from these product categories. However, if you want to sell your own branded products on this platform, you need to take approval from Nykaa; you may get approval easily if your product is genuine. Nykaa can initiate a background check for a new brand. You must upload a trademark certificate if you want to get along with Nykaa as a brand.

Step3.

This is the final process to register yourself as a Nykaa seller. In this process, you need to fill the point person form with your existing email id, phone number, and other details. After the final submission of the form, you may receive a confirmation email from this eCommerce platform within 2-5 working days.

After getting the confirmation email from Nykaa, you need to login into your seller account and list the products you want to sell on this platform. Once you finish the listing, you need to click on the sell now button to start selling.

Required Documents to Sell Your Products on Nykaa

A GST Certificate

To sell beauty and personal care products on Nykaa, you are required to have a GST certificate that approves your products have been supplied or produced in compliance with the requirements of the GST act. A GST certificate is crucial in terms of establishing any business. To file your GST on time and manage your accounts efficiently, you can use accounting software for eCommerce, such as eVanik OWS.

Trademark Certificate

In terms of selling your products on various eCommerce platforms, you require a trademark certificate proving that your trademark is registered with the trademark office. This document proves that you are the trademark’s exclusive owner and can legally sell the items. You also need to submit your trademark certificate on Nykaa as well.

Nykaa is the best platform if you want to sell a wide range of beauty and personal care products. It has a lower process and easy payment options; this platform also offers a user-friendly interface that makes it easy to find and sell products. This platform also provides eCommerce with fantastic customer service that can help you make a solid customer base.

Benefits of Selling Beauty Products on Nykaa

  • Nykaa beauty’s eCommerce platform is a top online selling platform in India. It is most popular on the online platform among women and has a massive customer base. More than 50% of its products are for women. According to the latest survey conducted by the Indian eCommerce market, Nykaa is India’s largest online beauty eCommerce that has attained maximum revenue this year.

  • Nykaa is one of the famous beauty eCommerce platforms in India. It offers all the top trending beauty brands, and you sell your products PAN India. This platform provides free shipping on the best-listed products on this platform.

  • This platform has all the leading beauty brands customers generally look for. You can either sell your products or products that are authorized to sell by the brands you want to represent on this platform.

  • The impeccable customer service of this platform provides a chance to please your customers and let them connect with you for a more extended period of time.

Grow Your Nykaa Beauty Business in These Following Steps

  • Offer attractive discounts and coupons to your Nykaa customers.

  • Offer free shipping on a certain amount of orders.

  • Send a personalized message with every order to make your customers feel special.

  • Create a promotional campaign for your Nykaa beauty customers.

  • Inform your customers about all your new launches via emails and messages.

  • Get subscribed to eVanik OWS to automate all your backend operations and eliminate the complexities of your business.

Conclusion

In this way, you can become a successful Nykaa seller and make your solid presence in the eCommerce industry. In the online business, there are so many aspects that you need to take care of apart from just selling your products. You must manage your accounts, inventories, shipping, returns, and payments as a seller. Managing these aspects manually can increase the chance of various human errors, but if you get along with eVanik OWS, you can automate these aspects. This software can save time and effort and let you focus on the other important aspect of your eCommerce business. Suppose you have an interest in selling beauty and personal care products. In that case, you must go for this platform because there are various profitable factors behind it that we have already mentioned above.

7 Ways to Scale-up Your eCommerce Sale During Off-Season!

7 Ways to Scale-up Your eCommerce Sale During Off-Season!

Associating with eCommerce businesses requires robust sales, whether in-season or off-season. We are referring in-season to the festive season; this time of year can provide you with many opportunities to increase your sales and compellingly upgrade your revenue. But the real challenge is up-scaling your sales during the off-season; you must wonder how to cope with the off-season to let your business survive smoothly.

The off-season is challenging for every business; sales are meant to fall down during this period of time. Your eCommerce business can not survive long if you don’t implement various strategies to upscale your sales during the non-festive season. Implementing several mindful strategies to increase your eCommerce sales during the off-season would be best. Always keep in mind that festive seasons can not land up for a more extended period, so it is essential for you, as an online seller, to plan your sale strategy for the off-season. Here in this blog, we will mention some remarkable ways to help your eCommerce business make the most of the off-season. Let’s dig in and find out what ways you can implement to increase your sales during the off-season.

Impeccable Ways to Increase Your Sales During Off-Season

Sell Daily Essential Products on Marketplaces

Since the origin of the eCommerce industry, customers’ preferences have changed, and they are more likely to shop for products from an online marketplace. Since the eCommerce marketplaces are flooding with daily essential products, it has automatically provided a chance to increase your sales during the off-season as well. eCommerce channels such as Amazon, Flipkart, and Snapdeal are into selling daily essential products to their customers. So, as an online seller, you can also grab this opportunity to hike up your sales during the off-season. Customers require daily essential products during the whole year; it does not matter whether the festivals are around the corner or not. Hence, selling such products on marketplaces can upscale your eCommerce sale during the off-season as well.

Please Your Customers Throughout the Year

The ultimate key to increasing sales during the off-season is to keep your customers engaged and provide them with a pleasant shopping experience throughout the year. You can introduce new products to attract their eyes, or you can even make them able to send them quirky messages or emails on their birthdays and anniversary and offer them some discounts on products that you want to sell during the off-season. The key is making them believe they are essential to you. This tactic can help you immensely in terms of escalating your sales off-season. To provide them with a pleasant experience, you need to keep your inventory up to date. In this regard, you can use an inventory management system to manage your inventories appropriately. Various software, such as eVanik OWS, can provide this impeccable service and help your business thrive during the off-season.

