Tips for eCommerce Sellers
What is Post Purchase Dissonance? Definition, Examples, Factors and 7 Methods to Reduce Cognitive Dissonance in Post Purchase Behaviour in 2023
Gaining repeat customers and enticing existing customers to spend more money at your company after they have already made a purchase is a recipe for success for most businesses. This sentiment is backed up by droves of data - retaining 25% of customers can lead to a 95% increase in profitability, repeat customers are estimated to spend up to 67% more than new ones, 82% of companies suggest that focusing on retaining customers is less expensive than acquiring new ones and many businesses imply that 65 to 75% of their existing business comes from repeat customers. With these numbers in mind, it should be your utmost priority to ensure that customers have a good first impression of their experience with your brand and a pleasant Post-Purchase Experience in eCommerce. But, failing to do this can result in post-purchase dissonance and can ruin their chances of ever returning. In this blog, we will take a look at the meaning of post purchase dissonance in addition to examples, factors leading to it, and 7 ways to reduce its occurrence. What is the Meaning of Post Purchase Dissonance? Post purchase dissonance, also known as buyer's remorse, is a psychological phenomenon that occurs when a person experiences feelings of doubt or regret after making a purchase. It is primarily caused by cognitive dissonance that arises when a buyer has made a purchase decision but then experiences a sense of conflict or unease about that decision, which may cause feelings of regret and anger. Post purchase dissonance is a common occurrence that affects many people and it can be especially pronounced in situations where the purchase involves a significant amount of money or emotional investment. For instance, a person who buys a new car may experience post-purchase dissonance if they later find out that they could have purchased the same car for a lower price or that the car does not perform as well as they expected. [contactus_lilgoodness] Instances of Cognitive Dissonance in Post Purchase Behaviour Initiating the Return of a Product Returns are one of the most common forms of post-purchase dissonance. Not all returns are initiated due to cognitive dissonance in post-purchase behavior. However, many instances of returns do stem from customers having regret about making a purchase and take a conscious decision to return it and get their money back. Retailers are expected to have flexible return policies that allow their customers to return items for a variety of reasons and can also put measures in place to shield themselves from the additional costs associated with it. It is important to make sure that customers have a smooth returns experience so that they will consider purchasing from your company in the future. Leaving Negative Online Feedback Oftentimes, post purchase dissonance can manifest in the form of customers leaving negative reviews and customer feedback for e-commerce on a company’s own website or other online forums. Many customers often check the reviews and consensus from other customers before they decide to make a purchase from a business. However, negative reviews are an unavoidable occurrence in the retail business, regardless of how perfect you strive to be. What is important is the way that you handle these negative reviews, an opinion also shared by the majority of customers. For instance, complaints should be responded to and addressed immediately for the satisfaction of both the person who wrote them and for potential customers observing how your business handles them. Unsubscribing From a Paid Service Subscription-based services have become the norm in many types of retail businesses. Customers may be encouraged to subscribe to such services by a well-made ad or a smooth-talking customer service executive, only to regret it after the recurring bills begin to stack up. This is when they try to remove any unessential expenses from their lives, which often include subscriptions to various services. This is where your business should make it easy and swift for customers to delete their subscriptions if they want to, rather than making them jump through various hoops in order to prevent money from being debited from their accounts. Giving up on their business in the short term could result in them having enough satisfaction to give your business a chance again. Factors Leading to Post Purchase Dissonance Having High Involvement in a Purchase Post-purchase dissonance is more likely to occur with high-involvement purchases, such as a house, car or an expensive electronic item. This is because these purchases involve a significant amount of time, effort and money, and consumers want to make sure they have made the right decision. Therefore, consumers generally do a lot of research when it comes to these types of purchases and can easily experience feelings of regret if everything isn’t as it seemed in the beginning. Getting Only Limited Information If a consumer feels that they do not have enough information about the product or service they purchased, they may experience post purchase dissonance. This can happen if the consumer relied on incomplete or inaccurate information or if they were not able to compare the product or service with other options. Customers should be informed about what to expect from products through specifications and measurements. Accurate and detailed product information should be provided to ensure that customers can make well-informed decisions. Having Unmet Expectations Post purchase dissonance can also occur if the consumer's expectations are not met after purchasing the product or service. This can happen if the commodity they purchased does not perform as expected or if the consumer discovers a flaw or defect that was not apparent at the time of purchase. This is especially pronounced for high-value purchases but can still be a factor, regardless of how much the item costs, due to most customers wanting the best value for their money. If the product is lacking in any capacity than what they anticipated, it can lead to feelings of instant regret. Instances of Social Pressure Social pressure can also lead to post purchase dissonance. For instance, if a consumer made a purchase to impress others or to fit in with a particular group, they may experience feelings of regret or embarrassment if they later realize that the purchase was not worth it after having spent their hard-earned money on it. While this isn’t a reflection of the business itself, which may not lead to the customer having negative impressions of their purchase experience, it does play a part in them regretting their purchase, which is also a form of cognitive dissonance in post purchase behaviour. Availability of Alternative Options If a consumer becomes aware of other, more value-for-money or cost-effective options after making a purchase, they may experience post purchase dissonance. This can happen if the consumer discovers a product or service that would have been a better fit for their needs or if they find out that they could have gotten a better deal elsewhere if they waited a little longer or did some more research. 7 Ways to Reduce Post-Purchase Dissonance in 2023 Have a Flexible Returns Policy Source The last thing a consumer wants to do after making a purchase with which they are not satisfied is to put undue amounts of additional effort into learning about your return policy. Returns are undoubtedly inevitable so secretly keeping your policy in small print simply breeds mistrust and creates more dissonance. Note that difficulty in viewing your return policy is the first step in an unsatisfactory returns experience that causes more than 80% of customers to abandon a store. So consider improving the accessibility and transparency of your return policy if you want to lessen post purchase dissonance. Links to your policy can be made available across your website, like the homepage, listing pages, automated chat and FAQ pages, and you can also include a summary of it in the email that customers receive upon placing an order. Give Customers the Ability to Track Their Orders Source Being able to track their packages is viewed by most customers as a right, not a privilege. Many a time, instead of looking forward with anticipation at the arrival of their package, customers experience feelings of regret because the order didn’t arrive at the expected date and time and they didn’t have the information they needed to keep them informed about it. When something similar to this occurs, your company would take all the blame for the results and the impending hard-pressed feelings that come with it. After one late delivery, 17% of customers will cease making purchases from an eCommerce company. If their product isn't delivered within 2 days of the scheduled delivery date, 69% of customers are less inclined to make another purchase from the store. Therefore, make it a point to provide order tracking details along with every purchase. Ensure That Every Detail is Provided to the Customer Source Customers of eCommerce firms generally fall into 2 main categories - those who make impulsive purchases and those who conduct extensive studies on the items they're interested in purchasing. Even though it is challenging to lessen post purchase dissonance for customers that make spur-of-the-moment purchases, the propensity of the latter set of clients to experience it can be reduced by providing the necessary information. Try leveraging content such as product guides and instructional films to provide comprehensive information about your items. You can get ideas by visiting some well-known establishments and seeing what kind of information they are providing. To acquire inspiration for the content and its presentation, look at their listing pages, social media profiles, blogs, and other digital domains. Identify the Root Cause of Their Regret Source Post purchase dissonance frequently results from issues that need to be fixed that afflict many people. Knowing this information will be beneficial for your eCommerce firm since it will help you develop client loyalty by identifying and resolving the sources of customers’ woes. Identifying the root causes that generated the dissonance is more simple than you would assume. To find out more about your consumers' expectations, employ feedback methods like customer surveys, go through existing customer reviews and actively encourage customers to lay out their grievances. Statistics about product returns might also paint a reliable picture. You can use this data to implement practical strategies for lowering post purchase dissonance and improving customer service. Provide Customers With a Noteworthy Unpackaging Experience Source Consumers constantly anticipate the delivery of their online orders and if you don't take advantage of meeting their expectations when it finally arrives, their excitement could rapidly turn to regret. Coupled with lightning-fast delivery, a fantastic unboxing experience can win over your customers and make sure they don’t experience post purchase dissonance. Providing customers with what they need is just one aspect of the unboxing process that can also help to avoid confusion. Custom packaging can be used to offer a memorable unboxing experience as opposed to using a standard brown box. You can also use tactics such as environmentally friendly shipping, packing, adding personalized touches such as a handwritten letter, a thank you note or a unique message and providing samples of other products or promotional coupons within the box. Provide an Easy Way to Offer Product Replacements Source You can place an emphasis on retaining your consumers even if they are experiencing post purchase dissonance. You simply need to give them the impression that if they are dissatisfied with one item, you can provide them with other options in your eCommerce catalogue that they might find appealing. By suggesting this, you can demonstrate you have the desire to work with clients to locate products that meet their demands and that it is a partnership worth preserving. You can convert returns into exchanges by offering tailored suggestions. In order to encourage repeat purchases, you can also offer them the option of receiving their refund within the company’s wallet. Implement Post-Sale Communication With Customers Source Engaging with customers even after they have purchased an item shows them that you value them more than just their money. By doing this, it is pretty simple to decrease post purchase dissonance. To reassure your consumers that you genuinely value their patronage, you can communicate with them on a personal level, such as sending them messages on WhatsApp, highlighting upcoming sales, promoting new products and more. You can also inform them of the information they can expect along with their order, including the order's receipt, shipping status and arrival date. Conclusion: Eliminate Post Purchase Dissonance With WareIQ’s Enticing Services Repeat customers are an essential component of the success of many businesses. Importance should be placed on ensuring they have a positive experience, whether purchasing goods or returning them. Companies should take care to address customer complaints as soon as they crop up and have flexible return or replacement policies in the event that something goes wrong with a product or its delivery. Post purchase dissonance, if not handled with care, can be detrimental to a company’s reputation among existing and prospective customers. With just a little bit of effort and common sense, you can reduce the impacts of post purchase dissonance and even get rid of it almost entirely. Partnering with a 3PL company that offers customer-focused services will ensure that they take your brand seriously, limiting the effects of cognitive dissonance in post purchase behaviour. One such company is WareIQ. WareIQ is one of India’s leading eCommerce fulfillment companies. From order to fulfillment and inventory storage to last-mile delivery and enabling customer feedback, we provide your business with all the tools to ensure your customers have a seamless and positive experience with your brand. Some of the ways we can discourage post purchase dissonance are listed below: Branded Order Tracking We provide customizable eCommerce order tracking pages that can be designed according to your preferences and will help your customers gain real-time insights about their orders in style. Customizable Packaging We provide personalizable packaging where every element can be customized so that you can ensure your customers have a worthy unboxing experience, lowering their chances of feeling regret. Online App Store We have an app store with multiple downloadable apps that include functionality such as being able to provide shipping badges on your product listings to increase trust and being able to easily generate customer reviews so any complaints or feedback can be taken into consideration. Ultra-Fast Delivery We provide same-day and next-day delivery to ensure that packages reach their destinations intact and on time. Returns Management We are a reverse logistics company that completely handles your entire process so that your customers can return items seamlessly and hassle-free. Post Purchase Dissonance: FAQs How common is post purchase dissonance?Post purchase dissonance is a common phenomenon that affects many people, especially in situations where the purchase involves a significant amount of money or emotional investment. What are the symptoms of post purchase dissonance?The symptoms of post purchase dissonance can include:- Feelings of regret or remorse- Anxiety or unease about the purchase- A sense of disappointment or frustration- Physical symptoms such as headaches or stomach aches- Psychological feelings such as anger and disappointment Does post purchase dissonance affect all types of purchases?Post purchase dissonance can affect any type of purchase but there is a greater likelihood that it will occur in situations where the purchase involves a significant amount of money or emotional investment. Can post purchase dissonance lead to returns or refunds?Post purchase dissonance can sometimes lead to returns or refunds if the buyer feels that the product did not meet their expectations or if they regret their purchase. Can post purchase dissonance have long-term effects?Post purchase dissonance is usually a temporary experience but it can have long-term effects on the buyer's perception of the product, brand or seller, which can impact future purchasing decisions.
