E-commerce has brought new revolutions to multi-functioning businesses. From the instance, selling products on the web has become feasible enough; the e-commerce platform has become a run de Vu of the battlefield. Thousands of business has surfaced on the e-commerce platform with original contents and concepts of their business venture to find real-time success. When it comes to payment methods whether it is an e-commerce store or a startup business, cash on delivery is very popular and is considered the most feasible method from the customer’s point of view but with it comes Cash on delivery issues. Customers often prefer this method as it seems to be fair and safer but sometimes they use it in a negative way that affects the business.
- Services for online store development available for COD and returns
- Web development platforms for e-commerce
- Magneto development
- Prestashop Development
- WordPress development
- Open Cart development
- Shopify development
- The exploitation of cash on delivery: How it affects the business?
- Measures of reducing COD failure and Returns
- Maximize the purchase limit
- Incentives and offers on online payments
- Make COD available only on selected categories and items
- Minimize the purchase limit while availing cash on delivery
Not only you but also every other business seeking clients, desire to grow their businesses worldwide through the web. To improvise your client base and go ahead with your deals, the best option you can choose is an e-Commerce site. This can help you to set up your online game with certain outcome-driven e-Commerce web architecture associations. Whatever may be the process, it is very important that your strategies in a way that both satisfies your business ventures and your customer’s preferences. You must acknowledge your customer needs and desires.
in this blog, we will walk your way through some effective ways on how to reduce COD returns. Read on…
Services for online store development available for COD and returns
Giving the clients a tribulation comparable to that of a real physical store and giving the director the simplest of the administration offices, is the rudimentary proverb of any online store advancement. This can take care of both the essential requirements by providing the accompanying criteria for your online store development associations. This should be done with the utmost guarantee.
- Engaging interface along with easy navigation.
- Streamline search categories and filters.
- Numerous product images are commenced accordingly for real-life feelings.
- Payment gateways with full security.
- Easier and quicker checkout process.
- Order tracking modes on point.
- Tracking and managing orders are easier than ever.
- Offers and discounts well managed.
- Product attributes well managed.
- Flawless inventory management.
- Simple incorporation of Tax and Shipping.
- E-Commerce analytics are monitored.
Web development platforms for e-commerce
Regarding the development processes of e-Commerce site improvement, Magneto is one of the most used enhancement stages today. It permits intense personalization of both front-end and back end, due to its most suitable structure in particular. It is well known for building an online trading hub where numerous seller accumulation is set up and in addition to that, it gives an unrivaled level of security due to its PA-DSS stability.
You need to manage a lot of expertise perspectives or complex levels of coding while using Prestashop. It is one of the most simplified development systems for use and it happens to be free. In addition to that, with its polyglot help, it enables you to offer your products or administrations in the global or international market. Expert e-Commerce site designers can produce one of the best e-commerce sites for your business, as they are very familiar with this stage.
Although WordPress sites end up being to be potential; they are the quickest and simplest to grow. By utilizing some excellent e-Commerce modules, which are approachable for WordPress, some great answers can be provided to independent companies.
Open Cart development
Simplified customization is one of the key advantages of Open Cart. Sites produced using Open Cart are greatly light-weighted, due to the utilization of AJAX. It supports more than 14000 extra expansions, which can be downloaded along with the smallest amount of effort with premium modules. If you can convey marvelous Open Cart based online stores for any industry, you are good to go. You can do this with ease if you have a great deal of involvement as an e-Commerce web enhancement association in India.
Shopify helps you in spreading worldwide with your business by providing online stores for the same with rapid succession. It is considered a standout amongst most available stages in e-Commerce site enhancement. Shopify helps you to form an e-Commerce store simply and understandably so that you can be led down your items on the web without any hazards. The affiliation is easy to utilize and is adjustable to your necessities. Lastly, all in one it comes with inbuilt security.
The exploitation of cash on delivery: How it affects the business?
Cash on delivery is the most common way of enticing customers to buy a particular product. Customers prefer this method because of the security it provides. However, at the same with greatness comes certain failures and misuses. Certain customers exploit the method by ordering high-priced products and simply reject them at the final time of delivery. This is a huge loss for the system. As the item is high-priced so is its packaging price. Everything goes to waste starting from packing prices to transportations. This also stomps their morale for doing business. The high shipping prices that follow afterward takes away all the profit that the seller could have made on the particular product.