Run an Off-Season Sale

Implementing an off-season sale is also the best option to increase your sales during the off-season. Customers always look forward to some discounts and offers while shopping online. In this scenario, if you provide them exactly what they want can undoubtedly increase your number of sales. Promising coupons, sales, or launching new products pushes customers to online marketplaces. As a seller, you have to do something fascinating for your customers to attract their attention and make them shop even if they don’t want to. According to market research, more than 65% of customers wait for a sale to shop from online stores. So plan an off-season sale and inform your customers through social media posts, emails, and Whatsapp messages. Create a FOMO ( fear of missing out) that they are really missing out on some tempting offers.

Go Social and Experience the Magic

If you cannot attract customers on marketplaces during the off-season, do not get demotivated because this is certainly not the end. You still have various sources that can effectively hike up your sales no matter what. Social media platforms are great alternatives to marketplaces in terms of attracting more eyes. Customers who shop online must be on social platforms such as Facebook, Instagram, and Pinterest. So to increase your off-season sales, you can explore these social platforms and interact with a massive number of customers. Make them aware of your new products and try everything, so they click on your products and get directed to your eCommerce page. Implementing this tip can effectively increase your conversion rate during the non-festive season.

Sell Seasonal Products

Suppose you are selling AC, cotton clothes, and all those kinds of stuff meant for summer, and customers usually don’t buy such products during the winter season because they don’t need that. But the twist is if you sell the same products in winter or winter products in summer at a pretty reasonable price, you can still generate revenue. You can announce an off-season sale or attractive discounts on such products that customers mostly find during a specific season. Just in case you cannot sell some specific products during its required season, you can offer a discount on them. Customers will surely buy them in no time. In this way, you can still manage to scale up your sales during the off-season.

Offer Customized Products to Your Customers

Optimizing your eCommerce business can also provide great flexibility to your business during the off-season. If you can browse the shopping pattern of your customers, it can become easier for you to offer them customized products as per their taste. According to a recent survey it has been found that customers prefer to buy customized products as it saves their time. Hence you can use this tactic to make their shopping experience more engaging. To know the past shopping behavior of your customers, you can use centralized inventory management software, which can not only reconcile your inventory but also provide essential information regarding your customers’ preferences.

Enhance the Quality of Your Products

In the end, enhancing the quality of your existing products can be the ultimate way to upscale your sales during the off-season. Having an outstanding product can be the USP that can help you attain more and more sales even during the off-season. You need to understand that eCommerce sellers get benefits during the festive season or holidays despite selling a bad quality or underrated product. But if the quality of your product is tremendous, customers may look forward to buying them in the off-season as well. Thus, it is crucial to maintain the quality of your product if you want to escalate your off-season sale.

Conclusion

Thus, these are some effective and practical ways to help you scale up your off-season sale. Do not lose hope if you are not able to sell your products during the non-festive season. The ways mentioned above can help you immensely achieve your economic goals during the off-season. However, apart from implementing the above ways, you should also subscribe to powerful eCommerce management software to automate your backend operations such as payments, inventory, shipping, returns, and accounting. In this regard, eVanik OWS can become your ultimate support.

Product Research Tips to Open the eCommerce Opportunities!

Product Research Tips to Uncover the Ultimate eCommerce Opportunities!

The mega opportunistic eCommerce industry is quite attractive for millions of sellers. But the biggest challenge is deciding what to sell to make the most of this alluring business. One excellent product idea can make you the king of this online business. However, the manifestation of that one product idea doesn’t come to your mind quickly, and you can not wait to let it strike your mind. You have to make it happen before establishing yourself as an eCommerce seller.

Once you decide that you are going to enter this industry, you need to analyze the whole market, and one thing that matters the most is product research. However, today you can sell anything on online marketplaces. But the fact is that during the initial period of your business, you need to offer something beneficial and authentic to your potential customers.

Always remember that you are not the only one in this realm; so many other sellers are already selling the same product that you may plan to sell. This is when you require to go through robust product research. Here in this blog, we will uncover some of the terrific product research tips you can use to sell the most demanding products on eCommerce platforms.

What is Product Research?

Before knowing the tips of product research, it is essential to know what actually product research is. Well, it is a practice by which you can discover a new product idea that can prove valuable for your eCommerce business. This method can help identify your product idea that meets the market demands and customers’ requirements.

Implementing product research can provide better results on ROI(return on investment) on your product. Product research involves gathering all the essential information about your targeted customers’ buying habits, requirements, demands, and what they like to shop more. Respectively, the product research method can help you to analyze the product concepts, competitors, and pricing.

Incredible Tips for eCommerce Product Research

Analyze In-Demand Products

In the starting phase of your online business, if you do not yet have any product idea in your mind, you can get inspiration from current in-demand products that fall into the bestseller category on prominent marketplaces such as Amazon and Flipkart. You can visit some of the famous social media platforms such as Facebook, Instagram, and Pinterest to check out their trending hashtags, and you might get enormous product ideas from there.

You can visit some brick-and-mortar stores to analyze customers’ most demanding products. Open your mind and analyze wisely which products are currently popular among the customers. Try not to convince yourself that your product idea is better than others. Do not underestimate the ongoing trends and demands, or you may put yourself at a loss. Once you get a product idea, you may require inventory management software to adjust your inventories on multiple eCommerce platforms automatically. In this regard, you can subscribe to eVanik OWS.

Read Out the Feedback and Reviews

While researching your products, you must read customers’ reviews and feedback on any prominent eCommerce platforms. Reviews can become the best way to evaluate the requirements and tastes of customers. You may develop a better understanding of what your customers like and what they do not like while shopping from an eCommerce platform.

You can visit Amazon, one of the giant eCommerce marketplace, and read out the feedback and reviews on their best-selling products. Customers often use this section to explain what they like and dislike about a specific product and what they recommend to make changes to buy that product again in the future. This practice can give you a broad idea of how customers think throughout their buying process. There are possibilities that you may land on an excellent product idea while analyzing feedback and reviews of customers. It can even provide you with an idea of what problems customers are facing, and you can take advantage of it by resolving them for your potential customers.