February 25, 2023
3 Easy & Practical Steps to Sell on Meesho and Open a Meesho Seller Account in 2023
Meesho was founded in 2015 as an eCommerce selling platform and is currently headquartered in Bangalore. With a user base of over 2.6 million sellers across India, it is quickly emerging as one of the top online marketplaces in the country, taking on the likes of eBay and Snapdeal. The company’s focus is to provide an affordable alternative to some of the bigger names in the industry and offers a vast variety of categories and pricing options to consumers, as reflected by the more than 50 lakh product options on tap. In addition, Meesho also offers a relatively simple setup and vetting process compared to competitors, which makes it easier for small and medium-sized businesses to get onboarded and start selling their products to a large audience. In this blog, we take a deep dive into why you should sell on Meesho, how you can set up a Meesho seller account, the challenges faced by becoming a Meesho seller, and how WareIQ can assist with fulfilling Meesho orders. Why Should You Sell on Meesho? Least Commission Rates in the Industry While most large online marketplaces charge a commission rate of anywhere between 5% to 20%, Meesho uniquely charges much lower rates. While the company labels it as 0% commission, it is closer to a spectrum of 1.1% to 1.4% depending on the commodity type and category. However, this is still extremely low compared to industry standards and thus, enables retailers to achieve higher profit margins by pricing their goods accordingly. High commission fees can often detract from a retailer’s ability to be profitable so the low rates offered by Meesho can be a game-changer, especially for smaller businesses that run on much tighter margins to stay afloat. And, this is the main reason people prefer to sell on meesho. Lack of Collection Fees In a similar stance to the collection of a commission on every product sold, most eCommerce selling platforms also impose a collection fee and a set of fixed fees on every product that is sold. By the time all these fees are deducted, sellers are barely left with anything other than the scraps, after doing the hard work of researching and developing a product that ultimately generates the sale. Fortunately for retailers who sell on Meesho, there are no chargeable fixed or collection fees, which assists in them getting more money in their own pockets. 24/7 Operation Retailers who sell on Meesho can take advantage of the fact that it does not have to abide by the same restrictions and timings that a brick-and-mortar store does. This means that the window to generate interest amongst potential customers and ultimately make a sale, increases exponentially. No longer do sellers have to open their shops and patiently wait for customers to arrive. Rather, they can be doing something productive in terms of the business or even in their personal lives, knowing full well that orders can be generated, regardless of whether they are physically present at the office or not. eCommerce retail waits for no one as all the infrastructure that is needed to fulfill an order is already in place. Penalty-Free Returns One of the biggest eCommerce pain points for retailers who sell online is getting return-to-origin (RTO) requests from customers. Most other online marketplaces penalise sellers in some way or another, regardless of the reason for the return. Returns can often be initiated due to the fault of the retailer, such as when the wrong item is packed or the product is damaged in transit. However, the majority of returns happen from the customer’s end, such as them finding a better deal elsewhere, having buyer’s remorse or the product not meeting their expectations, so it is generally unfair for the buyer to incur the expenses in these circumstances. Retailers who sell on Meesho can breathe a sigh of relief as they are not penalised for returns, regardless of the reason and all the forward and reverse logistics are handled by Meesho itself. No Hidden Shipping Fees Unexpected shipping fees are one of the biggest contributing factors to customers abandoning their carts. Retailers often have to implement various strategies to combat the impact of shipping charges in order to maintain their profit margins. However, Meesho sellers can be reassured that they do not have to pay a single dime in shipping expenses while selling on the platform. Meesho uses the tactic of bundling the shipping cost into the price of the product. For example, if a seller prices a product at ₹300, Meesho will display the price on the listing page as ₹350, to account for delivery expenses. This means that retailers who sell on Meesho will never have to incur the price of shipping, which can alleviate a very big hurdle. [contactus_lilgoodness] 3 Easy Steps to Setup a Meesho Seller Account and Start Selling on Meesho in 2023 Set Up a Meesho Seller Account If you want to sell on Meesho, the initial step you need to take is to create a Meesho Seller Account. Go to Meesho.com and click on “Become a Supplier” on the upper right of the page. You will then be redirected to the registration page to fill out your mobile number. After you have done that, select “Start Selling”. You will then be taken to the Meesho Supplier Panel where you will have to type the OTP that was sent to your phone. You can then enter your preferred email and create a password. You can opt to receive notifications on Whatsapp if you need to. After that, click “Create Account”. The only things you need to sell on Meesho are: Active bank accountGSTIN (only if your sales exceed 40 lakhs)PAN card Begin Listing Your Products The next step to sell on meesho is to list the products you want to sell, go to the Meesho Seller Panel and click on “Catalogs Upload”. There are 2 methods to upload products listings on Meesho so you can choose the one that suits your requirements: Bulk Upload Listings Learn to Upload Bulk Catalogs and Become a Meesho Seller Select the “Add New Catalog in Bulk” option, mention your product category and choose the appropriate one from the list. After doing that, you will get an option to download a template or create your own. If you do not have your own, click “Download Template”. Once it is downloaded, you will get access to an excel-like spreadsheet. Enter the details in the form, using the instructions mentioned on the first sheet and enter the product descriptions on the second sheet. Once you have filled out all the information, go back to the previous page and select “Upload File”. Add Single Listings Select the “Add Single Catalog” option and repeat the same process of selecting your product category. After that, upload the relevant pictures to the website. Then, enter the product details and if there are multiple variations, click the “Copy Input Details to All Products” box and edit them individually from there. Finish providing the remaining details and click on “Submit Catalog”. Suggested Read: eCommerce Catalog Management Learn to upload a single catalog and sell it on Meesho Receive Orders and Deliver Them Once you have finished setting up your account and listing your products, you will start to receive orders from interested customers. You will get order notifications through your Meesho Supplier Panel and by email, whenever you get a new order. You can then choose to accept or reject it. The order can either be fulfilled by Meesho themselves or through your chosen 3PL fulfillment provider. You have now become a successful Meesho seller. Suggested Read: How to sell on Snapdeal? Challenges Faced by Retailers Who Sell on Meesho Enormous Delivery Expenses Because Meesho incurs all the burdens and costs associated with shipping and distribution themselves, it results in much higher delivery expenses than other platforms. Sellers are often good at finding ways to evade extensive shipping charges but implementing various strategies in terms of their pricing. However, Meesho doesn’t have this luxury and just has a standard practice of increasing the listing price by a percentage of what they would pay for the shipping charges. While sellers don’t directly face any of the heat that stems from rising shipping prices, they could be in for a rude awakening if Meesho decides that this policy isn’t feasible and starts to charge sellers for delivery. Varying Degrees of Quality Control Meesho doesn’t have very strict quality-checking procedures so oftentimes, customers will order a product, only to find that is damaged or that the materials used are substandard. While this may not be the fault of sellers who take it upon themselves to perform rigid quality checks on their own products, it does damage the reputation of the platform as a whole, including all the retailers that sell on, due to the fact that customers might associate the entire platform as not being reliable. This can result in lower sales and trust in companies that sell on Meesho. Slow Delivery and Inconsistent Customer Support Many customers often complain about Meesho products not being delivered on time. This reflects badly on sellers, many of whom rely on Meesho’s delivery service. Customers often associate a bad experience, not just with the selling platform but with the brand itself. If any issue does arise in the delivery process, customers are often greeted by lackluster customer service that doesn’t answer their queries or solve their issues. This can have severe consequences for brands that are trying to attain repeat customers. Suggested Read: You can also read how to sell on Etsy. Conclusion: Is it a Good Option to Sell on Meesho in 2023? Meesho is one of the few eCommerce marketplaces that prioritise the well-being of their sellers, over themselves and at times, even over their own customers. While this may seem like a decision that may not require much thought, retailers who sell on Meesho are also faced with their own unique challenges, just like any other selling platform, while also offering a variety of benefits such as being able to achieve the highest profit margins in the industry. Ultimately, the decision should come down to the short-term and long-term goals of the company, the nature of its products, the business strategy, and the type of audience they want to target. Retailers would be best suited to sell on Meesho while also selling on other marketplaces, in order to achieve the highest level of visibility and market share. If you are an aspiring eCommerce retailer or you already have an eCommerce business and are looking to expand, you can opt to partner with WareIQ. WareIQ is one of India’s fastest-growing eCommerce fulfillment providers that uses the most advanced technology in the industry to leverage the performance of our users and help them excel. We help users conveniently sell and manage their orders and inventory across more than 20 of the biggest eCommerce marketplaces, through our custom WMS. Users can track their inventory across multiple fulfillment centers and get real-time updates as and when any changes occur, manage all their past and present order data across every platform they sell on, forecast demand using historical data to determine the appropriate amount of inventory to store, make use of intelligent inventory placement solutions that are closest to their customers and much more. We also offer services that encompass the entire suite of fulfillment operations to achieve faster delivery speeds at more cost-effective pricing. Sell on Meesho: FAQs (Frequently Asked Questions) Can retailers sell on Meesho without GST?Retailers who do not exceed an annual sales revenue of 40 lakhs can sell without needing to pay GST. However, for most retailers, their sales volumes will exceed this amount and will have to pay GST. How does Meesho work for resellers?Resellers can share listings on Meesho with the people in their circle or on social media, which can earn them a profit per sale that they make. The products are supplied by the retailers who have opted in for this scheme. How much does Meesho charge?The commission rates on Meesho are as low as 0%. What products can I sell on Meesho?1. Women (Western and Ethnic Wear)2. Clothing for Men3. Clothing for Kidswear4. Makeup products5. Skincare products6. Jewellery7. Home Decor Products8. Kitchen Appliances9. Electronics Applicances. Does Meesho refund money if a product is returned?If a product is returned, Meesho offers a full refund to the seller that will be credited to their source account, in case it is an online transfer and credited to their registered bank account, in case it is a COD order. Is product selling on Meesho profitable?Meesho does not require suppliers to pay a commission; as a result, you can sell your goods on Meesho and make money without doing so. Does Meesho have its own warehouses?No, Meesho leases warehouses and logistics operations from other companies and consolidates it in a user-friendly manner for sellers. What services does WareIQ offer to Meesho sellers?WareIQ offers services such as a WMS that can integrate with multiple selling platforms, including Meesho and can synchronise inventory monitoring and provide real-time updates across all of them. We also provide order fulfillment for Meesho sellers that includes delivery to the end customer at the fastest and cheapest rates.
February 25, 2023
How to Become a Top Meesho Seller in 2023? Follow 8 Effective Strategies to Be a Top Seller on Meesho
The Indian eCommerce market is rapidly expanding and opportunistic sellers are taking advantage of listing their products on the various eCommerce selling platforms that are available. Based on the type of products they offer, the pricing bracket they fall in and the objectives of the business, retailers can choose to sell on the channels that fit their criteria, in order to be competitive, compared to their rivals. Sellers need to utilize various strategies to come out on top, tailored according to the type of market that they are operating in. They need to put in the effort to understand the nuances of their audience in order to provide the best possible experience to them. Meesho is an up-and-coming eCommerce platform that has gained attention from sellers for its unique advantages. We will take a deeper delve into the company, strategies to become a top Meesho seller, and the benefits and drawbacks of selling on Meesho. Read along. About Meesho Founded in 2015 and currently headquartered in Bangalore, Meesho is one of India’s leading online marketplaces that primarily caters to being a cost-effective substitute for some of the larger, more expensive eCommerce selling platforms such as Amazon and Flipkart. With more than 50 lakh products on offer being sold by upwards of 2.6 million users, spanning across the country, Meesho has found its own successful niche in the vast ocean which is eCommerce retail. What is meesho famous for? The company has garnered attention and popularity among sellers for its unique advantages that help provide a competitive edge such as a lack of shipping fees, extremely low commission rates, penalty-free returns and much more. Additionally, Meesho has a comparatively easy setup and verification process, which makes it a good option for people who are not well-versed with technology. With Meesho trying to cement itself as the go-to option for an affordable online shopping experience, retailers who sell on Meesho are bound to benefit from this increased growth and success, especially as more people discover the joys and simplicity of eCommerce retail. This raises an important question. How is selling on meesho profitable to the retailers? Register as a Meesho seller at zero cost and start selling StepDescription1Apply for a GSTIN and a bank account for registering as a supplier on Meesho.2Create a catalog of your products and upload it on the app/website.3Once the catalog is uploaded, you will start receiving orders via different social networking platforms.4Meesho delivers your products at zero extra cost to your customers.5Meesho receives the payment 15 days after the successful delivery of your product. [contactus_lilgoodness] 8 Proven Strategies to Become a Top Seller in Meesho in 2023 Have a Large Variety of Product Listings Meesho product listings Listing a wide variety of products is a good way of becoming a top seller for retailers who sell on Meesho. This must include the most selling products on Meesho, to meet the demand. Retailers being aware of the top selling products on Meesho may have an extra edge for 2023. Customers who shop online generally find appeal in scrolling through multiple listings to arrive at the product they finally want to purchase. Giving them the opportunity to do just that will get them to spend more time scrolling through a retailer’s listings, as opposed to viewing a single product and moving to a competitor’s page. This is a good way of increasing conversion rates and overall sales volumes. Price Your Products Competitively Since one of the main unique selling points of Meesho is its affordability, retailers should oblige by pricing their products on par or lower than their competitors. Making customers feel like they are getting a better deal will help retailers who sell on Meesho undercut the competition and attract more customers with their competitive pricing. This also opens the door to positive feedback and word-of-mouth marketing from customers who want to publicize goods deals to others. Upload Multiple High-Quality Images Pictures on a retailer’s product listing page are the first impression a customer will have of their product so it is in their best interest to use the most complimentary images of the product as possible. It also helps to provide multiple images to showcase the product from different angles and use cases, in the interest of not leaving customers feeling like they need more information to make up their minds. In addition, having high-resolution images removes doubts about the credibility of the product and the brand. With most phones in the current age having multiple cameras, taking good pictures isn’t a struggle and they can be edited on the go. Pay Attention to the Packaging Experience A good unboxing experience can make the product and brand stand out from the rest, in the eyes of consumers. While many companies opt to save money and package their products in drab, boring and plain packages, retailers who wish to become a top seller in their category can focus on providing a unique and high-quality packaging experience to their customers, which will also increase their chances of attaining repeat purchases. Simple things like having the brand logo on the box with a label about the product can go a long way. Use Social Media to Promote Your Brand These days, with most consumers having an active presence on social media platforms such as Instagram, Facebook and LinkedIn, among others, it would be advisable to use the power of these channels to communicate your brand image and product offerings effectively to potential customers. A Meesho seller that pays attention to their social media page is bound to have to hype around their products than one who doesn’t. Another benefit is that posting on these apps is free so Meesho sellers can try experimenting to check what works and what doesn’t. Run Ad Campaigns on Meesho Advertise Products on Meesho One of the ways you can retailers can establish themselves as top seller on Meesho is by making use of the native ad campaign feature that highlights their products and increases visibility compared to their competitors. This is an undisputed way of increasing revenue as more visibility will ultimately lead to more sales. Meesho ads also allow users to track various performance metrics to identify whether the campaign was successful or not. Opt for Meesho’s Next-Day Dispatch Service Register for Meesho next day dispatch service Although many platforms and fulfillment companies offer same-day and next-day delivery, retailers who sell on Meesho and opt to fulfill their products directly through the company to take advantage of the negligible shipping fees can opt for the Next Day Dispatch (NDD) service, which is Meesho’s fastest delivery option. Benefits include shipping badges that display that the product will be dispatched the next day after ordering, faster delivery to customers than the conventional service and placing those product listings at the top of the pile. Keep Track of Analytics on the Meesho Seller Panel Statistics that keep track of a business’s performance can be a very important asset for eCommerce sellers to consistently monitor and compare their success with that of their competitors and their own estimations. The Meesho seller panel enables users to have access to a variety of different metrics such as sales volumes, trends and best-selling products, which can help businesses ascertain which aspects of their business are successful and which need to be tweaked. Sell on Meesho: Benefits and Drawbacks Benefits for Retailers Who Sell on Meesho Meesho consists of the lowest commission rates in the eCommerce industry. Retailers still have to pay a fee of 1.1 to 1.4% on each sale, which is marginally higher than the company’s claimed 0% commission but is still much lower than other selling channels that charge anywhere from 5% to 10% per sale.Meesho does not impose fixed or collection fees on retailers who sell on the platform. This is unprecedented in the industry and allows sellers to have higher profit margins by keeping a higher percentage of revenue from every sale.Retailers who sell on Meesho can generate sales at any time during the day or night, given that the company operates round the clock. This increases the window for sellers to make sales as opposed to a physical store that has to fall in line with time restrictions.While most eCommerce marketplaces levy a fee or penalty if returns are initiated, regardless of the reason, retailers who sell on Meesho are in a unique position where they are not penalised if a return is requested by a customer.In keeping with the theme of Meesho sellers not being charged for conventional eCommerce deductibles, they are also not charged for shipping, if they choose to opt for Meesho’s first-party fulfillment plan. This enables them to charge higher prices and keep a higher ratio of the profit earned from every sale. Drawbacks for Retailers Who Sell on Meesho While Meesho sellers are not directly charged for shipping, delivery expenses have risen dramatically for the company and retailers are at risk of feeling the heat in other ways and may eventually be in a disadvantaged position if the company suddenly changes its policy.A common complaint from Meesho customers is that there are varying degrees of quality, with many products being poorly manufactured, discoloured and more. This may lead to customers associating substandard quality with the entire platform and retailers who sell on Meesho.Another disadvantage of using Meesho’s first-party fulfillment is that slow deliveries are commonplace. While it is free, customers end up paying for it through their time and patience, which can increase their dissatisfaction and cause a negative outlook for your business and its products. You may also read: Sell on Instagram Conclusion If you sell on Meesho and want to become a top seller, it would pay dividends to employ the above strategies to enable you to get ahead of your competitors in the race to earn as many sales as possible. This would not only make your processes more efficient and cost-effective but would also provide your customers with the best possible experience which often translates into positive feedback and reviews which could, in turn, lead to even more customers giving your business a chance to see what the hype is all about. With a little bit of effort and research, you can top the rankings in your respective product category and reap the benefits by generating more sales and increasing your profit margins. If you require assistance with fulfilling orders on Meesho or any other eCommerce service, you can opt to try out WareIQ. WareIQ is a swiftly-expanding eCommerce fulfillment company that offers a host of eCommerce-related services, ranging from storing products in our country-wide network of fulfillment centers to ensuring customers receive their deliveries on time and everything in between. We give users access to the use of advanced technology such as a custom WMS, which helps to automate various aspects of inventory management and can integrate with most major eCommerce marketplaces including Meesho, a well-designed app store that enables users to download apps to enhance productivity through a simple interface and much more. Top Meesho Seller: FAQs Does Meesho impose a minimum order quantity in 2023?No, Meesho does not have any minimum order requirements while buying or selling on its platform. Does Meesho offer any benefits for being a top seller?Meesho does not offer any tangible benefits for being a top-rated seller. However, it is in every company’s best interest to aspire to become one to increase their own profit margins. How do Meesho sellers get paid?Meesho sellers can receive the final payment amount directly from their customers, whether it is COD or online payments. Do you require GST to sell on Meesho?Retailers who have a sales valuation of less than ₹40 lakh per annum are not subject to entering GST details. If the value is above that then they do have to provide GST details. Can you fulfill Meesho orders with WareIQ?Yes, you can integrate Meesho and more than 20 other selling platforms with WareIQ’s WMS to track orders, manage inventory and much more, in addition to fulfilling orders.