According to a report that was posted in Times of India, customers of Flipkart would order certain expensive products or items “just for fun” and ultimately refuse them at the time of delivery. In the beginning, it seemed hilarious from the customers but from the seller’s perspective, it is quite disheartening. For every return that is made and the afterward reattempt of it, the charges for the shipping process gets doubled that trims away the profit. Ultimately, this makes the cash on delivery method an insecure option for payment for the particular seller.
Measures of reducing COD failure and Returns
The main reason for incorporating the COD method in the business is that it helps in increasing the customer base at a rapid rate. Many people have no access to online payment methods, so the only method that they can rely on is cash on delivery. There are many negative aspects of the method but the advantages and profits it poses are impossible to ignore. Therefore, there are certain ways, which you can implement in your business to reduce cash on delivery and return failure. Some of the ways are discussed below:
Maximize the purchase limit
In June 2013, Flipkart took a huge step to recognize the genuine customers from the herds of those who mocked the method and used it for their “fun purposes”. They created a purchase limit that effectively segregated the legit customers who valued the Cash on delivery method form the ones that just mocked the process for their little fun. Flipkart significantly announced that they are not going to fulfill COD orders that amount to more than 10,000 rupees in particular areas in Uttar Pradesh. It was a revolutionary step that Flipkart took and this helped them largely to reconcile their profit turnovers. This also spread awareness for not using cash on deliveries so lightly.
Incentives and offers on online payments
This is a great way to get that confirmation about the credibility of your customers. By offering certain discount rates and offers that are only available for the online payment method, you can lure the other customers that are adhering to the cash on delivery method. In this way, you reap the added benefits and reduce the chance of failures of cash on delivery. As your customers get the taste of the benefits of the online payment, they can probably switch their payment methods.
Make COD available only on selected categories and items
Using the COD payment method for every category and item does not make any sense. Categories like beauty products, books, health care, etc. can be feasible enough to be paid through the COD method. However, products like, electronic gadgets, mobile devices, televisions, refrigerators, etc. are high-priced and thus do not need the facility of the cash on delivery model. People, in general, are not very comfortable in handing out huge amounts. They feel quite insecure about it and thus tend to refuse the delivery of the particular items.
Minimize the purchase limit while availing cash on delivery
As there is an upper limit for people availing for cash on the delivery payment option, it is required to put a certain lower limit to it. By doing this, you can find out the genuine shoppers who will still shop even after the minimum category applied.
Charge some extra amounts for COD payments
In the beginning, you should levy a certain amount for availing cash on delivery method. This will eventually shift the people opting for cash on the delivery method to other online payment methods to cut out the extra baggage of cash on delivery payment option.
Choose a suitable logistics
You must choose the best logistics for delivering your products and services. It is one of the essential aspects of the success of your business. The delivery person assigned to make the delivery of the particular product must have the available denomination so that the product is not refused or rejected due to the unavailability of certain changes. You can use proper courier services for the delivery of the items.
Take reviews and feedback
It is very important that you follow-up with your customer after the delivery. You should always take feedback and reviews to improve your system for the betterment of the business and the suitability of the end customers. You are never aware of the exact reasons for the return. Listening to your customer’s acquisitions properly can help improve the missing thread that leads to this return.
To enhance your online stores and business, you must be at the same pace as your competitors or even at a higher pace. Cash on delivery has the most plausibility to enhance your marketing strategies. The prime aspect of it helps you in increasing your sales in rapid succession. You should never hesitate to adopt newer trends of the businesses that can help you grow within the industry. However, you must analyze the aspects carefully and provide what is best for your customers because at the end of the day customers are the most important aspect of your business. Customers give the actual identity to your business.
The relevance that cash on delivery holds is very significant and it can no way be ignored. It holds profound advantages and helps your business to expand your customer engagement effectively. However, there are times that it poses certain losses to your business. Nevertheless, as every successful system comes with a little bitter taste to it, the cash on a delivery system that poses immense profit to it also has certain negative aspects to it that influences the business in a hazardous way. However, with certain prudent measures, you can use the method to your benefit by canceling out the probability of unnecessary high shipping costs. This will help you to scale up your organization in the way you intended it to be. However, one thing that you should always keep in mind is the desires and preferences of the valued customers. There is nothing more important than your customers because they are the ones that give the real meaning to your business entity. Without them, your business holds absolutely no value at all. Therefore, whatever measures you adopt, you should always analyze the customer benefits along with it. If the measures seem favorable for both the company and the customers, then only proceed with it and not otherwise.