Check-Out B2B Marketplaces

Believe it or not, B2B marketplaces are a bonanza for attaining a new product idea for your eCommerce business. Various B2B marketplaces can expose an enormous number of product ideas that you can apply to your online business. Moreover, B2B marketplaces allow you to add any product to their cart, and you can source your supply directly from the eCommerce marketplaces if you like any specific product to sell.

Indiamart, Udaan, and Trade India are some of the few B2B marketplaces that can directly connect you with manufacturers, suppliers, and wholesalers from all over the country. These platforms have thousands of products you can explore and select to start your eCommerce journey. Exploring B2B marketplaces can be an excellent way to know what B2C platforms are selling. It is because most sellers only source their products from a B2B platform. Hence It can be one of the best tips for product research.

Become a Watchdog of Your Competitors

To make your eCommerce business successful and choose a niche product to sell, it is best to watch out for your competitors or other sellers to know what they are selling and what strategies they are applying to their business. But the fact is you can not analyze the journey of any typical sellers who are just doing good. You may require to go out of your way and find out the most prominent sellers or brands, for that matter, who have already come a long way and have a reputation in the market.

Take the help of google and other search engines of eCommerce platforms to analyze the top trending products and their sellers. Get inspiration from them but try to make a robust product plan that can help you in beating them and attract more customers. Also, it is not necessary that what works for them will work for you; if they are selling a most demanding product, you must try to sell such products that may have more potential to fulfill customers’ current requirements.

eCommerce Product-Based Criteria to Watchout Before Start Selling

  • Must analyze the product size and weight before selecting a product to sell on various marketplaces.
  • Check out the durability of your product.
  • See whether your product is seasonal or you can sell it throughout the year.
  • Check whether your product is helpful for the customers in terms of resolving any specific problem.
  • Must get assurance from the marketplaces if there are any restrictions on selling a selected product.

    These are a few product-based criteria that you must follow before selecting a product to sell on eCommerce marketplaces. You need to understand the fact that even an excellent product idea is worthless if there is no demand for that in the market. Obviously, you do not want to spend your money on products that don’t have the potential to attract customers and make your business valuable.

Conclusion

Thus, product research provides you with the immense opportunity to identify an appropriate product to sell and avoid making expensive mistakes. This technique can ensure that whatever product you select has a demand in the market and customers are looking forward to buying them. Once you get done with your product research, you need to fulfill the demands of your customers in a much more effective and quick manner. In this regard, you may require to get along with an order management software for eCommerce that can automate your backend operations such as payments, accounts, inventories, shipping, and returns. eVanik OWS can help with it most effectively.

What is Profit Margin & Its Importance For Online Business!

A Complete Guide to Profit Margin & Its Importance For Online Business!

Running an eCommerce business is challenging because of the immense competition in this field. It is hard to survive if you are not following the guidelines and are unaware of this business’s various dimensions. The latest research suggests that only 25% of eCommerce businesses survive, so managing every aspect of online business is crucial. To know the growth graph of your online business, it is essential to calculate your profit margin ratio.

To know the actual position of your business, it is imperative to know how much profit you are making from it. Running a business blindly can become the most prominent reason for business failure.

If you are new to this eCommerce business, you may find it much more challenging to manage your finances and calculate your profit margin. However, accounting software for eCommerce can help you manage your accounts efficiently, and once you can manage your finances properly, it will become much easier for you to know your profit margin. In this blog, we will mention what profit margin is and why it is vital for your eCommerce business.

What is Profit Margin?

A profit margin is a figure that is retained after deducting various expenses. In simple terms, we can say that, after selling your products successfully, what revenue you generate by selling one individual product category is known as the profit margin. A higher profit margin ratio indicates your eCommerce business’s good financial health. There are three significant types of profit margins that we are going to mention in the following points.

Gross Profit Margin

Gross profit margin usually refers to profit on a specific product or service rather than the entire online business. Analyzing the gross profit margin can help you determine the pricing strategy because a low gross profit margin means you need to bring changes to a specific product to make it worthwhile.

To calculate your gross margin profit, you need to subtract the price of products sold from net sales, divide the outcome figure by the net sales and get the ratio; you will get the gross margin profit in the form of a percentage. The formula is; [Total revenue-COGS]/Total revenue(x100). It can help you to bring changes in the pricing of your products.

Operating Profit Margin

The operating profit margin indicates how much the profit ratio you attain after spending money on some of the indirect expenses to run your business. It is generally calculated by dividing the operating profit by the total amount of revenue. Comparing the operating profit margin with the gross profit margin considers a range of other operating expenses such as warehouse rent, shipping charges, eCommerce platform fees, etc.

Most sellers don’t calculate the operating profit margin with the other expenses. Still, the collective calculation of such expenses can provide you with a clear insight into your business’s profit, and you might get to know how these expenses affect the profit of your online business.

Net Profit Margin

Net profit margin basically showcases the exact profit of the business after subtracting all the other expenses, including the cost of products sold, operating costs, and other expenses and taxes. Net profit margin gives you an idea about the overall success of your eCommerce business. If you acquire a higher margin rate, it indicates that your business is doing well.

If it’s not, it can be a matter of concern for you, and you must work on it religiously. On the other hand, you can also use the net profit margin to compare your business performance with your competitors as well. The net profit margin is the exact revenue of your business, and you must have clarity on it. In calculating your net profit margin, it is essential to manage your finances first; for that, you can use accounting software for eCommerce.

How to Increase Your Profit Margin?

Cut Down Your Operating Expenses

To increase your profit margin, it is best to minimize the costs of your operational expenses. However, knowing what you need to cut down on your operating expenses is quite challenging. It can be tricky because there are various essential expenses you can not reduce, such as several fees, charges, and taxes.

To successfully reduce operating expenses, you need to analyze your business operating expenses closely; only then can you decide what you can cut down and what not. Instead of taking first-hand services, you can optimize and outsource them successfully.

Hike up Your Product Price

Generally, eCommerce sellers have this fear that if they raise their product prices, they might lose their essential customers, or their customers may abandon them. However, if you provide a pleasant shopping experience to your customers and they are already happy with your product, you can increase your product prices.