February 25, 2023
What is a Packing Slip and What to Include in Packing Slips for Shipping? [+Packing Slip Template Along With Benefits in 2023]
In an increasingly digital world, more and more physical items are becoming obsolete by the second. eCommerce has enabled items to be ordered and paid for entirely online, while receiving the products is the only tangible interaction a customer has with the entire process. Thus, it makes sense that the last instances of physical relics are still present on the package itself, including the box, return label, packaging material, and packing slip. The packing slip is especially important if multiple products are ordered and shipped within the same consignment to the same destination, as it contains a summary of all the ordered items, along with important information about each, such as their SKU number, weight, dimensions, product descriptions, pricing and more. This enables customers to identify exactly what they bought and verify whether all the items are present or not. In this blog, we will unpack, pun not intended, the nuances of packing slips for shipping, including the definition, benefits, differences with other documents, and details it should consist of. What is a Packing Slip? Packing Slip Template A packing slip is a document that provides details about the contents of the package or shipment. It is usually embedded along with the items being shipped and is included inside or attached to the exterior of the package. The objective of a packing slip is to ensure that the recipient of the package is able to easily identify and verify that the items they have received match the ones they ordered. Packing slips are commonly used by businesses that sell and ship physical products to customers. They can also be used for internal inventory management and tracking purposes. The information included in a packing slip can differ based on the specific requirements of the sender and recipient. However, most packing slips for shipping typically include the following information: Order or invoice numberItem descriptions, including quantities, sizes and coloursShipping and billing addressesContact information for the sender and recipientAny special instructions or notes [contactus_lilgoodness] Benefits of Packing Slips for Shipping in 2023 Verifies the Items to be Delivered Source eCommerce is a complex web of various processes that ultimately seeks to ensure that the correct items are successfully delivered to the customer. Oftentimes, warehouse staff can be overwhelmed or confused by the sheer amount of products that are present in a warehouse and identifying the correct ones to be placed in a shipment can be a complicated task. However, since packing slips for shipping contain all the important details about each product within the consignment, including their SKU number, name, dimensions and more, it makes the job of locating them in a storage facility that much easier. This enables fewer mishaps while locating all the items in a specific order and ensures that it is packaged and dispatched correctly. Enables Tracking of Split Shipments Source Sometimes, a single order needs to be split into multiple consignments due to certain factors, like weight, lack of storage space on the transit vehicle, items needing to be shipped to multiple destinations and more. This is done under split shipments and it can create heaps of confusion for the staff involved in the transportation of multiple shipments of the same order. Because packing slips for shipping contain all the information necessary to identify each product, the contents of every parcel can easily be verified by both your company’s staff and the customer, regardless of when they are shipped or received, resulting in a seamless experience all-round. Helps Identify Desecrated Items Source Damage can sometimes occur during transit, regardless of how well they are packaged. This can occur due to mishandling of the shipment, improper protection being enforced, or other unwanted circumstances. However, because the packing slip indicates the contents of the shipped container, it makes it easy to identify which items have been damaged so that a return can be initiated for those specific goods and a refund can be set in motion. Additionally, if an entire parcel has been damaged, the entire value can be calculated based on the packing slip and the next steps can be done accordingly. Confirms the Receipt of All Ordered Goods Source Because packing slips for shipping are a physical record of the important details of all items shipped in a particular parcel, they can be used to verify that all the relevant items have been included. Similarly, it can also help identify if any item is missing so that it can be instantly replaced or re-shipped. Therefore, including a packing slip allows for peace of mind for both the buyer and seller because it makes the entire delivery process more transparent and can correct any inaccuracies immediately. Allows for Seamless Customs Clearance Source If your company sells goods internationally, they will have to pass through customs in the country they are being sent to. Different countries have varying degrees of complexity involved in customs clearance. However, a packing slip can act as a means for customs authorities to check the value and contents of a particular shipment, although a separate commercial shipping invoice that includes similar information as the packing slip but in more detail, would also need to be included. Packing Slip vs Shipping Label vs Invoice: Key Differences [table id=65 /] 7 Important Details That a Packing Slip Should Contain General Delivery Information Similar to an invoice, fundamental information, such as the purchase order number, delivery address and any issues with the item during transit, is helpful for filing purposes. Of course, shipping providers use the shipping label by default but a packing slip can be a valuable fallback in case there are problems during transportation. This helps both the shipping company and the customer identify important information pertaining to the order and can help ease any confusion. List of All the Products To ensure they are receiving all the items they paid for, many buyers use the packing slip to compare the products they receive to the list of what they ordered. Although they can also refer to their confirmation email, some people might find it more convenient to have a packing slip on hand. It is also more useful to use the packing slip to identify the contents of the parcel, rather than look at each individual box and label, which aids in saving time and effort, leading to a better overall unboxing experience. List of Unavailable Goods If it is applicable, it is important to list down any and every item that was ordered but could not be delivered for whatever reason. These products should be listed on the packing slip along with the invoice so they can be reordered. It is pretty uncommon for there to be no communication between the time the order is confirmed and when it is dispatched. However, if it somehow does occur, it will be made very apparent by including a list of the out-of-stock items that were not currently available during the shipping of the order. Number of Units of Each Item The product name or SKU number is insufficient to check the quantity of every individual product from a packing slip because many customers order more than one unit of a particular item. If numerous units of the same item are ordered, a quantity column can help shorten the list so that the packing slip does not go on for multiple pages. It also provides clarification to staff while identifying and packaging products, as well as to customers when they are trying to verify if every item has been received. SKU Numbers of Every Product Customers may not understand what SKUs or UPCs signify but every seller assigns these numbers to their products and use them to keep track of their inventory. It is what the vendor will use to identify the source of a problem if you need to get in touch with them. It also aids in being able to monitor various shipments as they move through different phases of the supply chain and ultimately results in the smooth delivery of every order. Slip Number In order to make sure the correct order was shipped and received, shippers and purchasers can compare the PO number and the slip number, based on how many reference numbers the order consists of. This helps in removing any confusion and ensures that the right order is delivered to the relevant customer, negating the need for returns and addressing customer complaints about the wrong order being received. Contact Information Providing relevant contact information is a must. This ensures that customers can contact your support team in case they have any query, issue or anything else that needs to be addressed on priority. Additionally, you can also provide the addresses of your offices so that customers will not be kept in the dark in terms of getting things sorted on the off-chance that something goes wrong. It will ensure that they have a good experience and can increase the possibility of them making repeat purchases in the future. Conclusion: Leverage the Use of Packing Slips With WareIQ Packing slips for shipping are a supremely important component of the eCommerce delivery process. It allows both sellers and their customers to verify that all the ordered products have been successfully shipped and if not, the un-delivered or damaged products can be easily identified and the returns or refund procedures can be instantly initiated. This helps to provide transparency and increases trust among customers that even if something happens to go wrong, it can be corrected immediately. Since they provide all the information needed to verify the contents of a parcel, customers can simply glance at it to confirm the received items as opposed to looking at the details of each product one by one. If you want to provide a seamless fulfillment experience to your customers, WareIQ is the solution for you. WareIQ has emerged as one of the best 3PL fulfillment solutions in the country. We enhance your eCommerce operations by giving you access to the most advanced technology in the industry, such as a custom WMS software, automated inventory management procedures and more. In terms of packaging and delivery, we can assist in the following ways: Packing Slips We help your business provide packing slips to ensure that both you and your customers can seamlessly verify the contents of every parcel. Branded Tracking We provide branded order tracking pages that can be customized to include any information you want and also be designed according to your tastes. Customizable Packaging We have personalized and custom packaging facilities that can be tailored to your requirements so you can highlight your brand. Choice of Shipping Partners We provide you with a choice of the best shipping carrier facility in the country and automatically assign the fastest and cheapest option for every order. Returns Management We take care of the entire reverse logistics process while also providing safeguards such as an RTO Shield that protects your business from the adverse effects of returns. Packing Slip: FAQs When should a packing slip be included in a shipment?A packing slip should be included in a shipment whenever physical items are being sent to a recipient. This could include orders from an online store, items being returned or shipments to suppliers or customers. Should a packing slip be included in a gift shipment?It is not always necessary to include a packing slip in a gift shipment, as the recipient may not need the information provided. However, it can be helpful to include a gift receipt or a note with the sender's contact information. How should a packing slip be attached to a shipment?A packing slip can be included inside the package, attached to the outside of the package or placed in an envelope that is attached to the outside of the package. Who generally prepares a packing slip?The packing slip is typically prepared by the business or organization that is sending the shipment. How long should a business keep copies of packing slips?A business should keep copies of packing slips for a period of time that is consistent with its record-keeping policies and any applicable laws and regulations. This could range from a few months to several years, depending on the nature of the business and the requirements in its industry.