We are not saying that it will be easy for you; you need to use some psychological marketing tactics. For example, if you are selling a single product for Rs.150, it will be great to sell a combo product at Rs. 200. It can be a great idea to increase your product by selling one item at an average price and one at an increment price. Such a tactic can help you attract more customers as they might think they are getting a good deal. This practice can help in increasing your profit margin immensely.

Increase The Customers’ Trust

Whether you believe it or not, you need to understand the fact that the trust of the customer is everything you require to run your eCommerce business and increase your profit margin rate.

As an eCommerce seller, gaining the customer’s trust is essential. Now the question is, how will you do that? Well, in this regard, an enormous number of reviews on your product page can help you with it. Positive feedback or reviews have the impeccable power that develops trust in your potential customers and makes them invest in your products.

Increase Your Average Order Value

It is vital to increase your profit margin to increase your average order value(AOV). If you are unaware of the average order value, you need to know that AOV is the average amount a customer contributes per transaction in your online store. To calculate your average order value, you need to use a simple formula; Divide the total revenue by a total number of orders, and the outcome you will get is your average order value.

As an online seller, you can receive higher profit margins by increasing your AOV, and to increase your AOV, and you may require forcing your customers to spend less money. You can offer them free shipping on any exact order amount. You can implement upsell and cross-sale and offer them a complementary product along with any specific product they want to buy.

Conclusion

Hence, these are some of the ideal ways that help you to increase your profit margin. In the points mentioned above, you might have understood why it is essential to know about the ratio of your profit margin graph. Now, undoubtedly, we can say that enhancing profit margins is a profitable strategy for your eCommerce business.

A higher profit margin can make your business stand out from the competition and make it sustainable for longer. It doesn’t matter how new or old your eCommerce business is, you must know about your profit margin and manage your finances accurately. In this regard, you can use eVanik OWS’s help for compelling management of your accounts. 

 

Last Mile Delivery & Its Importance For eCommerce Business!

Last Mile Delivery & Its Importance For eCommerce Business!

In this fast-paced digital world, everyone wants to get their work done in a speedy manner. The emergence of the eCommerce industry has increased the expectation of fast order delivery to customers. Today they can think about same-day delivery if they want to get any product on an urgent basis or want to gift any specific item to their loved ones. Some prominent eCommerce channels, such as Amazon, Flipkart, Snapdeal, etc., offer their customers same-day delivery services.

A decade ago, consumers didn’t have this liberty, but today due to the paradigm shift in the eCommerce industry, customers can expect their order at their doorstep right after a few hours of order placement. Because of the speedy shipping and last-mile delivery feature, the customer experience has become far better than ever before. It would be best if you also took advantage of this quintessential feature as an eCommerce seller.

Last mile delivery is specifically designed to deal with the hurdles of the last delivery phase when a product reaches the customers’ doorstep from the warehouses. This approach has pushed eCommerce sellers to cope with changing customer demand for speedy delivery. This blog will teach you about the aspects of last-mile delivery and why you need to implement it in your business.

What is Last Mile Delivery?

Whenever a customer places an order via any eCommerce marketplace, the product reaches their doorstep from the manufacturers in three different phases of delivery.

  • First Mile Delivery: First-mile delivery is about receiving a product from a manufacturer through a courier partner and storing it in a warehouse or at any distribution center.

  • Second Mile Delivery: Second-mile delivery is also known as the middle mile delivery of products from a distribution center or a warehouse to the fulfillment center where customers can get their products delivered.

  • Last Mile Delivery: The last mile delivery refers to getting the products from the final destination from a courier partner, which can be the sellers’ home, fulfillment center, or any nearest center, and then delivering them to the customers’ doorstep. The last mile delivery system assures the product reaches the customers’ place within the promised time.

    Now, if you are still wondering why last mile delivery is so essential for your eCommerce business, here we mention numerous points that can help you understand it better.

Requirement for Last-Mile Delivery For eCommerce Business

Fulfilling the Urgent Requirement of Customers

In the fiercely competitive world of eCommerce, speed is a significant concern today. Customers want their products delivered within a few hours of order placement. To fulfill the customers’ urgent requirements, as an online seller, you need to speed up the delivery part. We can say that delivery speed is a huge concern for online sellers. According to a survey, more than 42% of consumers are willing to pay extra money for same-day delivery. Last-mile delivery can help you attain an intensified delivery speed.

However, getting along with a reliable logistic service provider will be best to implement a last-mile delivery factor. Before that, you may require an online order management software that can automate the backend operations and thus enforce speedy delivery. In this regard, you can get along with eVanik OWS; it can handle all your backend operations such as payment, inventory, shipping, and returns.

Building a Loyal Customer Base

The enormous success of your online business depends on how many loyal customers you have and whether you can fulfill their demands on time or not. However, building a robust and loyal customer base in the eCommerce industry is complex. For this, you need to understand the requirement and shopping behavior of your customers. The requirements and demands may vary from customer to customer, but one thing can be constant: on-time delivery.

If you cannot deliver their order on promised time, you may quickly lose them. If you want to win the hearts of your customers, you may have to implement last mile delivery solution for your online business. If you can fulfill their demands on time, they may also repurchase a product from you in the future and can become your loyal customer too.

Customers Prefer to Track Orders

Unlike a physical store, customers can not simply visit your store and buy products; they need to place orders and make payments without analyzing them. So what they expect is at least having a track of their orders. Order tracking relaxes them and assures them that their order is on the way and will be delivered to them promptly.

Providing tracking features to your customers can also help increase your revenue because they get back to you repeatedly. Based on research, more than 80% of customers prefer to shop from those who provide them with a last-mile delivery tracking feature. So you need to indulge with a courier or logistic partner that can provide your customers with a last-mile delivery tracking solution.

Challenges of Last-Mile Delivery

Provide Faster Delivery

For faster and more efficient delivery, the last-mile delivery solution requires an intelligent strategy to follow. As a seller, you must have wondered if the order may get delayed for any specific reason. Well, your question is correct, it can happen, but the best you can do is to attain a fulfillment center near your targeted customer locations.

For instance, if your targeted customers reside in Delhi, you should store your products in any fulfillment center in the city. It can help you with the fastest last-mile delivery option. Apart from that, you can even distribute the orders into small individual deliveries.

Visibility can Become an Issue

As an eCommerce seller, you might feel that providing complete visibility throughout the delivery process can become problematic. However, some prominent eCommerce platforms can help you with this as they provide last-mile delivery tracking features to their customers. But the problem is customers want to track the entire delivery process, and it can not be done without the help of enormous tracking software.

Several software solutions available in the market provide comprehensive tracking solutions to your customers. It can provide them with the estimated time and location of their order. Several food apps such as Zomato and Swiggy are using this tracking solution.

Cost Management can Become a Major Concern

If you plan to divide the orders into small and individual parts, it can become quite costly for you as you will require delivery partners for each order. On the other hand, same-day delivery or order delivery within one or two hours of order placement can also put you in a stressful situation and may affect your budget also.

However, suppose you are an Amazon seller. In that case, you should take advantage of Amazon’s FBA (Fulfillment by Amazon) service. They can handle the entire shipment and delivery for you and provide speedy last-mile delivery to your customers. However, you need to pay a small FBA charge to them, but it can be cost-effective for you.

So this is all about the last-mile delivery; it is not rocket science; it is simply a delivery process that can effectively help you deliver the orders quickly to your customers. Various other aspects, such as robust inventory management software, can help speed up this process. Such software can clarify every available or unavailable product in your stock and save you from overstocking products. Hence if you have clarity over inventories, you can effectively speed up the order fulfillment process and implement a last-mile delivery service.

Conclusion

You must understand that a last-mile delivery service requires advanced and automated software to execute the process accurately and efficiently. However, this innovation comes with the cost of integration. Various software, whether an order management system, inventory management software or even a las-mile delivery software, can speed up the last-mile delivery process and deliver the product to the customers on a promised delivery date or time. For backend operations automation, you can subscribe to the eVanik OWS. Automating the various eCommerce aspects can eventually intensify the order fulfillment process.

Considerable eCommerce Metrics Sellers Need to Track This Year!

Considerable eCommerce Metrics Sellers Need to Track This Year!

There is a vast difference between running an eCommerce business and running a successful one. Today millions of sellers are selling their products on eCommerce marketplaces. But not all of them are acquiring success; the reason is that some are not analyzing their business’s overall performance or may not follow the latest metrics of the eCommerce industry.

Believe it or not but for the tremendous success of your online business, you must follow all the latest metrics of this industry. The eCommerce metrics may change from time to time per the market trend and customer demand. The metrics mentioned in this blog are essential in terms of serving your customers dynamically. If you are unaware of these, this blog is just for you. Here in this particular blog, we are going to mention some of the vital eCommerce metrics that can help you to know whether you need to implement them in your online business or not. The following metrics will help you understand how well your business performs. So what are we waiting for? Let’s get down and find out these considerable metrics of eCommerce.

Five Elementary eCommerce Metrics That You Need to Follow

eCommerce Transaction Rate

How many transactions have been done from your seller page can not precisely tell how well your business is doing. However, over time, it does demonstrate how popular your product is on various eCommerce platforms. That is why it is necessary to track every online business transaction. Now the real challenge is it is impossible to track every transaction manually, so what is the solution? Well, you need not worry about it because there is various accounting software of eCommerce available that can help you to tackle this problem tremendously. Some software, such as eVanik OWS, has the efficient feature of managing all your transactions by integrating with your accounting software such as Tally, Zoho books, Quick books, etc.

With the help of such software it can become easier for you to track each transaction and know what is actually happening with your business. This is one of the most considerable metrics of this industry that you must follow if you want to up-scale or grow your business.

Calculate Your Cost of Goods Sold (COGS)

The cost of goods sold is basically associated with your sales. The enormous eCommerce industry incorporates various factors such as the price you paid to the manufacturer or supplier for your products or the price related to formulating your products yourself. Accurately calculating the cost of goods sold (COGS) can be challenging for any eCommerce seller. These eCommerce metrics can also help analyze the inventory turnover margins and ratios as well. To calculate the COGS, you can start with the basic level, and the formula is; Initial inventory+Total acquisition-closure inventory.

To acquire the accurate cost of goods sold value, you need to keep track of your inventory or manage your inventory perfectly. Lack of inventory management can make you lose the chance to get along with this eCommerce metric. To manage your inventory, you can acquire inventory management software. Such software can automatically provide you with all the inventory reports on a real-time basis. Thus it can help in calculating the COGS.

Recognize Your Return Rate

Returns are a significant pain for any eCommerce seller; you must have experienced this issue maybe on a daily basis or occasionally. It can be more or less, but it is present there. The eCommerce industry has accepted that they have to live with this issue, but they can try their best to reduce the return rate. According to the research of the National retail federation and apprises retail, it has been found that returns have increased from 10.5% to 16.8% this year.

These statistics are a matter of concern. Handling the courier and customer return can be a clumsy task to perform, but with the help of return reconciliation software, it can be done perfectly and precisely. Such software can help you enormously in terms of managing your returns and ultimately increase your profitability. If you are not focusing on your return rates, you may not only lose your money but can also diminish your market image. Along with evaluating your return rate, you must focus on minimizing it by understanding the customers’ concerns regarding your product.

Measure Your Customer Retention Rate

In the eCommerce world, it can be easy to attract new customers because there are so many effective ways that you can execute to make them buy your product at once. But it is way too difficult to retain a current customer because they already know you, and if your product is not as per their requirement or if they have some other issue, they might never return to you. However, measuring the customer retention rate is imperative to know how well you can hold your existing customers.