February 16, 2023
Return Labels for eCommerce: Definition, Importance, Types and 3 Easy Steps to Make Returns Address Labels in 2023
In the modern, hyper-competitive world of eCommerce, it is the duty of sellers to provide the most seamless and intuitive experience to customers, not only in terms of purchasing a product but also in returning it. Returns can occur for a wide swathe of reasons, some of which result from negligence in packaging, damage to products while they are in transit, shipping orders to the wrong address, and more. Additionally, due to the requirement of most companies to have flexible return policies to encourage purchases, customers can also initiate returns on a whim because they had a change of heart, experience buyer’s remorse, or found a cheaper alternative elsewhere. Regardless of the reason, ensuring that your customers can return the received items back to their origin in the easiest possible will have positive implications for your business. It will reduce costs, prevent goods from being held up in unwanted locations, impede them from being perpetually stuck in transit, and can help you retrieve the product successfully. In this blog, we will take a look at the ins and outs of return labels for eCommerce, including their definition, importance, fabrication, methods, types, and more. What are Return Labels? Return labels are pre-printed shipping labels that allow customers to return products to a retailer or manufacturer by typically including the address of the company the items were purchased from and other important information. These labels are generally included with the original shipment and contain the necessary information and instructions for returning the item, such as the return address, tracking number, and any relevant codes or other guidelines. Return labels make the process of returning products easier and more convenient for customers, and they also help retailers and manufacturers manage the returns process more efficiently, resulting in less risk and lower costs. Importance of Including Return Shipping Labels Involves Very Few Financial Resources Source Return labels typically do not require huge financial investments. A return shipping label included in the package also won't cost your company anything if the consumer never uses it, aside from wasting paper. On the flip side, providing an easy method to return goods in addition to having a flexible return policy could persuade customers to send back goods even if they only have a minor defect and it can inspire them to change their mind even if there isn’t anything wrong with products. However, that is a risk that could pay off in the long run, especially as your business starts to expand and more items are sold. Requires Only Limited Effort From Customers Source Returns are an inevitability in eCommerce, especially since companies are encouraged to provide an easy means for customers to return items to avoid offending them and generating negative feedback and criticism. Providing return shipping labels right in the box enables customers to easily and quickly return an item for whatever reason, as soon as they determine that they don’t want it. Conversely, if there were no return labels that specified your company’s address or contact information, they would need to get in touch with you, label the product and ship it themselves, increasing costs and the likelihood of damage occurring due to negligence. Ensures Goods are Returned Securely and Swiftly Source We’ve already established that return labels reduce the amount of time and effort needed by the customer to return a product, hence improving customer experience. Additionally, it ensures that your goods will always wind up at the correct address, rather than to an unknowing person elsewhere, who may just decide to keep their free parcel. A situation like this can have multiple implications for your business, in addition to the general expenses associated with returns. The customer who originally returned it will want a refund and the product may also be misplaced perpetually or take much more time and effort to retrieve. Suggested Read: 12 Most Common eCommerce Customer Pain Points Enables the Lowest-Cost Return Option to be Used Source By ensuring that you provide customers with all the details and instructions they need to successfully return a product to your company, you can choose the cheapest possible method and shipping company to conduct the task. If a customer were to undertake this operation on their own, they could choose an unnecessarily expensive shipping option in a bid to just get done with the task and get their money back - an expense you would later be saddled with. To avoid the additional expenses and confusion associated with this, you can simply include return labels in the box. Limits the Risk of Mishaps or Damage From Occurring Source As discussed above, customers generally would not be aware of how to return a product and may just choose an option that isn’t suited to the type of product that needs to be transported. To avoid the risk of your products getting damaged or stolen, it is best that you take the initiative of providing return labels so that your customers would simply need to follow the instructions that are mentioned. This will ensure that your products are returned safely and securely, and you can resell them or make other uses of them. 3 Easy Steps to Make Your Own Return Labels in 2023 Step 1: Pick a Shipping Carrier and Mailing Option Return labels consist of all the information that customers would need to successfully transport the products back to you. The first detail to specify is the shipping carrier facility you have chosen, along with the mailing category that the product would fall into. This would help the customer understand which shipping company they would need to use to ship the product back. Step 2: Specify the Desired Address After you have provided the details of the shipping carrier and mailing category you have chosen, you need to specify the accurate receiving address that you would want the product to be shipped to. You need to ensure that every detail is correct and that the location is able to receive returned items at any time, regardless of whether it is an office, warehouse or distribution center address. Step 3: Pay the Postage Fees The last step you would need to do is to pay the postage fees for returning the product to your desired location. This would negate any additional effort or payment from the customer and will ensure that they can simply return the item. Doing this will ensure that their entire interaction with your company is seamless and will leave them with a positive impression so that they will have a higher possibility of purchasing from you again. 2 Main Methods Used to Provide Return Labels for eCommerce Embedding the Return Label Within the Parcel Using this method, the return label is ideally enclosed within the cargo when the shipment is sent out to be delivered for the first time. This is the easiest and most user-friendly way to provide return shipping labels to your customers. With this approach, if the consumer ever decides to return the item, they won't need to worry about any of the hassles associated with shipping returned goods. It saves both you and your client time and effort while also safeguarding the product from potential damage and negligence. Enabling Consumers to Undertake Printing the Return Labels Using this method, your company’s website can be used to deliver this service to customers for added seamlessness and functionality. The website could offer a return label template that customers could use to create as many return labels as they need from their own homes. In addition, you could also encourage the consumer to inform you that they want to return an item before emailing them the return label. Before returning a package, the client can download, print and affix the label. However, this method takes significantly more time and resources, and offers less convenience for both parties. Types of Printers Employed to Create Return Labels Inkjet Printers Inkjet printers use liquid ink cartridges to recreate an image on a paper surface. They are often used for printing high-quality images and graphics but can also be used to print text and barcodes. Inkjet printers are typically lower in cost than laser printers but the cost of ink cartridges can add up over time. If you plan on including return shipping labels along with all your packages, the recurring expenses associated with inkjet printers may disqualify them from being your go-to option when it comes to label printing. Laser Printers Laser printers use toner cartridges to print a particular image on paper. They are often faster and more efficient than inkjet printers, and can produce high-quality text and barcodes. Laser printers are generally more expensive than inkjet printers but the cost per page is often lower. They are commonly found in workplaces and households in current times, and they are able to print on any page you feed them. Naturally, these traits make them affordable and user-friendly in the long run. However, keep in mind that they can print only one label at a time. Thermal Printers Thermal printers use heat to transfer ink onto paper. They are often used in industrial settings and are well-suited for printing barcodes and various types of labels. Thermal printers are generally faster than inkjet and laser printers but may not be suitable for printing high-quality images or graphics. They generally don't employ a ribbon for printing. Instead, they use a chemical layer that is heated to activate the production of printed images. On the downside, they produce labels that don't last very long, especially with exposure to UV light. Additionally, labels printed on other printers are more vivid and crisp than on thermal printers. Conclusion: Provide Return Labels for Seamless Returns With WareIQ Due to the nature of the current eCommerce landscape, customers expect retailers to have highly flexible return policies for a hassle-free experience. Oftentimes, this affects their purchasing decisions because they want to be able to return an item easily if it is damaged, it isn’t what they expected or they simply had a change of mind. Because returns are such a common occurrence, it would be beneficial for your own business to provide the easiest possible method for customers to transport items and for you to receive them. Shipping packages with return labels in the box is an easy and cost-effective way of accomplishing this. It requires little effort from both parties while significantly improving the efficiency with which goods are returned. If you want to provide return labels along with every package, along with other value-added services, WareIQ should be your go-to option. WareIQ is one of India’s leading eCommerce fulfillment solutions. With a whole hose of various fulfillment services, we enable you to up your retail game and provide your customers with a positive experience that they will not forget. Additionally, we offer multiple returns facilities and safeguards that will improve returns management across the board. Some of them are listed below: Return Labels We provide label-printing services in-house, so you can include return labels in every package. Reverse Logistics We are successfully running as a leading reverse logistics company in India and can completely take care of your entire reverse logistics procedure and ensure your goods are inspected and transported back to your storage facility safely and securely. Branded Tracking We provide branded tracking pages that can be customized for both order delivery and returns, so you can always monitor the status of every package. Customizable Packaging We provide custom packaging facilities that can protect your goods in transit while also ensuring that your customers have an enhanced unboxing experience. RTO Shield We help protect your business from the negative impacts of returns by insuring and safeguarding your products and reducing RTO costs. Return Labels for eCommerce: FAQs What information is typically included on a return label?A return label typically includes the following information:- Return address- Tracking number- Shipping carrier details- Relevant codes- Instructions Do customers have to pay for return labels?Whether or not customers have to pay for return labels depends on the retailer or manufacturer's policies. Some offer free return labels, while others require customers to pay for the return shipping. Can return labels be customized?Return labels can often be customized with a company's branding or other relevant information. However, this depends on the extent of the services offered by your 3PL partner or in-house label printing services. Can return labels be used for international returns?Return labels can be used for international returns but customers should check with the retailer or manufacturer to confirm their policy and any associated fees. What should customers do if they lose their return label?If customers lose their return label, they should contact the retailer or manufacturer to request a new one or get all the information that the return label provided.
February 15, 2023
What is Kitting in eCommerce? Definition, Role, Benefits and Steps Involved in Managing Kitting in Warehouses in 2023
In the eCommerce, manufacturing and retail industries, millions of raw materials, products and shipments are distributed to and from various locations every day. The logistics involved in ensuring that all these items are shipped as cost-effectively and efficiently as possible is immense. It is in every business’s best interest to identify ways to reduce their logistics costs and reduce shipping costs and this can usually be done by optimising the amount of space each parcel takes up. One fool-proof way of ensuring this happens is by implementing kitting. This enables multiple items to be shipped together in one large consignment, reducing the space it takes up in transit and also the number of trips needed to eventually ship each item. In practice, it is just as efficient as it sounds and it helps sellers, suppliers and manufacturers alike ship large amounts of goods with ease. In this blog, we will get into the nuances of kitting, including its definition, its role in different business facets, its benefits, and the steps involved in managing the kitting process. What is Meant by Kitting? Kitting refers to the process of grouping and packaging components or subassemblies together to create a final product or kit. This is often used in manufacturing, assembly, or distribution operations, where multiple items are required to complete a single task or project. A kit may consist of raw materials, parts, tools, instructions or any combination of these items that are required to complete a specific task. The components are pre-selected, packaged, and labeled to ensure that everything required is included in one convenient package. This helps to streamline the production process and minimise the need for separate ordering and handling of individual components. Kitting can be done manually or with automated processes such as pick-to-light or barcode scanning systems. The goal of kitting is to save time and improve efficiency by reducing the number of steps involved in picking and packaging components and in mitigating the risk of missing components or incorrect assembly. What are the General Components of a Kit in eCommerce? The components in a kit in eCommerce can vary depending on the specific kit and the industry it is being used in. Some common components that are often included in kits in eCommerce include: Products: The primary components of a kit, which can include physical items such as hardware, electronics, toys, or clothing, as well as digital items like software or online services.Packaging: Kits often include packaging to protect and organize the components, such as a box, bag, or other containers.Instructions: Kits may include instructions or documentation to help customers understand how to use or assemble the components.Accessories: Kits can also include additional accessories, such as adapters, cables, or batteries, that are needed to use or complete the components.Marketing materials: Kits may include promotional or marketing materials, such as flyers, posters, or stickers, to help market the kit and its components. [contactus_lilgoodness] The Primary Roles of Kitting in 2023 Source In Warehousing Kitting is widely used in warehouses as a means to streamline order fulfillment and improve the accuracy of picking and shipping processes. The goal of kitting in a warehouse is to simplify the process of gathering, packaging and shipping multiple items as one unit, thereby reducing the number of individual picking operations required to complete an order. Overall, kitting in a warehouse can improve the efficiency of order fulfillment, reduce the risk of errors, and streamline the supply chain. Here's how kitting is typically used in warehouses: Pre-Assembly: Components are pre-assembled in a warehouse to create a complete kit. This can include items such as hardware, tools, instructions, or packaging materials. The kit is then packaged and labelled to ensure everything required is included in one convenient package.Picking and Packaging: Kits are picked and packaged according to the specific requirements of each order. This can involve the use of automated systems such as barcode scanning or pick-to-light systems to ensure accuracy and efficiency.Shipping: The completed kits are then shipped to customers or other warehouses as required. Shipping kits instead of individual components help to reduce the number of shipments required, which ultimately lowers shipping costs and improves delivery times. In Inventory Management Kitting plays an important role in inventory management by simplifying the tracking and management of multiple items that are used together in a specific product or process. The goal of kitting in inventory management is to reduce the number of separate items that need to be tracked, making it easier to manage stock levels and ensure that the right components are available when needed. Kitting in inventory management helps to simplify the tracking and management of components, limit the risk of stockouts and improve the effectiveness of order fulfillment. Here's how kitting is typically used in inventory management: Kit Creation: A kit is created by grouping multiple items together that are commonly used together in a specific process or product. This can include raw materials, parts, tools, instructions, or any other item that is required to complete a specific task. The kit is then labelled and tracked as a single item in the inventory management system.Inventory Tracking: With kitting, inventory management becomes simpler as the number of separate items that need to be tracked is reduced. This can make it easier to manage stock levels, ensuring that the right components are available when needed.Stock Reordering: Inventory management systems can automatically trigger stock reorders when the levels of components in a kit fall below a predetermined threshold. This helps to ensure that the right components are available when needed, reducing the risk of stockouts and improving customer satisfaction. In Manufacturing Kitting is a widely used practice in manufacturing to streamline the assembly process and improve the accuracy and efficiency of product production. The goal of kitting in manufacturing is to simplify the process of gathering and packaging multiple components that are required to produce a single product. Kitting in the manufacturing industry can improve the efficiency and accuracy of product production, thus reducing the risk of errors and simplifying inventory management. Here's how kitting is typically used in manufacturing: Consolidation of Raw Materials: Components and raw materials are pre-assembled in a manufacturing facility to create a complete kit. This can include items such as parts, tools, machinery and everything else needed to create the finished product. The kit is then packaged and labelled to ensure that everything required is included in one convenient package.Assembly Line: The components of a kit are placed on an assembly line to produce the final product. The use of kitting helps to simplify the assembly process and mitigate the risk of mistakes, mishaps and inefficient practices.Quality Control: Kitting can also help to improve the accuracy and consistency of product production by ensuring that all required components are included in each kit. This can help to reduce the risk of quality issues and improve customer satisfaction. Benefits of Kitting for Retail Businesses Improves Efficiency Source Kitting streamlines the process of assembling products by pre-grouping all the necessary components into one kit. This saves time and mitigates the risk of errors, since all the required parts are readily available and can be easily assembled together. This ensures streamlining and optimization of various processes such as manufacturing, order fulfillment, transportation and more. Suggested Read: How to Streamline Shipping Processes for eCommerce Sellers in 2023? Increases Productivity Source By reducing the amount of time spent searching for parts and gathering materials, kitting can significantly increase productivity. Assemblers can focus on their main task, knowing that the necessary components are all in one place. Additionally, because every important element is pre-packaged and bundled together in a single kit, it prevents the need to have multiple shipments and journeys for multiple products. Reduces Costs Source Kitting can help reduce costs associated with inventory management, such as carrying costs and obsolescence costs. By grouping components together, kitting allows companies to reduce the number of individual items they need to keep in stock, thus reducing the amount of money they need to spend on inventory management. It also requires fewer consignments to be dispatched, reducing transit and storage costs as well, saving the business a significant amount of funds in the process. Enhances Inventory Control Source Kitting makes it easier to track inventory levels, since all the components of a kit can be easily accounted for because they are bundled together in a single shipment. This helps companies maintain accurate inventory levels and reduces the risk of stockouts. Furthermore, kitting necessitates that products of a similar nature and end goal are stored together, making inventory storage more organised. Amplifies Customer Satisfaction Source Kitting can help improve customer satisfaction by providing complete, ready-to-use products that meet their specific needs. Customers are able to receive their products quickly and efficiently, without having to worry about missing parts or assembly errors. Thus, it provides a significant increase in quality and speed by which orders are delivered to their respective customers, enabling an overall better experience. How to Manage the Inventory Kitting Process in Warehousing in 2023? 8 steps involved in the inventory kitting process are mentioned below: Accurately Define the Kit The first step in managing the kitting process is to define the kit by determining which components or parts are needed to create a complete, ready-to-use product. This includes identifying the specific items that should be included within each kit, as well as the quantities needed. Ascertain the Components in the Kit The next step is to determine the components that will be included in each kit. This may involve reviewing product specifications, working with suppliers to obtain components, or creating custom components to ensure that every kit has the required elements necessary to complete the intended task. Gauge the Required Inventory Levels Once the components have been determined, it is important to plan the inventory levels of each component. This involves determining how many kits can be made with the available components and determining how many components will be needed to meet demand. Therefore, inventory levels need to be adjusted accordingly. Efficiently Assemble the Kits After planning the inventory levels, the next step is to assemble the kits. This involves physically grouping the components together and preparing the kits for shipment. This requires an efficient and standardized assembly process to increase efficiency, reduce unwanted errors and save time. Securely Store the Kits The assembled kits need to be placed in a safe and secure environment until they are ready to be shipped. This may involve using warehouse space or using off-site storage if space is limited. Determine the best possible conditions depending on the nature of the contents of the kit. Track Inventory Needed for the Kit It is important to track the inventory levels of the kits to ensure that there is always enough stock to meet demand. This can be achieved using a variety of tools, including barcode scanning, software systems or manual methods. High-end inventory management software can automatically keep you aware of your inventory levels in real-time. Consistently Monitor the Quality of the Kit To ensure that the kits are of the highest quality, it is important to regularly monitor their quality and address any issues that arise. This may involve conducting quality control inspections or working with suppliers to resolve any quality issues. This will help you identify any bottlenecks or processes that need to be improved or removed entirely. Update Components of the Kit as is Required The components of a kit may change over time, so it is important to regularly review and update the components as needed. This may involve working with suppliers to obtain new or improved components or creating custom components as needed. This will help your kits stay relevant and up-to-date with your business objectives. Conclusion: Leverage the Use of Kitting With WareIQ Kitting can be beneficial to retailers in a number of ways. It helps to streamline various important procedures, reduces the time taken to complete them and lowers the expenses associated with product manufacturing, storage and distribution. It is also not very difficult to implement as it just entails multiple items of a similar nature or with a common end goal to be placed together in a single consignment. Therefore, if your business needs to streamline its distribution procedures and reduce costs, kitting can be a good place to start to achieve this goal. Additionally, if you do not have the available manpower and resources to handle kitting on your own, you can always offload it and multiple other logistics and shipping procedures to a 3PL fulfillment company like WareIQ. WareIQ is one of India’s leading 3PL fulfillment companies. Having been founded in 2019, it has come to offer many solutions for a vast variety of business tasks, such as order fulfillment, inventory management, product storage, last-mile delivery and much more. We provide a vast number of kitting and packaging services, some of which are listed below: Product Bunding: We enable you to bundle your products based on common characteristics and objectivesCustomized Packaging and Shipping Labelling: We provide eCommerce custom packaging and labeling services that can be tailored to your requirementsBuilt-to-Order Services: We assist you with preparing orders only after they come in to save you effort and resourcesQuality-Control Testing: We offer comprehensive quality checks to ensure that all your processes are upto speedProduct Assembly: We provide the tools necessary to assemble products for various tasksCustomizable Notes: We enable you to write personalised notes to your customers in every kitGreeting Cards: We provide greeting card services to ensure your customers are kept engaged as soon as they purchase Kitting: FAQs What is kitting in e-commerce?Kitting in eCommerce refers to the process of bundling multiple products together into a single kit or bundle for sale. How is kitting different from bundling?Kitting and bundling are similar concepts. Bundling involves the sale of multiple items as a single unit, while kitting involves the gathering and packaging of multiple items for a specific process or product. What is a pre-pack kit?A pre-pack kit is a kit that is pre-assembled and packaged in a manufacturing facility. The components of a pre-pack kit are typically used in a specific process or product and the kit is ready for use when required. How does kitting affect order fulfillment?Kitting can improve the efficiency of order fulfillment by reducing the risk of missing components or incorrect assembly and by ensuring that the right components are available when needed. This can result in improved customer satisfaction and reduced operating and storage costs for the company. Can kitting be automated?Yes, kitting can be automated using technology such as barcode scanning and inventory management systems. Automated kitting involves using technology such as software or robots to assemble products into a kit or bundle for sale. This process can streamline the kitting process and reduce the time and resources required to manually assemble products, reducing the risk of errors and improving inventory management. What are the challenges in inventory kitting and assembly in warehouses?The challenges of kitting and assembly in e-commerce can include ensuring accuracy, ensuring that all components are available in the warehouse, and meeting the demand for customized kits and bundles. How is assembly different from kitting?Assembly involves putting together individual components to create a finished product, while kitting refers to bundling multiple products together into a single kit or bundle for sale.