To calculate your CRR (Customer retention rate), you can divide the total number of return customers by the total number of existing customers and multiply that by a hundred. If your CRR value is below 30%, it means you need to work on increasing it by improving your product quality, delivery time, price, etc. To increase the CRR rate, you can offer attractive discounts and offers to your customers.

Calculate Your Net Profit Margin

You must agree that you are not in the eCommerce business to sell your products but also to generate enormous revenue. You need to calculate your net profit margin if your business is doing as per your expectations. This measure can give you an overall idea of what you need to add or minimize to increase your profit margin. Calculating your net profit margin is a comparatively simple task to perform.

It will help if you use a calculator and manually minus the cost of goods sold from the gross revenue and then divide the figure by the actual sales. The formula for executing this process is; net profit margin= [(Gross revenue- COGS-other expenses and taxes) / net sales]. In such a way, you can know your net profit margin and run your business accordingly.

Conclusion

Thus, several eCommerce metrics can empower online sellers to analyze and measure the overall performance of their online business and let them make essential decisions. As an eCommerce seller, you can use such metrics to obtain a much more reasonable and precise way to evaluate the performance of each product you are selling on diverse eCommerce marketplaces. To attain your business goals efficiently, you must follow these eCommerce metrics.

Suppose you find that your business is not performing well on such metrics. In that case, you may require to subscribe to some robust software such as eVanik OWS to improve the parameter of several metrics such as COGS, return rate, transaction rate, etc. It can effectively minimize the issue related to inventory management, return reconciliation, accounting, shipping, and payment also. This centralized software can easily integrate your ERP system and manage your multi-channel business performance in a single dashboard.

Avoid These Seven eCommerce Mistakes & Let Your Business Thrive!

Avoid These Seven eCommerce Mistakes & Let Your Business Thrive!

We all are human, and humans tend to make mistakes. But when you are planning to get aboard in the eCommerce industry, you can’t afford to make continuous mistakes. A study says that approximately 75% of new online businesses fail because they fail to avoid these mistakes. Since the eCommerce industry is a cost-effective business, you may underestimate the risks and mistakes in the beginning. However, starting an eCommerce business, you have to focus more on survival than on the other aspects of this business.

Some of you may make mistakes unknowingly in the initial stage of your business, and it can affect the growth of your online business later. As a seller, you have to make sure that you are capable of providing top-notch services to your customers. Customers have thousands of options available, and somehow, if you miss a chance to fulfill their orders efficiently, they may simply switch to your competitors. To tackle this situation soundly, you must know the eCommerce mistakes that you need to avoid in terms of managing your business effectively and efficiently. In this blog, we have mentioned seven eCommerce mistakes you must avoid.

Seven eCommerce Mistakes That You Must Avoid

No Market Research Before Starting

If you are about to start any business, it is essential to do some research before your start. Specifically, it is necessary to research the latest market trends in the eCommerce industry. It is one of the sellers’ most common mistakes before starting their eCommerce business. Suppose customers are more likely to buy products from the latest trends and you’re launching a new but outdated product on marketplaces; who will buy them? Undoubtedly, no one, and if some may, but then also it can’t provide you the expected ROI. Market research does not only refer to research only about the latest trends, but you also need to rotate your eyes on the other aspects as well, such as what your competitors are selling and what customers prefer more to buy from an eCommerce platform.

Selecting a Wrong eCommerce Platform

You must choose the right platform to start your online business as an eCommerce seller. It is essential because it is the base of the eCommerce business. Suppose you fail to choose the right platform. In that case, you may lose the heavy opportunity to make your business successful in generating revenue and making an enormous customer base. As a startup, you must choose platforms with a solid customer base and credibility in the market, such as Amazon, Flipkart, Myntra, etc.

These prominent platforms have the potential to accelerate the growth of your online business and make it stand out from the competition. As a new seller, you must know the nature of whichever platform you choose to sell your products. Look closely at what categories they are offering and what charges they will deduct from your every order.

No or Less Promotion of Product

If you are new to the marketplaces and customers are not aware of your products, then it is crucial to run promotions related to your products. It is evident if customers won’t get to know about your product, how they will buy it. So in this scenario, you need to make several promotional strategies to make your customers aware of your product. It can be one of the sellers’ huge mistakes in not promoting their products at all. In lack of promotional activities, your business may fail, and you won’t be able to re-establish your online presence.

Why take such a risk when you still have the chance to make it a successful affair for you. Several platforms offer promotional features to their sellers, and you just need to invest a little amount and go with the flow. Promotions can effectively attract customers and let it survive at multiple eCommerce sites. Believe it or not but promotions are the crucial step in establishing an online business or launching a new product.

Lack of Inventory Management

As an eCommerce, you may start selling a small number of products, but as soon as your business starts expanding, you have to manage your inventories first. Inventory management is imperative for any eCommerce business, especially if you want to become a multichannel seller and sell your products on various platforms. Due to the poor inventory management, you can not only miss out on a solid customer base but may also lose on a heavy revenue generation factor.

So it is better to get along with any powerful inventory management software such as eVanik. Such software can provide you with real-time inventory reports. Getting along with software can also save you from overstocking. Apart from that, it effectively helps with reconciling the other inventory-related issues.

Complicated Checkout Process

In the eCommerce world, acquiring the buy box section is essential. To reach this section, you need to ensure that your customers can quickly checkout and buy your products. If the checkout process is complicated and not preferable for the customers, they might not buy your products or simply abandon the cart. To escape this situation, you need to check if the eCommerce platform is offering prominent payment modes or not. There should be the option of credit, debit, Upi, and cash on delivery feature on the platform. Apart from that, if there is any buy now pay later option, you must acquire that also because it can attract customers and make them buy your product even if they don’t need it.

Ignoring Customers’ Feedback

Various sellers on major eCommerce platforms don’t know the necessity of replying to customer feedback or making product changes according to customers’ preferences. This is the reason why they aren’t able to make enough sales. Thus it is one of the biggest eCommerce mistakes that most sellers make today. If you are in the process of selling your products on multichannel or have already started your journey, you should give importance to the feedback of customers.

Understand that you are in this business for customers, and your business may survive because of the customers. So there is no denying the fact that you must focus on what your customers are saying. Must reply to their reviews, in this way you make them feel special and they may become your loyal customers.

Clumsy Product Listing Quality

Apart from all other mistakes of the eCommerce business, meager product listing quality is the specific one, and it can ruin your entire hard work if not done correctly. Most sellers do not focus much while listing their products on any eCommerce channel. They don’t see whether the description is suitable, the title is accurate, and whether the product quality is good or not.

Be aware if you are also doing the same because it can negatively affect your entire business. Think from a customer perspective, will you buy such products that have a poor appearance? It might not make sure that you are adding good quality images, embellished descriptions, and attractive product titles along with the relevant title.

Conclusion

Making eCommerce mistakes is inescapable, and you may struggle to get back on track and make your robust online presence as a prominent seller. However, if you are in the learning process, you must consider the above points and try to resolve them as soon as possible. You can not afford to indulge in such mistakes if you envision expanding your online business and making it successful at any cost.

While associating with the eCommerce business, you need to put your customers first and provide them with a pleasant buying experience. Try to know the customer’s shopping behavior and fix all the hurdles coming in the way of order fulfillment. In this regard, you can subscribe to any automatic order management software such as eVanik OWS to eliminate several issues and speed up this process.

Tremendous Ways to Offer Discounts Without Affecting Your Pocket!

Tremendous Ways to Offer Discounts Without Affecting Your Pocket!

In the eCommerce industry, there is no doubt that discounts and offers always attract customers to visit online marketplaces and make their purchases. For sellers, it is always a great idea to offer attractive discounts on their products to generate maximum sales. Discounting has mostly been used as a tested weapon to encourage customers to break a deal. It’s not new but an effective strategy. But the problem is sometimes, these discounts and offers drastically affect the seller’s pockets.

The ultimate solution to this problem is to maintain a balance between offering discounts while saving your money. Frequent offers and discounts contain the risk of losing money. So it is essential to get along with such tactics that can not only help you attract more customers but also not affect your pocket. This blog is about resolving the dilemma behind eCommerce discount strategies. Most eCommerce sellers offer discounts to boost their sales without knowing that it is affecting their pockets, and they must look into this matter. However, if you also want to know how to offer customers discounts without losing money effectively, this is a must-read blog.


Five Effective Ways to Offer Discount Without Affecting Your Pocket

Before going any further, let’s quickly know why you should offer discounts to your customers. Well, most customers implement this tactic to generate more sales and acquire a solid customer base. Discounts attract their attention and encourage new customers to know more about you and your products. It can help you in attaining your first purchase as well. Discounts can also let your online business survive in this fiercely competitive industry.

Offer Discounts on BOGO Products

To save money and escape the risk of failure, you should offer discounts on combo products. You must have seen that most eCommerce sellers offer discounts on buy 1 get 1 product. This tactic can help your products to entice more customers and scale up your overall business as well. You can even offer special discounts on bulk purchasing as well. The goal should be to motivate your customers to come online and buy your products in the first place. This effective discounts strategy can help your products to sell in an effective way without affecting your budget. You can offer one high price item with one low-price item to attract more potential customers. However, before offering such discounts on several products, you need to double-check whether all the products are available or not. Here you may require inventory management software such as eVanik OWS to manage your inventory automatically.

Apply Bundle Pricing Strategies

Bundle pricing is also one of the remarkable ways to offer discounts without hurting your pocket. It is a strategy by which you can offer various specific products in one bundle and sell them at a specific price instead of implementing individual discounts on each item. Offering discounts on bundle products can also help increase your AOV (Average Order Value) by minimizing the per-unit price of one or more products within the bundle. As you know, the festive season is on the way, and marketplaces are already running various sales to attract customers. In this scenario, it can be an excellent way to implement bundle pricing strategies significantly during the festive season. For instance, if you are selling online beauty products, you can offer a bundle of skincare products, including moisturizers, facewash, and serum altogether. In such a way, you can upscale your sales without losing a penny.

Offer Discounts at the Checkout Process

To ensure each purchase is complete, this strategy can work tremendously. In this process, you need to offer some discount on shipping or on the product itself at the final checkout process. In this discount strategy, you can offer your seller a significant discount on their credit card, debit card, and even on UPI payments. Ideally, sellers offer discounts on the payment modes, not specifically on the products. This tactic can help you to attract your existing customers as well as your potential customers also. Another approach you can apply is to offer discounts on the minimum order amount. For example, you can offer your customer a Flat 20% discount on purchasing products on a specific price. Undoubtedly, this discount strategy can help you achieve multiple business goals by adding an enormous number of potential customers and encouraging them to repurchase.

Offer Flash Sale For a Limited Time

Such a type of discount inspires customers toward impulse buying. Limited period offers have the potential to create a hustle in the customers’ minds to make most of such offers within the time. You launch a new product during the flash sale and offer attractive discounts on them for a limited period. It can be 2 hours, 24 hours, and a maximum of 2 days. During the flash sale, you can consistently offer discounts on products with lower sales and no sales. It can also prove to be a compelling way of clearing out your stocks. If you have ever experienced a stock situation, you need to worry about it because such practice can let you sell unwanted items by generating potential revenue. On the other hand, to manage your inventories effectively, you get along with any available inventory management software. It can send inventory reports from various marketplaces and regulate your inventory effectively.

Offer Discounts to New Customers

Offering discounts to new customers can help you attain new and potential customers. You must have seen several offers for first-time customers on various marketplaces. Most sellers implement such tactics to intensify their customer base. In this process, you can offer the actual price of the product by representing it as a discounted price. On the other hand, you can offer them a welcome gift by making their first purchase. This procedure can save you a lot of money and add more value to your business. Understand the fact that customers always want to get some special offer before trying a new product. It provides them the satisfaction that they are getting a product at the lowest price, so it doesn’t matter whether the product is good or not. If they experience that they have bought a good product at a discounted price, they can become your loyal customer.