February 04, 2023
Continue Selling When Out of Stock on Shopify: A Comprehensive Step-to-Step Guide to Maintain Your Shopify Sales During Out-of-Stock Situations in 2023
Shopify is one of the largest online marketplaces in the world. Since its inception in 2006, the company’s seller base has grown to encompass the aspirations of more than 1.7 million retailers across the world. With the shopping tendencies of customers shifting towards eCommerce on a rapid scale, sellers are constantly under pressure to maintain the right amounts of inventory so that they can fulfill orders swiftly and efficiently. However, there are certain circumstances that cause stockout situations for particular products. If you do not plan accordingly, it can result in lost sales and profits, which can have dire consequences for any business. While the focus should be on ensuring you always have the right quantity of your best-selling SKUs in stock, there are also ways to ensure that you can continue to accept orders and fulfill them at a later date, mitigating the dissatisfaction caused by products being out of stock. In this blog, we will take a look at the circumstances under which you should continue selling when out of stock on Shopify, the advantages of doing so, steps to continue selling your items, and 5 tips to follow. The Circumstances Under Which You Should Continue Selling When Out of Stock on Shopify While selling products on Shopify, an item is deemed as being out of stock when the inventory level for it is at zero or lower. By default, Shopify won't permit buyers to purchase a product when you run out of the required number of units needed to fulfill current and future orders until you replenish the inventory levels and add the necessary quantity of new stock. Once that is done and the default setting is modified, customers will then be able to purchase out-of-stock products from that item’s inventory section. You might want to let customers purchase products that aren't currently in stock for a number of reasons. The main ones are listed below: You want to enable pre-orders for a newly launched itemYou want to keep selling while you wait for your upcoming stock to arriveYou intend to initially sell items, followed by ordering the necessary suppliesYou aren’t keeping track of the actual level of inventory for various productsYou do not want to lose out on potential sales [contactus_uth] How Do You Benefit From Selling Products When Out of Stock on Shopify? Prevents Customer Dissatisfaction If you continue selling when out of stock on Shopify, you can halt upsetting your clients. You can keep your consumers informed about all the products you sell, making it simpler for them to make purchases even when a product is out of stock. They will appreciate the transparency and the ability to buy a product or add them to a wish list even if they cannot get it right away. You also won't lose out on Shopify sales opportunities by employing Back In Stock alerts as opposed to simply out-of-stock products. This is because clicking the "notify me" button indicates that you'll soon refill your consumers' preferred goods. So they only need to submit their email to receive a notification when the item again becomes available for purchase. Enables Accurate Inventory Planning You can make smarter inventory planning decisions by looking at the waiting list for a product that's out of stock and selling products when out of stock on Shopify. When a product has a long waitlist, you will be aware of the number of units you need to order and can make the necessary arrangements. You can also make smaller orders in the interim if there is a short queue for another item. Additionally, you might want to think about reducing the price or discontinuing the sale of a product if no one is waiting for it, which will also help you discern how successful it is. Maintains Your Sales Figures According to research, when customers are confronted by out-of-stock product pages, retailers risk losing close to half of the intended orders. For a typical seller, those abandoned transactions result in sales losses of roughly 4%. According to Harvard Business Review, 7% to 25% of customers who encounter a stock-out will keep browsing but won't purchase a replacement for their desired item at your business. Additionally, 21% to 43% will actually go to another store to purchase their desired item. Therefore, if you give customers the option of purchasing an item even if they have to wait more time for it, there are more chances that they will choose it as opposed to browsing for it elsewhere. Suggested Read: How to Handle out-of-stock items? Steps to Sell Products on Shopify if They are Out of Stock New Product Listings Source You can enable the option to make your products visible while they are out of stock when you first list your products. The first step is usually already selected by default. Follow the below procedures to continue selling when out of stock on Shopify while listing new products: Step 1: While creating a new product listing, click the “Track Inventory” checkbox in the “Inventory” sectionStep 2: Below the checkbox, there will be an additional “Continue Selling When Out of Stock” option that you need to enable Existing Product Listings Source You can edit current product listings in bulk, which enables you to make a change on a single listing and apply it to all of your other existing products. Follow the below procedures to continue selling when out of stock on Shopify for existing product listings: Step 1: Scroll to the “Products” tab and select “All Products”Step 2: Select all of the products you have currently listedStep 3: Click on the “Edit Products” optionStep 4: After the spreadsheet shows on your screen, select “Add Fields” and then choose “Continue Selling When Out of Stock”Step 5: Select the tick boxes at the side of all the products you want to continue selling once they are out of stock Suggested Read: 15 Most Common Mistakes To Avoid When Using Shopify for Your Retail Business in 2023 5 Simple Ways of Selling Products When Out of Stock on Shopify in 2023 Suggest Alternative Products Source You should think about including a section in the product descriptions for related items that are available on your site to continue selling when out of stock on Shopify. It is imperative to give your clients some recommendations for substitute products so they might find other options equally appealing and eventually buy a few of them. This is a strategic tactic, especially if the out-of-stock products generate a lot of traffic from other sources. Many Shopify themes allow you to place the related products tab directly under the product information. You can experiment with the messaging as well. For instance, you write something along the lines of “Take a look at similar products that we offer while this item comes back in stock” rather than just "Related Products." Place Out of Stock Items Last on Product Lists Source Your clients won't be able to buy a product if it's sold out. Therefore, there is no purpose in displaying a product that is not currently available for purchase. Therefore, the out-of-stock goods need to be placed last on various product and category lists to prevent them from being easily visible and accessible to customers, who may end up trying to purchase them, only to run into a variety of hurdles. Sadly, there is no way to accomplish this directly through your Shopify admin panel. But in the same way that some Shopify applications let you include a "Notify Me" option to your listing pages, there are other apps that let you move the items that aren't presently available and conceal them at the bottom of your page. Refrain From Hiding Out of Stock Items Source On their websites, some retailers prefer to hide or remove out of stock products from the view of customers. When you do this, you end up directing your clients to nonexistent pages and 404 errors, which is a recipe for disaster and can make them lose faith in your brand. If you have connected that item to an ongoing social media marketing effort, it can get even worse because leads will flock to your site, only to be disappointed. If you want to continue selling products when out of stock on Shopify, simply give people the option of buying them at a later date. This will ensure you continue to get sales and will also ensure that customers don’t get a long-lasting negative impression of your business. Inform Customers When Products are Sold Out Source It is important to inform your customers that certain items are currently out of stock after placing them in a strategically out-of-sight way. So, on the collection page of your shopify website, you must place a “Sold-Out” banner upfront on the relevant listing pages so that customers will be instantly informed. However, only do this for the items you have no intention of selling or restocking in a hurry. Your clients will be able to tell which items are available and which are not, thanks to this, which will prompt them to continue browsing other products that are available. Shopify uses a unique HTML class, so out of stock goods can be targeted using a custom CSS. Because of this, you will need to work with code and perhaps enlist the aid of a programmer. Provide an Option for Customers to Get Notified Source You must provide your clients with a suitable solution to continue selling when out of stock on Shopify. By including a "Notify Me" in an accessible location on the listing pages of every out of stock item, you can allow customers to indicate their interest in purchasing that item. Customers can enter their email address or phone number when they click the button, allowing you to add them to the waiting list and send them an alert when the product is back in stock. Remember that if a product has multiple variants, each inventory variant must be edited independently. To add a "Notify me" button to your store, simply browse the back-in-stock alert applications in the Shopify app, shopify plus store and choose an appropriate option. Conclusion: Fulfill Your Shopify Orders With WareIQ Out of stock situations are a sad reality for every retailer. However, instead of panicking and causing even more damage, you can prepare for it and use the aforementioned tactics to continue to achieve your sales targets and ensure your customers have a positive experience. Shopify as a platform is highly customisable and has no dearth of productivity-enhancing apps that can redirect the attention of your customers whenever you want to. This can help you recommend alternative products, add them to a wishlist and get their contact information to promote upcoming products in the future. If you need assistance with fulfilling orders on Shopify and any other eCommerce selling platforms, consider partnering with WareIQ. WareIQ is an eCommerce fulfillment company that provides a wide range of services and can fulfill orders on most major online marketplaces, including Shopify. Some of our main features include: Platform Integrations Shopify and more than 20 other eCommerce channels can be seamlessly integrated with WareIQ so you can view all of your crucial data from a single dashboard. Super-Speedy Delivery With the help of WareIQ, you can deliver purchases to consumers on the same or the following day, improving their experience with your business. Returns Management Returns are an unavoidable aspect of online shopping. Their detrimental effects on your company don't have to be, though. We fully manage your returns process and provide a number of precautions to shelter your business. Selection of Shipping Companies With more than 12 of the largest shipping companies in the nation as partners, WareIQ has a smart allocator that chooses the quickest and least expensive shipping method for each order. Comprehensive Storage Network in India We have a network of dark stores and fulfillment centers that spans the entirety of India. Additionally, you can manage your orders on all of them using our unique WMS. Suggested Read: How to Fulfill Shopify Orders with WareIQ in 8 Easy Steps Continue Selling When Out of Stock on Shopify: FAQs Can you continue selling when out of stock on Shopify?Yes, you can continue selling out of stock items on Shopify using a backordering or pre-ordering system. How can you set up back ordering on Shopify?You can set up backordering by editing your product settings to allow customers to purchase out-of-stock items. You can also use an external app to manage backorder. How do I notify customers when an out of stock item becomes available?You can send automated email notifications to customers using a Shopify app or by setting up email notifications in your store's settings. Can you still charge customers for out of stock items?Yes, you can still charge customers for out of stock items, but you should clearly communicate the expected shipping date or availability. How can you manage backorders on Shopify?You can manage backorders by tracking inventory levels, updating product availability and communicating with customers. Use a Shopify app or manually update your product settings to manage backorders.