Hence, these excellent ways of offering discounts can do wonders for your eCommerce business without hurting your pocket. Such discount offers can let your business thrive and add an enormous number of customers to your business.

Conclusion

Undoubtedly, in such specific ways, you can not only drive maximum sales but also attain more and more customers for your online business. Although, whatever the ways you select to offer discounts to your customers, do analyze what works better for your business. It is not required that what works for your competitors can also work for you as well. By initiating various discounts, offers, and promotions, you can experience which tactic is doing well for your business. There is one more factor that you need to take care of; whatever the discounts tactic you are implementing, you need to execute the order fulfillment process as quickly as possible. In this regard, an eCommerce order management software can help you efficiently. Several software such as eVanik OWS, can automate the entire order fulfillment process and help you make your customer happier than ever.

Automated Return Reconciliation Need for Online Sellers?

Why is Automated Return Reconciliation a Major Requirement for Online Sellers?

In the eCommerce industry, along with the various benefits, sellers mostly have to face the issues related to returns as well. It is one of the major pain areas for online sellers as it is threatening their overall conversion rate. In the current scenario, almost every seller on multiple marketplaces faces the return issue of their products. At this point, as an online seller, you can feel the need for an automated return reconciliation system.

In this manner, implementing automated reconciliation software can help you efficiently. If we talk about the stats, the returns rate has increased up to 35% in the past few years. In the year 2021, customers have returned products worth 445 billion dollars worldwide. It is bizarre, and you as a seller must be able to handle these issues.

To minimize the return rate, you can take advantage of eCommerce reconciliation software such as eVanik OWS. Their return module is highly efficient to centrally managing Courier Returns and Customer Returns effectively, ensuring smooth and quick turnaround time.

In this blog, we have covered why an automated return reconciliation is required for online sellers. Along with this, you will also get to know other aspects of this essential eCommerce component.

An Elaboration of Returns Reconciliation

Return reconciliation is a significant eCommerce process through which a seller confirms that they have received the returned orders from customers either through courier returns or customer returns. Now the thing is, if you are an average seller and want to avoid miscalculations in this process, you should adopt an automated return reconciliation software. If your monthly eCommerce order quantity is more than a thousand, then miscalculations are more likely to increase.

As an eCommerce seller, you must be able to track down the exact number of all the returned products you have received from eCommerce platforms and those on their way to the warehouse. You can not do this manually as the number is high. By any chance, if you are doing this, it involves sure chances of miscalculations. On the other hand, automated return reconciliation software can help you provide you with all the essential information regarding this. You can easily trace all the returned orders and certify if deductions applied by marketplaces are reasonable or not.

Types of eCommerce Returns

In the eCommerce business, there are three significant types of returns that you must know about being a seller.

Courier Return: When the orders get returned by your courier partner due to the customer’s unavailability is called courier return. It can happen if the customer is not available to receive the order, if the courier partner finds the door locked and if he cannot contact the customer. In this scenario, the order can get returned to the primary source.

Customer Return: When a product fails to satisfy the customers in terms of quality, color, size, style, and design, they simply initiate a return. Return rates are high in selling online clothes, and customers can usually return the product if it doesn’t conquer the level of their expectations.

Canceled Order Return: It mostly happens when a customer cancels a placed order. If they cancel it immediately after placing the order, it can be a relief for you, but if they cancel the order after shipping, it can be a huge pain for you.

What are the Benefits of an Automated Return Reconciliation Software?

Enhance the Customer Relationship

Automated reconciliation provides a deep insight into the entire order fulfillment process. You can get to know the main reason behind the return if it is related to the product’s quality or the marketplace’s service. It can help you rectify all these issues effectively and provide you with an immense chance to resolve the issues related to every return. Once you can rectify the issue and compensate your customers, it can help you develop a good relationship with your customers.

Clarity on Reverse Logistics

Reverse logistics are conducted after a product’s sale to recapture the value and end the product’s entire life cycle. Typically, it involves returning a product to the manufacturer or distributors. Return reconciliation keeps an entire record of the order lifecycle from dispatch to return. Now, if you do this process manually, there is the possibility that you won’t be able to rectify whether the return is because of the manufacturer’s fault or your fault. However, automated software provides you the advantage of saving you from paying the extra money on those products that are unsuitable for resale.

Helps to Relocate your Products

Have you ever thought about what you will do if you don’t receive a returned order? Well, you will get no profit, and it can impact your conversion rate drastically. There is the possibility of an accidental or prudent case of product damage and theft. Without an automated return reconciliation system, you won’t be able to locate your items. Receiving your product’s entire lifecycle can make it easier to relocate a returned product.

Hence, you can get along with return reconciliation software such as eVanik OWS to automate this process. It can help you analyze all types of returns by automating the entire return process. It can also minimize the time taken to process online returns and provide your returns reports as well.

Conclusion

If you are not new to this industry, you may face several challenges in the process of return and must be aware that it is not at all good for your eCommerce business. If you want to upgrade your conversion rate, you must get automated return reconciliation software such as eVanik OWS to minimize returns-related issues. Apart from that, you must implement several ways to help you diminish the return rate.

It will be best if you focus more on product quality and presentation. As a seller, it should be your responsibility never to disappoint your customers at any cost. If your manufacturers are making mistakes, you must be aware and stop buying products from them. Always try to buy products from a reliable manufacturer only.

Time is the money, so as much as time you will save in delivering a product without any mistakes as much as revenue you can generate. If returns are your daily issue, then it is undoubtedly a matter of worry because, in such a way, you won’t be able to expand your business. So it will be best if you get along with automated software and try to delight your customers by meeting their requirements and expectations on time.