January 31, 2023
10 Successful Omnichannel Retail Examples From World’s Best Omnichannel Retailers in 2023
Likely, you have successfully been exposed to an omnichannel retail approach, even if you weren't aware of it. In addition, some merchants are getting very inventive in targeting their consumers and maintaining their constant engagement since the journey to buying encompasses an expanding number of channels and devices. An omnichannel retail approach combines many customer-facing sales and communication channels, combining their strengths to provide a convenient, dependable, cogent, and all-encompassing customer experience. Fashion firms are seeing great success because of their solid omnichannel presence! The average retention rate for retailers with an excellent omnichannel strategy is 89%, compared to 33% for those without. We look at the most successful omnichannel retail examples the fashion industry has seen by 2022 to understand what omnichannel success looks like. What Is Omnichannel Retail? Omnichannel retail refers to delivering a consistent consumer experience over various channels, from brand recognition to order fulfillment and delivery. Whether shopping online, on their smartphone, on social media, or in a physical store, customers may get a seamless and unified experience with an omnichannel strategy. To provide a seamless, one-of-a-kind, and personalised consumer journey, omnichannel retail further streamlines the usage of several sales channels compared to multichannel retailing. Moreover, regardless of the point of sale, the fulfillment procedure is more reliable and affordable. The Advantages of Omnichannel Retailing For instance, a business might provide service via Facebook Messenger, live chat, email, and phone in addition to its desktop website. There are many advantages to using an omnichannel strategy in your marketing, sales, and service plans. The benefits comprise- Enhanced Customer Reach You can contact your customers wherever they are if you have an omnichannel retail, marketing, or service plan. They are no longer required to look far and wide to find you. Instead, your staff or your products are accessible to everyone, everywhere, with just a click, an email, a direct message, or a phone call. Increased Profitability Using an omnichannel strategy, customers are encouraged to interact with brands through several touchpoints and channels. Research indicates that clients that engage with many touchpoints are 30% more valuable. Therefore, these enhanced, varied engagements at each stage of the buyer's journey can help increase revenue. This more specific messaging also fosters loyalty, increasing the likelihood that a customer would use your brand again. Even though they make up a smaller fraction of your customer base, repeat customers typically account for 40% of your sales. Increased Customer Engagement If your customers believe they have multiple ways to contact your sales and customer support personnel, they will be happy. Or if consumers can easily buy your stuff no matter what device or platform they prefer. Customer happiness is the secret to lowering customer churn and retaining them as loyal customers. As you can see, providing your clients with an omnichannel experience is essential for your company's success. After that, describe the omnichannel experience. Improved Client Loyalty You enhance the likelihood of first-time sales and keep customers coming back for more by engaging them across different platforms and adding value to your content. Boost in Brand Loyalty Customers can tell that you understand them and are prepared to try to get to know them when you connect with them across many touchpoints and engage them with customised content. Doing this will foster brand loyalty, raising average order value and customer lifetime value (CLTV) (AOV). You can learn more about customer pain points for e-commerce here. Rise in Foot Traffic By merging your product, sales, and customer data, you can build an integrated, connected, omnichannel customer experience that will give rise to both online and store traffic. Better Identification Information Going genuinely omnichannel should include your data analytics and how customers interact with your business. For example, brands may better understand the customer journey, when and where customers want to engage, and which campaigns have generated the most value by measuring engagements across channels. Your strategy can use this data to develop better-targeted advertisements and maximise media expenditure. 10 Best Omnichannel Retail Examples in 2023 As some individuals may already be aware, the advent of Omnichannel has sparked a complete transformation in retail trading. Although most retailers know Omnichannel's usefulness, not all can successfully use it to run the business at scale. The issue arose when it was discovered that although they were aware of the potential adverse effects of Omnichannel, doing so still needed to be solved. Obstacles may be caused by disparities in diverse fields, business size, competitiveness, and other factors. Therefore, there isn't a tried-and-true recipe for every firm to succeed with omnichannel. It's likely to gain knowledge from others' successes, nevertheless. So here is a list of 10 impressive Omnichannel Brands that you should carefully study and imitate. DSW (Designer Shoe Warehouse) Source With more than 500 stores around the country and an online presence, DSW, Inc. (Designer Shoe Warehouse) is an American footwear retailer that sells name-brand and designer shoes and fashion accessories. EBay Enterprise chose them as one of the best omnichannel retailers in 2015. Valuable Takeaways from DSW Customers can now shop for more colours, styles, and extended sizes via mobile devices and digital displays thanks to new infinite aisle technology.Customers may browse redeemable Rewards certificates, wish lists, and personalised offers using a new in-store mobile application and check out swiftly from anywhere in the store.DSW recently updated its e-commerce platform in related news to release new search and personalisation possibilities. Customers can now access more relevant search results on DSW.com. Thanks to the improvement, they will soon be able to access tailored information.Additionally, the firm intends to provide customers with the option of buying items online and picking them up in-store, which would further broaden DSW's brand of shopping ease. Urban Outfitters Source An international American clothing company with its main office in Philadelphia, Pennsylvania, is Urban Outfitters, Inc. In addition to those countries, it also runs retail operations in Belgium, Canada, Denmark, France, Germany, Italy, Netherlands, Pakistan, Sweden, the United Kingdom, and Spain. Its stock mainly comprises clothing, accessories, sportswear, gear, and housewares for both men and women in the fashion industry, as well as music, primarily vinyl records and cassettes. Takeaway: Urban Outfitters prioritizes digital in their omnichannel strategy. Create a comprehensive and user-friendly website to make visitors feel at home for as long as feasible. They employ a variety of media, including slideshows, drop-down boxes, and movies. The front end is simple and easy to use. According to clever categories, shoppers can search for the products they want. You can use a straightforward website builder and incorporate such user-friendly components if you're a small business creating a little online store.A new approach to the content company has created the "UO Live" music series and video streaming channel, and its music-focused Instagram page to sell on Instagram features exclusive releases and contests. The shop has widened its product offers in the area to give its festival-going customer base a genuine omnichannel "surround sound" experience, vinyl, headphones, and other music-related accessories are available in addition to its shop and online product offers.Urban Outfitters uses Instagram as a branding tool and retargets its marketing to an older audience. One of the methods this brand used to alter was Instagram, where the graphics were improved, and better products that would appeal to an adult market were shown. Abercrombie & Fitch Source A&F, an American shop headquartered in New Albany, Ohio, specialises in stylish casual apparel for youthful customers. The corporation runs 1,049 locations for the three brands. Abercrombie Kids and Hollister Co. are two more subsidiary brands run by the business. The advantages of Abercrombie & Fitch's Omnichannel are: They permitted online and in-store pickup for customers.The system may conduct web searches for in-store merchandise to aid customers in making decisions.Customers' carts will be shared across all devices for product purchases to ensure a seamless online shopping experience. If a customer adds some items to their shopping basket, the transaction is halted for whatever reason. They can access those products later via a mobile device, allowing them to proceed to the next step without having to start over.Abercrombie & Fitch's Omnichannel enables cross-channel product returns.Three or more channels are provided for customer service. Foot Locker Source A sportswear and footwear retailer based in the United States, Foot Locker Retail, Inc. operates in 28 different countries and is headquartered in Midtown Manhattan, New York City. It's important to discuss the efforts to obfuscate the distinction between online and offline stores while examining Foot Locker's effectiveness in operating Omnichannel. At actual stores, video walls are displayed, allowing customers to: Online product research in-storeView the merchandise from all sides by rotating it.Read the feedback left by other users who have worn it. Additionally, there is a better connection between the internet-store and the actual location. Therefore, customers can notice the price breaks in both places, for instance, if this brand offers discounts on some products. As a result, the requirement of a constant price is met. ZARA Zara Zara is a Spanish fast fashion brand owned by Inditex Group. It was founded in 1975 and is known for its trendy and affordable clothing and accessories. Zara has a reputation for producing high-quality products and responding quickly to changing fashion trends, which has contributed to its success and popularity. The brand has a global presence with over 2,000 stores in 96 countries. In addition to its brick-and-mortar stores, Zara also has an online store and a mobile app, making it accessible to customers globally. Zara's commitment to sustainability and environmental responsibility is also a key aspect of its brand image. Zara's omnichannel strategy Online Store: Zara has an e-commerce website that allows customers to purchase products online.Mobile App: The brand also has a mobile app that allows customers to shop, check store availability, and receive shipping notifications.In-Store Experience: Zara invests in creating a seamless in-store experience with an attractive store design and a variety of products.Fast Fashion: Zara follows a fast fashion model, producing new collections frequently and responding quickly to changing customer preferences.Store Pick-up: Customers can purchase products online and pick them up in store, allowing for a more convenient shopping experience.Integrating Technology: Zara is continuously integrating technology into its stores, such as RFID tagging, to improve supply chain efficiency and enhance the customer experience.Social Media: The brand has a strong presence on social media platforms to engage with customers and showcase its products. Ulta Beauty Source Ulta Beauty, Inc., with headquarters in Bolingbrook, Illinois, is a network of beauty stores in the United States. Ulta Salon, Cosmetics & Fragrance, Inc. was its previous name until January 2017. Men's and women's fragrances, hair care items, and cosmetic and skincare brands are all available at Ulta Beauty. A salon is also open in each store. The critical takeaway from Ulta Inventory sharing- Ulta's physical locations and online stores can access the same stock.Online product debuts- Ulta initially adds new products to its e-commerce site before bringing them into stores, usually two weeks later. According to Hamm, this enables online discovery and encourages customers to enter the business.Ulta sets a challenge to create the online experience with mobile in mind rather than desktop. According to Hamm, we start with mobile and then adapt to other mediums.Synced inventory- Similar to other retailers, Ulta observes that a sizeable percentage of its site traffic, both mobile and desktop, is made up of people checking to verify if the item they're looking at online is available in-store. For Ulta to inform web users of the availability of its product, inventory levels are synchronised.Collaborative leadership: Within the Ulta organisation, there is regular contact between the various teams. According to Hamm, no matter the department, whether it is a supply chain, inventory, or merchandising problem, it is one experience for the customer. And it's this teamwork that makes it possible to approve, fund, and carry out omnichannel projects.Marketing attribution: All online and offline marketing initiatives are evaluated to see how they affect consumer spending.Shared data is necessary for Ulta to provide smooth and straightforward customer experiences because customers are the company's primary focus, according to Hamm. For instance, store employees can propose products to in-store customers depending on information about a customer's prior online purchases. Pet Smart Source The selling of pet animal items and services, such as dog grooming and training, cat and dog boarding facilities, and daycare, is the focus of PetSmart Inc., an American retail chain located in the USA, Canada, and Puerto Rico. Birds, fish, amphibians, reptiles, and various small animals, including guinea pigs, chinchillas, gerbils (except in California), numerous types of hamsters, and mice, are also available for adoption and purchase at PetSmart. The Key Learning from PetSmart Due to the following characteristics, PetSmart ranked sixth in the study: Choose online and pick up in person.Search online for in-store merchandise.The functionality of receiving returned goods is ensured, as is sharing the cart between devices.The price stability is perfect. Sierra Trading Post Source The TJX Companies run the catalogue, online, and in-store retailer Sierra Trading Post, which sells discounted goods. The Cheyenne, Wyoming-based business sells items in the following categories: footwear, clothing, and home décor, as well as outdoor recreation, fitness and adventure gear, and apparel. As of June 2017, Sierra Trading Post operated 16 physical retail locations, two catalogues that were mailed, and a website. It offers goods from about 3,000 well-known firms. The most valuable lesson from Sierra Trading Since showroom visitors enjoy comparing prices, Sierra Trading Post also offers this service on its website. This brand stated the recommended price. Along with these features, Sierra Trading Post offers the following ones to give customers a smooth experience: Order online and pick up in-storeShop online for in-store merchandise.Cart sharedThree or more customer service channelsThe uniformity of prices. Lenskart Source By embracing the new omnichannel trend and attempting to sway the next generation of omnichannel customers, Lenskart is upending the whole Indian eyeglasses industry. Lenskart Retail Omnichannel Takeaway Strategies- It increased its offline presence by opening 250 new stores annually. For internet shoppers to taste the products before making a purchase.To support their omnichannel initiatives, they also developed a 3D virtual trial room that gives customers the impression that they are in a physical store when trying different types of eyewear. Customers can take a selfie using their camera and 3D function to select the glasses that best fit their faces.Their customer can purchase something in a physical store and then return it using any digital storefront (apps, desktop websites, mobile websites, etc.) and vice versa. Pepperfry Source Pepperfry, India's biggest online furniture retailer, is a well-liked destination for mattresses, furniture, lighting, and other products. They effectively use the omnichannel strategy to serve their enormous customer base through online channels and concept-based retail studio shops. Pepperfry Retail Omnichannel Strategies- To boost store traffic and establish various contact points for omnichannel purchasing, Pepperfry built 32 offline franchise stores in 25 cities. This tactic alone raised their conversion rate by 45%.Their franchise locations provide consumers with live video calls, customer assistance, and consultation to establish a close-knit relationship with them.They have integrated augmented reality technology for clients arriving on their websites, including 3D representations, virtual try-on, and product demos. This allowed their clients to picture the products in their own homes. Conclusion Every retailer needs a unique coherence strategy to execute omnichannel successfully. Sensibly and competently administering this system at the back end is just as important as keeping customers happy and content with a flawless experience. As a result, practically all the finest Omnichannel brands chose to work with third parties to improve their business operations. They are the true professionals who can offer merchants the most excellent answer in addition to their enthusiastic support and competent utilisation of the system whenever issues arise. How WareIQ Can Improve Your Omnichannel Fulfillment Strategy To Be A Key Source Of Revenue Generation? Brands of all sizes may benefit from WareIQ's tech-driven fulfillment services to provide top-notch customer experiences across all channels. In addition, WareIQ centralises logistics operations to meet customer expectations with integrated solutions for order and inventory management and quick shipping. With a solid fulfilling network, technological solution, dozens of integrations with top e-commerce platforms, marketplaces, sales, and social media channels, and B2B fulfillment capabilities, WareIQ assists in managing omnichannel fulfillment. All sales channels can easily manage products, orders, clients, and shipping. WareIQ even provides 2-Day Express delivery, which lowers cart abandonment and boosts revenues for direct-to-consumer transactions. A robust order management system is necessary for an omnichannel selling strategy. The following summarises the benefits of having WareIQ handling your omnichannel order management. Sell, Deliver, and Return Anywhere Sales and returns can be more difficult the more significant the company is, and the more inventory is involved. With omnichannel order management, you can sell finished goods and ship them from any location while connecting customers to their purchase histories for an easy shopping experience. You must provide a seamless returns process for consumers who need to return or exchange items, allowing them to do so in-store or through self-service options. Returns may result in short-term financial loss, but if you handle them well, you can quickly establish a returning clientele. Boost Client Satisfaction Customers want to know that your product is available everywhere. The ability to sell, ship, and return goods from any location dramatically increase customer satisfaction when an integrated omnichannel order management workflow is implemented. It also ensures that every sales channel uses the same real-time inventory data to avoid stockouts and backorders. The buying and returning procedure are made as easy and frictionless as feasible by omnichannel order management. Streamline Logistics Processes It is very important to streamline your shipping and logistics process. Our internal logistics processes improve together with the client experience. Managing your order, inventory, and returns is more straightforward when all your orders are integrated into one location. To ensure that orders are filled, shipped, and received fast. So that returns are handled efficiently, omnichannel solutions, from order management to retail fulfilment, enable accurate inventory, order, and return data across channels. Best Omni Channel Retailers FAQs What is retail omnichannel fulfilment?The procedure of picking, packing, and delivering orders as clients place them through various sales channels is known as omnichannel fulfilment retail. These can include physical storefronts, internet marketplaces, and e-commerce sites. Can omnichannel fulfilment lead to an increase in sales?Yes, by reaching customers where they are and giving them options for how to buy and receive your products, omnichannel retail, in general, is a terrific method to boost sales. An effective omnichannel fulfilment process can result in a quick delivery (and even an enjoyable unboxing experience) and, as a result, positive customer contact that increases the likelihood that they will make another purchase from you. What advantages does omnichannel offer?The main advantage of omnichannel selling is the convenience of managing orders from all your sales channels—in-store, online, mobile, social, etc.—in one place. This facilitates data analysis, decreases data entry, promotes visibility, and enhances the client experience. What role does WareIQ play in omnichannel order management?WareIQ's smart fulfillment tech platform provides easy integrations across all the marketplaces, online platforms, ERP/POS, etc where the orders get synced and managed efficiently. WareIQ's pan India fulfillment center network along with partnerships with India's leading shipping companies like Bluedart, Delhivery, DTDC etc. enables omnichannel order fulfillment for all the online and offline brands in India. What is an Omni channel retail business? Give a few examples.Omni-channel retail is a business strategy that provides customers with a seamless shopping experience across multiple channels, such as physical stores, online, mobile, and social media. The goal of an omni-channel strategy is to create a unified experience for customers, regardless of the channel they use to engage with the brand.Examples of companies with an omni-channel retail strategy include:i) Walmart: Offers online shopping, in-store pickup, and delivery options for customers.ii) Target: Allows customers to shop online and pick up in-store, as well as offering curbside pickup options.iii) Nike: Provides customers with a unified shopping experience across their physical stores, e-commerce site, and mobile app.iv) Zara: Offers online shopping, in-store pickup, and a mobile app, as well as a seamless in-store experience.
January 31, 2023
What are Retail Operations? The Ultimate Guide on the Best Practices for Streamlined Retail Operations Management for Online and OffeCommerce fulfillment companyline Retailers in 2023
Whether you sell on various eCommerce marketplaces or through conventional retail stores, retail operations are the motor that keeps your business running consistently. When you sell products to customers with the aim of providing them with a positive experience so you can generate sales and eventually profits, there are multiple processes involved in making sure it all happens smoothly and everything goes according to plan. This is to ensure that highly demanded products are always kept in stock, items can be located easily when an order comes in and products can be packaged and dispatched with ease. When a company’s retail operations are running at their optimum capacity, both the store and its customers benefit, leading to an optimistic sentiment among both parties. In this blog, we will take a look at what retail operations are, the functions they provide, the challenges associated with them, and 8 ways to help you streamline your retail store operations. What are Retail Operations? Retail operations comprise all the processes involved in the day-to-day operations of running a retail business. This includes tasks such as order fulfillment (learn about retail fulfillment), inventory management, adjusting your online store or warehouse layout, accounting, customer support, sales, returns management, and much more. Because retail operations are necessary for the smooth running of a retail business, efforts need to be made to streamline them wherever possible. This could include optimising your storage space so that products can be identified and accessed more efficiently, eliminating various bottlenecks, and ensuring products are packaged and dispatched in a timely manner. Essentially, retail operations commence the moment a purchase is made and a person goes from a lead to a direct customer of the business. All the tasks involved in making sure they get their order and have a good experience is classified as retail operations. [contactus_uth] Key Roles Involved in Retail Operations Management Inventory Management The quantity of goods that are on hand for customers to purchase at a retail establishment is known as inventory. This inventory needs to be constantly monitored and replenished so that items do not go out of stock (It is taken care of under stock replenishment). Conversely, future demand needs to be forecasted accurately to prevent over-ordering of certain products. Inventory management varies between online and offline stores. While online stores generally store their products in fulfillment centers where a vast amount of tasks are automated, physical stores generally rely on staff manually taking care of these procedures. Customer Service While some businesses have separate eCommerce customer service and eCommerce operations teams, many companies mix the two activities. For instance, a lot of people who work in physical retail stores conduct customer service work like guiding consumers to the products they're looking for, while in online stores, this is taken care of by website navigation features or chatbots. A retail operations specialist can also search the inventory supply for specific product models and address consumer concerns, among other customer-specific duties. The customer care representatives who work in the store or corporate office may also be under the direct administration of a retail operations manager. Order Processing Whenever an order comes in, it can either be accepted or rejected by the store, depending on the availability of the item or the capability to deliver it to the desired location. Oftentimes, this is done automatically through various software solutions. However, a company can also have dedicated staff that monitors each order as it comes in and manually makes a decision whether they want to go through with it or not. Order processing should be done instantly so that products can be identified, packaged and dispatched as soon as possible. If not, customers could be left waiting without a confirmation, which will result in them having a poor experience. Payment Acceptance The approved modes of payment are another aspect of retail operations management, as is the way it is handled at checkout. Nowadays, point-of-sale (POS) systems are used by retailers who have physical stores. The good news is that most POS systems will assist with inventory management in addition to processing payments. Standard operating procedures (SOPs) will be used for all aspects of handling cash and credit card payments in order to reduce human error. Managers and supervisors must make sure that all employees are knowledgeable of and skilled in using the company's SOPs. Administrative Tasks Many behind-the-scenes operations are conducted during administrative tasks. Before issues emerge, a store or eCommerce website requires the best upkeep. Every time a customer visits, they must have an efficient and consistent shopping experience. Any negative encounters, such as broken product links or unsuccessful payments, can leave a customer with a terrible impression. Training of the staff must be done to a high standard. There must be consistency in everyday activities, whether it be in the documentation of stock receipts or the management of money. Checklists and training procedures must be used, followed and continuously evaluated. Staff who interact with customers or provide online support must receive service training and be familiar with SOPs. Main Challenges Associated With Retail Store Operations Finding the Appropriate Pricing Both eCommerce and conventional retail are highly competitive industries. In order to capitalize on demand and convert interest into sales, sellers need to identify a pricing niche that their products can successfully fall into. If products are priced too low, you risk reducing your profit margins and if they are priced too high, customers will gravitate towards cheaper alternatives. Therefore, thorough research needs to be conducted in order to determine the pricing strategy that will work best for your business. Providing Tailored Experiences Along with product selection and pricing strategies, the in-house shopping experience is also highly prioritized by consumers. More individualization and customization need to be provided so they can have the best possible experience. Customers demand a customized online shopping experience with pertinent product recommendations and concentrated marketing efforts. However, they also anticipate having more alternatives so they can tailor their purchases to their own specific needs. Retailers must devise strategies to identify and appreciate loyal customers. However, they also need to find ways to make new clients feel valued. The latest personalisation trends must be followed so you can capitalize on providing customers with exactly what they are looking for. Enabling Consistency Across Multiple Channels It goes without saying that capturing a portion of the eCommerce and conventional retail market, ideally through omnichannel retailing, is essential for a retailer to succeed. Those with weak or nonexistent internet exposure will lag behind as more consumers shift their purchasing habits towards eCommerce. Selling across multiple sales channels is desirable for even the smallest firms. Physical retailers who disregard online shoppers do so at their own risk. Numerous retail locations and channels can provide a number of advantages. However, enterprises pursuing this route will also face fresh difficulties. The more channels, procedures and people that are involved in operations, the harder it is to maintain consistency and this can also result in increased prices, errors and mishaps. Retaining Quality Employees Today's workers expect more for their efforts, just like today's customers. The wage range for retail sales workers is usually on the lower end. Because of this, some of the greatest rates of employee turnover is in the retail sector. When employees are engaged, they have an increased likelihood of sticking with a particular company. Everyone has various motivations, but nobody wants to continuously work on monotonous, readily automated chores that don't add any value for a salary they aren’t happy with. Effective involvement can be challenging for management and HR. To increase staffing and employee retention, the appropriate strategies and incentives must be identified. Managing Inventory and Other In-House Tasks Inventory is a critical component of retail operations. It is what enables customers to purchase items from your business so you can break even and start to turn over a profit. However, managing inventory, especially if you sell across multiple channels, can be a hassle and come with a range of challenges. You need to make sure that every SKU is stocked at appropriate quantities based on factors such as demand, seasonal relevance, price, storage space they occupy and much more. If there is a shortage of a product in relation to its demand, it can cause negative sentiment among customers. Conversely, if a product is overstocked, it can lead to increased storage costs and eventual obsolescence. You need to conduct forecasts and ascertain the appropriate amounts of inventory to store during a given time frame. 8 Best Practices to Solve the Challenges and Streamline Your Retail Operations in 2023 Automate Tasks Wherever Possible Source Automating some of your retail operations will optimize your daily administrative tasks, making it simpler to maintain accurate inventory records and assist in guiding future purchasing decisions. While keeping track of inventory using extensive spreadsheets can seem like a tempting prospect, it can soon spiral out of control. It takes time and you run the risk of making business decisions that are poorly informed and subject to blunders. Instead, integrate all of your inventory and point-of-sale systems so that laborious tasks are taken care of. With the use of top-notch software, you can gain access to features like inventory reporting, automated replenishment orders and low-stock notifications. Additionally, when a product is sold, received, or returned, inventory management software reliably syncs your data across channels in real-time. Consolidate Your Online and Offline Selling Efforts Source Before making an online purchase, customers generally prefer to physically inspect the products. Hybrid shopping, which is a combination of online and offline shopping, is the main purchasing method for 27% of customers and 36% of Gen Z, which is more than any other generation and indicates that it will only increase in the future. Despite trends toward increased internet shopping, 72% of customers still use physical stores as their primary means of shopping. Retailers must accommodate client preferences for both online and in-person purchases to ensure they have a positive experience and that all their requirements are met. Streamline Your Inventory Management Procedures Source Managing your inventory in an organised manner can make the difference between the success and failure of your retail operations. It pays to invest in a comprehensive inventory management software that can handle all your inventory-related requirements. Systems for inventory management will assist your company in providing accurate and live inventory updates. They can additionally provide capabilities for efficient demand planning and forecasting. This enables you to identify demand using the relevant data and restock the appropriate products whenever you need to. You can also monitor your financials in real-time if your inventory management and accounting data are integrated into a single system. Optimize Returns Management Source Retailers lose a vast amount of revenue in sales each year as a result of returns. Returns don't necessarily signify the end of the customer's relationship with your company. Instead, refunds present a chance to further comprehend the needs of your clients and give them a flexible solution. Take advantage of the chance to find out more about the precise product details your buyer is looking for. You can also provide customers with the option of getting a gift card in exchange for the returned items so that they can decide to purchase anything else at a later time to entice them to use your business again. Simplify Your Checkout Process Source The rate of online shopping cart abandonment in the retail sector is approximately 76%. Additionally, a drawn-out and challenging checkout procedure is to blame for 18% of all cart abandonments. You can encourage customers to click "purchase" and complete their orders by optimising your checkout procedure. Additionally, for retailers that sell at physical storefronts, using a mobile POS system enables store workers to accept payments anywhere in the store, practically eliminating checkout lines. Customers benefit from a quick checkout process thanks to line-busting techniques by having shortened waiting times, simpler payment procedures and reduced complexity. Learn more about Checkout Page Optimization here. Organise Your Warehouse Layout Source Any online and offline retailer will want to have a well-organized warehouse, whether they are storing a product in-house for long periods of time or providing same-day or next-day delivery. One suggestion is to locate more commonly bought commodities near packing and processing units. Although it might seem obvious, this is frequently ignored. Management should also collaborate with the personnel and supervisors in the warehouse. The business can benefit from employee ideas for time and labour-saving product storage layouts. A tidy, well-maintained stockroom will be beneficial to all enterprises, even the smallest ones, as products can be located, packaged and dispatched faster and more efficiently. Identify and Reward Recurring Customers Source Repeat customers contribute immensely to the success of any business, so your company should monitor who they are and reward them for their patronage. Utilize online account analytics and loyalty programmes to keep track of your customers. Make sure to tailor offers and rewards in accordance with data on each person's purchasing preferences. Use social media, email and SMS to send clients personalised communications about new product launches and promotions. You can also offer them gift cards or discounts for items that they require to show that you appreciate their business. Hasten Your Order Fulfillment Source Customers in today’s retail sector demand speedy delivery of their purchases because of the growth of same-day and next-day delivery from not only eCommerce behemoths like Amazon but also from the majority of companies that seek to be competitive. In order to be on equal footing, your business must offer quick and hassle-free deliveries. Workflows for order processing and fulfillment can be automated to speed up the procedure and minimise human errors. Even if you depend on the postal service, you should try to speed up the process from your side as much as you can. This will enhance customer satisfaction and increase the probability of repeat purchases, and positive feedback and word-of-mouth marketing. Conclusion: How WareIQ can Help Improve Your Retail Operations Retail operations encompass a wide range of activities that are crucial for the success of a retail business. Effective management of inventory, staffing, marketing and customer service can help to increase sales, improve customer satisfaction and ultimately lead to a more profitable business. Therefore, it is imperative that your business puts in the time and effort to analyse, assess and improve all the tasks involved in retail operations so that you can reduce costs, effort and time, and provide your customers with an exemplary experience. If you need assistance with streamlining your retail operations, look no further than WareIQ. WareIQ is an eCommerce fulfillment company that specialises in tasks such as order fulfillment, inventory management, returns management and much more. The company has emerged as one of the fastest-growing options in India and provides its clients with a vast pool of resources and technological solutions to tackle every requirement. Some of our services include: Inventory Management: Our specialized WMS offers real-time alerts and the capacity to automate a number of processes.Fast Order Fulfillment: We provide reliable same-day and next-day shipping alternatives through our partnerships with the largest shipping companies in the world. Product Storage: With our assortment of dark stores and fulfillment facilities available across India, we can hold your products wherever you need them.Personalized Packaging: We provide specialized custom packaging options that can be adjusted to meet your needs.Returns Management: We handle returns and safeguard you from any repercussions that may follow. Retail Operations: FAQs What is the main purpose of retail operations?The main purpose of retail operations is to manage and coordinate the day-to-day activities of a retail business, including inventory management, staffing, marketing and customer service. The goal is to increase sales, improve customer satisfaction and ultimately lead to a more profitable business. What are some key components of retail operations?Some key components of retail operations include:- Inventory management- Staffing- Marketing- Customer service- Order processing How does inventory management impact retail operations?Inventory management plays a crucial role in retail operations as it involves keeping track of products in stock and forecasting future demand. Maintaining an optimal level of inventory is crucial, as having too much can lead to stockpiling and wasted resources, while having too little can result in stockouts and lost sales. Effective inventory management can help to reduce costs, increase efficiency and improve customer satisfaction. What is the importance of customer service in retail operations?Customer service is a vital component of retail operations as it helps to build customer loyalty and increase sales. Providing excellent customer service can help to create a positive shopping experience for customers, which can lead to repeat business and positive word-of-mouth advertising. Additionally, addressing customer complaints and issues in a timely and effective manner can help to maintain customer satisfaction and prevent negative reviews and a bad reputation. How can technology be used to improve retail operations?Technology can be used to improve retail operations in various ways. Some of them are listed below:- Automating inventory management and tracking- Enhancing customer service through chatbots and AI-powered virtual assistants- Improving marketing efforts through data analytics and personalization- Streamlining staffing and payroll processes- Enhancing the in-store shopping experience through digital displays, mobile apps and other digital technologies
January 27, 2023
15 Most Common Mistakes To Avoid When Using Shopify for Your Retail Business in 2023
For those who want to launch their internet business without having any technical knowledge, Shopify is a dream come true. People now find creating, managing, and setting up their eCommerce store simpler. You don't need to learn how to code or pay a high-priced web developer. The finest aspect is that you can start your eCommerce store with a modest investment and a few simple clicks. It is a platform for creating and hosting online shops. It enables you to design one that is appealing, useful, and enjoyable. Additionally, it offers the resources required to launch, manage, and expand your e-commerce firm. There's a catch, however. Even though Shopify is an excellent platform for starting and operating a business, many companies need help to increase their revenues. Do you know why many business owners continue to fail despite having exceptional items and a successful marketing plan? They need to catch up due to widespread Shopify design errors that impact their conversion rates. If you need help meeting your conversion goals as well, it might be time to look more closely at the layout of your website. This post has prepared a list of the most common Shopify mistakes to avoid that would kill your sales. 15 Most Common Mistakes To Avoid When Using Shopify That Would Impact Your Sales in 2023 Neglecting Mobile Optimization Source One of the first errors that brand-new Shopify sellers will make is this one, which is understandable. The Shopify theme editor's desktop view is the default setting and altering your theme there is considerably easier to use. However, the theme of your Shopify site should be optimised for visitors using mobile devices. This is due to the likelihood that more mobile customers than a tablet or desktop users will visit your store. Sales of mobile-related goods have been increasing for a while. Mobile users will already account for 72.9% of all eCommerce sales in 2021. Focusing Mobile Shopping Experience is a must for year 2023. Forgetting to Modify the Checkout Procedure Source Many people fail to customise the checkout procedure while setting up their Shopify sites. Or perhaps they simply didn't realise it was possible! You can upload your store's logo, modify the colours and fonts, and more by going to "Settings" -> "Checkout" and clicking on "Customize Checkout." From there, you can customize your Shopify checkout page's appearance. Making sure that the checkout procedure blends in with the other parts of your Shopify store's design is crucial. If your store's colour scheme is green, white, and black, and your checkout area is blue, white, and black, wouldn't it make your customers feel pretty strange? Make your checkout unique, so it blends in with the rest of your shop. There are many ways in which you can improve your checkout page experience, read here. Not Using Enough Shopify Apps for Value-Addition Source But don't misunderstand me—using Shopify apps is fantastic. It's not as though you should take every app out of your Shopify store. That is also a mistake! Every Shopify store has the capability of locating some Shopify apps that increase sales, improve the store's appearance, or streamline a procedure. Cartloop is one example of a fantastic tool that any Shopify store is able to use. The app will send your visitor's tailored SMS messages in order to retarget their abandoned carts. Each message is absolutely individualised based on what they previously ordered. The fact that apps like Cartloop and many others offer risk-free pricing is fantastic. You only have to pay when you make money using their services; it is initially free. There are also many other apps that are entirely free so browse to find one that's right for you. Ignoring Checkouts That Have Been Abandoned Source Ignoring abandoned checkouts is a bad move. The so-called "warm" or "hot" consumers, who are almost finished making their purchase, are the easiest to convert in the eCommerce purchase funnel. These audiences, as opposed to those who have never heard of your company before, simply require a small prod to make a purchase. Therefore, it makes logical sense to give them a little additional consideration, right? Use email marketing for retargeting that audience. Additionally, compared to email marketing, SMS marketing can help you recover up to 10 times as many abandoned carts. And there is a tonne of more ways to use retargeting. Don't pass up the opportunity to make more revenue from abandoned carts. Compared to cold audiences, retargeting these groups can result in a significantly greater ROI. You Can Also Check: What is Shopping Cart Abandonment? Making Grammatical or Spelling Mistakes Source The last thing a Shopify store owner wants is for their consumers to leave because they can't read what you're saying. You can't afford typos or grammatical mistakes to give your customers a negative experience. A Shopify store that contains grammar or spelling mistakes appears incredibly unprofessional. They will lower client confidence, lower conversion rates and raise bounce rates. Fortunately, Grammarly is a solution. When you use Grammarly, it's as if you have a personal assistant who constantly checks your work for errors in language and spelling. Additionally, if you like, this "helper" will work around the clock for free! The key point is to check for spelling and grammar errors in your Shopify. Use a grammar-checking programme like Grammarly to verify all of your writing. Inappropriate Branding Source One of the most common Shopify mistakes to avoid is incomplete branding. You run a more significant risk of losing potential customers if you leave your branding in fragments. We are aware that no one would enjoy such a sight. To assist you, the following is a list of things to think about: Include a Logo: Your logo represents your company's brand identity. Suppose your Shopify store doesn't have a logo. Even after a grand opening, it won't leave a distinctive mark on customers. To promote your store online, you need a professionally created brand logo.Be Consistent With Your Theme Color: Let's face it, nobody loves to browse an online store with various coloured themes. Diverse colour consistency frequently confuses and fails to make an impression on visitors. Use two-colour themes or a maximum of three colours. Avoid using solid colours and, instead, aim to create contrast.Use One Font: With so many typefaces available, choosing the one that best showcases your store might be challenging. Additionally, having multiple fonts reduces a website's engagement. Choose a typeface from a list of two to three best suits your store. If you're concerned about achieving various aesthetics, using capitalization, letter spacing, boldness, and regular options will help. Lack of a Sound Marketing Strategy Source One of the common Shopify mistakes to avoid is needing a proper marketing strategy. A solid marketing strategy is the foundation of your online business on Shopify stores. Knowing your future target market and all of your objectives (both short-term and long-term) are just a few benefits of having a pre-determined marketing strategy. Most significantly, having a solid marketing strategy is equivalent to planning how to scale your business operations. Need help with the choices you should make for your marketing plan? The following are some guidelines to include in your strategy: Brand positioning and USPTarget marketCurrent status and upcoming goalsCommercial strategies Remember to include a "customer view" when establishing your marketing strategy or how your target market will view your brand. Not Being Aware of Your Ideal Client Source One of the common Shopify mistakes to avoid is not knowing your target audience. If you don't know who your target clients are, you will surely sell your goods or services, but you cannot create a lasting influence. Finding your "ideal customer" is similar to contacting a specific end-user target who is more likely to use your goods or services. Additionally, when you are aware of your ideal client, it is simple to develop a buyer's persona and focus your advertising efforts on just that particular user group, saving you money on marketing expenditures and other financial investments. Your goods will sell more effectively the more you comprehend your customer. So once you have identified your target clients, consider categorizing them using various criteria. Low-Quality Product Images Source What even is an online store with absent high-resolution pictures? In contrast to a physical store, an eCommerce business does not allow customers to touch, feel, hold, or try on the product. Therefore, your website's photographs must be adequate to give customers a good picture of the product. Your eCommerce store's conversion rates may be fatally affected if you upload blurry, low-quality photographs. Suppose the pictures could be more beautiful and clear. In that instance, it will be challenging for the customer to decide whether or not the product lives up to his expectations. On your website, always post excellent, high-resolution photographs. Additionally, share product images taken from multiple perspectives to offer clients a better understanding of things. Take pictures with appropriate lighting and backgrounds that are relatively quiet. If taking pictures isn't your thing, engage a product photographer to create eye-catching images for your website. Poor product descriptions can also harm your website design and low-quality photographs, which is one of the common Shopify mistakes to avoid. Product Descriptions That are Incomplete and Inappropriate Source On the website, images represent the products. In the eCommerce store, product descriptions act as sales representatives. Your customer may click the "purchase now" button after reading an engaging product description. However, many store owners need to pay more attention to the significance of accurate product descriptions. They utilize the product copy supplied by producers rather than writing their unique and persuasive version. Images provide information on the product's appearance and colours. In addition, meaningful information about a product's weight, size, texture, and advantages is highlighted in the description. While writing a copy, talk cordially and informally. Avoid using words that are technical or sophisticated. Refrain from relying on the producers' or suppliers' descriptions. They are monotonous and lifeless, and hundreds of other store owners also utilize them. Describe each detail of the product. Use headings and bullet points to make the text easier to read. To increase SEO, use primary keywords in your description. This is one of the common Shopify mistakes to avoid. Landing Pages That Aren't Optimised For Conversion Source One of the common Shopify mistakes to avoid is not optimising your landing pages for conversion. You are prepared for conversions that may take place across several channels when you optimise your landing pages for conversion. For instance, you can get the same outcomes by tweaking a few website features, using customer ratings and feedback elements, or utilising customer reviews and feedback. Or, try the following examples: Give your clients a clear offer that aligns with their objectives to make them feel valued.Try to utilise contrasting colours on your landing page so that the CTA will stand out when a user is perusing the page. Keep Your Shopify Site SEO-friendly Source Failure to optimize websites for search is one of the common Shopify mistakes to avoid by online business owners. Some new Shopify users think traffic will come to their store naturally after it is set up and loaded with goods. There is no truth to this, and it is a fallacy. There are one hundred additional Shopify stores that sell identical products to you for every one you sell. You must ensure all of your stores are adequately optimized for search if you want to boost foot traffic, set yourself out from the competition, and maintain an advantage. You must make sure that every aspect of your store is SEO-optimized if you want to maximize it. This entails speeding up Shopify websites and optimizing their pages, as well as their product pages, images, meta descriptions, and product descriptions. Shopify speed optimization is one of the major aspect of SEO. Neglecting PPC Advertisements Source Even for smaller organizations, PPC (Pay Per Click) ads open the door to additional leads and conversions. However, many people frequently underrate the influence and strength that PPC advertisements provide. Additionally, they often need to pay more attention to the time and effort required to run effective PPC ads. One of the common Shopify mistakes to avoid is not treating PPC ads seriously. The following are the advantages that the campaign style offers: Start small, evaluate your ROI, and then increase your investment amounts.PPC campaigns that are strategically organized can significantly lower your costs per click.You can only invest in keywords that will generate leads.Compared to alternatives like organic SEO, it creates visitors and leads more quickly.It's excellent for A/B testing, and you can stop using it whenever you want if you don't notice results. Having stated that, it must be acknowledged that creating PPC ad campaigns requires sophisticated comprehension. For those just getting started with Shopify, some tools enable PPC campaigns like the always-popular Google Ads and Google Shopping ads to be integrated with the platform. Additionally, you can take control of the process using third-party tools, leaving the grunt work to professionals in the field who have experience setting up your store for success. Prioritizing Desktop Customers Source It's simple to get carried away with desktop view optimization and forget that most of your website's traffic will be mobile users. It will help if you exercise extreme caution to prevent making this mistake. Do you understand the reason? Mobile devices account for 52% of retail visits and orders. Therefore, you would be doing great harm by not making your website mobile-friendly for successful retail operations. To prevent site distortions on any device, use Shopify apps that work on desktop and mobile platforms. For example, use flexible photos and maintain proportion across desktop and mobile platforms. Finally, make an effort to give visitors using mobile devices a customized surfing experience on your website. This is how you can increase traffic to your website by avoiding the mistakes Shopify owners make. Complicated Payment Process Source Cart abandonment is one of the common Shopify mistakes to avoid; according to Shopify, a challenging checkout process may lead to customers leaving their shopping carts empty. Does your Shopify store's payment process provide any difficulties for you? It needs to be fixed right away! Thus it will discourage customers from making purchases from you. To start with a straightforward and adaptable payment procedure, the following actions must be taken: Minimize the number taken by the consumer during the checkout process.Obtain the necessary information, but discard the "less important" information.Test any modifications to a payment processor to determine whether they are helpful or harmful.Rearrange the payment process so that creating an account happens last. You should also check: Shopify Alternatives: Reasons to Look Out For Alternatives to Shopify Conclusion: How WareIQ Can Help in Streamlining Your Shopify Store's Fulfillment Operations? Opening an eCommerce online store has limitless potential. Although it is a worthwhile and thrilling endeavour, risks are always involved. It is essential to be aware of any hazards to reduce the likelihood of your new store's success. Be intelligent and well-prepared to prosper from the start of your business journey, and avoid these common mistakes when using Shopify so you can maximise your success. If you need an eCommerce fulfillment provider that can help streamline your fulfillment processes, WareIQ can be the option for you. Y-combinator-backed firm WareIQ, founded in 2019, has grown swiftly to become the leading provider of full-stack eCommerce fulfillment solutions for some of the most well-known firms in India. For eCommerce businesses, WareIQ provides a full-stack platform that enables same-day and next-day delivery to customers — an Amazon Prime-like experience open to everybody. In addition, because there are no minimum order number constraints, eCommerce businesses with low order volumes can benefit from same-day and next-day delivery trends. Additionally, the onboarding procedure is quick and easy, and the price structure is transparent and simple to understand. To reduce the risk exposure for WareIQ customers, WareIQ also takes strong safety measures at its facilities and fully controls all its activities. Also, read here How to Find Fulfillment Services for Shopify. [signup] Also Read: How to Sell on Shopify When Product is Out-of-Stock? Common Mistakes to Avoid When Using Shopify: Frequently Asked Questions Why do Shopify stores fail to attract customers but generate no sales?Your Shopify store may have difficult navigation if you get traffic but no sales. It discourages conversion by confusing and overwhelming visitors. Typical warning indicators of difficult Shopify store navigation are a large menu with over ten sections on the main menu. What are the common mistakes to avoid when using ShopifyHere are a few common Shopify mistakes to avoid that merchants might make when using Shopify:- Not Setting Up Payment Methods: It's important to set up payment methods in your Shopify store so customers can purchase your products. If you don't have payment methods set up, customers won't be able to complete their purchases.- Not Optimizing Product Pages: Product pages are a key part of your online store. Make sure to include high-quality product images, detailed product descriptions, and accurate pricing information to give customers a great shopping experience.- Not Using Email Marketing: Email marketing is a powerful tool for driving sales and engagement with your store. Set up email marketing campaigns and send newsletters to your customers to keep them informed about new products and sales. How to streamline your selling experience on Shopify?Here are a few tips to ensure your Shopify store's success:- Set Up Your Store Properly: Before you start selling, set up your store properly. This includes configuring your payment methods, setting up your shipping rates and policies, and adding high-quality product images and descriptions.- Test Your Store and Check for Errors: Before going live, test your store to ensure everything is working properly. Check for spelling mistakes or broken links, and test the checkout process to ensure it's smooth and error-free.- Keep Your Store and Products Up to Date: Make sure to keep your store and products updated with the latest information. This includes updating your product images and descriptions and your store's branding and design. What is the reason behind the failure of many Shopify stores?Shopify stores can fail due to any of the one or multiple reasons listed below:i) Lack of a distinct value proposition: Shopify stores will have trouble attracting and retaining clients if its services and products aren't differentiated or if they don't stand out in the marketii) Poor website design: A store's website may lose clients if the website is not aesthetically pleasing or doesn't have an easy user interface (UI/UX)iii) Lack of marketing: Without a solid marketing strategy, it may be challenging for a business to promote its goods and gain customersiv) Limited product selection: A store that sells a small number of items may find it difficult to draw in and keep a broad consumer basev) Poor customer service: A store may find it difficult to keep consumers if it does not have a system in place for responding to client problems or complaints in a timely and satisfactory mannervi) Inability to tackle competition: It may be challenging for a store to stand out and draw customers if it is competing in a crowded market with many other comparable storesvii) Poor inventory management: Online Shopify stores are often plagued with issues like out-of-stock and overstocking situations that ultimately affect the revenue and bottom line of the businessviii) Fulfillment and Shipping Issues: It's difficult to focus on your primary business when you are still following self fulfillment model for managing operations. Issues like inefficient warehouse operations, misplaced orders, long delivery timelines, bad post-purchase experience, etc. start coming up if the operations are not outsourced to a 3PL fulfillment partner.
January 05, 2023