Tips for eCommerce Sellers

How To Sell On Myntra? Step By Step Guide To Become A Myntra Seller in 2024

How To Sell On Myntra? Step By Step Guide To Become A Myntra Seller in 2024

Myntra is one of India's most profitable e-commerce sites. Being able to sell on Myntra is a fantastic opportunity for any business. Myntra has expanded from offering customized gift products in 2007 to presenting more than 500 Indian and international companies in 2024. Myntra features over 1000 companies and sells over 150,000 goods. Myntra is currently owned by Walmart's Flipkart in India. India is the world's second-largest internet user, with 700 million internet users in a population of 1.4 billion people. Regular internet users make up 87 percent of the total user base. This means that things for online enterprises are only getting better. Myntra, unlike other e-commerce platforms, does not recognize every private label that sells low-quality products. As the platform is limited to branded items, to become a Myntra seller, the vendor should transform the small business into a brand. When you compare Myntra to any other fashion e-commerce platform, you will see that Myntra exclusively promotes selected brands, whilst other platforms register any local selling vendors. Myntra displays your products alongside popular brands that are exclusive to the platform once you register your business. As appealing as a Myntra registration may appear, registering a business on the site is not easy, it takes a fair amount of effort to sell on Myntra. It is for the same reason that scams and low-quality products/businesses are kept off the platform: Before permitting a firm to use the site, Myntra goes through a rigorous screening process before you can start to sell on Myntra. So here is a guide for you to know how to sell products on Myntra. Introduction to Myntra Online Seller Portal Myntra is an online selling platform where retailers can sell their items on the website. It offers an advantageous way for retailers to deal with their items, make postings, and get orders from buyers. Assuming you have a product and are thinking to start to sell on Myntra online portal, you'll have to set up your account and list your products to become a Myntra seller. When you've done that, you can begin with getting orders from buyers and start to sell on Myntra. You can also utilize the seller portal to deal with your stock, and track your business details, from there, the sky is the limit. There are a couple of key advantages to selling on Myntra. In the first place, it's an extremely aggressive commercial center with fierce opposition. This intends that there is potential to make a reasonable amount of revenue assuming you set forth the energy. Also, Myntra offers a simple way for retailers to deal with their items and get orders from buyers. This makes it an ideal stage for independent companies and business visionaries who need to begin selling their items on Myntra. At last, Myntra has high consumer loyalty rates, which is reasonable because of its advantageous stage and cutthroat costs. Venders can likewise utilize Myntra's delivery apparatuses to ascertain transporting costs and get jiomart orders for potential buyers. At long last, Myntra provides online tools to buyers to find items that they're keen on buying and review merchants' reviews before making a buy. Myntra supports and provides great website traffic on its portal for people who want to become a Myntra seller. [contactus_uth] Why Choose to Become a Myntra Seller? Myntra is one of the biggest online business platforms having expertise casually and fashionably of life. Based in Bangalore, Karnataka. Myntra is an online commercial center for the Indian crowd. In this article, you will figure out how to sell on Myntra as a vendor and for that you should know how to register yourself and list products on Myntra. This brings us to an important question- Is it profitable to sell on Myntra? Myntra is an online internet business commercial center that sells local and global brands with month-to-month website traffic of around 92 million, as of November 2022 (as per SEMRUSH Stats). It has turned into a significant advertising channel for every one of the brands that work in the design and way of life areas. Is there a Myntra seller fees charged? There is no dealer commission to enroll on Myntra. Myntra charges a proper commission of 4% to 5%, contingent upon the classification of the item. Myntra committed account directors to give definite data about this classification and illuminate you about the various kinds of advancements you can use to draw in expected clients. After the registration and enlistment of products, you can sell on Myntra and access different assets for your business development. Advantages of Selling Products On The Myntra Seller Portal in 2024 As a Myntra vendor, you should get aware of the several compelling reasons for shops to flock to Myntra and establish a significant presence in the online marketplace. Myntra retailers have complete control over their merchandise once authorized. Companies can handle orders, online sales, catalogs, merchandise quantities, and product quality. When sellers start to sell on Myntra, they experience many advantages of selling on this platform. Some of them are mentioned below. Myntra's Internet Presence Reaches A Significant Number of People. Myntra's management has always believed that having an online presence is essential for connecting with customers on a personal level. As a result, they provide a diverse range of products from leading companies, and their user-friendly website makes it simple for clients to find what they're looking for. In India, Myntra's marketplace reach is extensive. It is offered to all types of customers who are eager to purchase things in a variety of pricing ranges. With so many people visiting their website, it's no surprise that their items are constantly rated among the best on the market. If you want to sell on Myntra successfully, start by establishing a strong presence on Myntra. It will assist you in connecting with more potential clients and increasing revenue. When you use third-party platforms, you can save money on marketing charges. Myntra marketplace receives millions of visitors each day and has a consistent user base, and you don't have to worry about the payment gateway as well.  Myntra receives millions of visitors each day and has a consistent user base, and you don't have to worry about the payment gateway as well. WareIQ also provides packaging materials, facilitating packaging and shipping easier for online vendors. Myntra Provides a Diverse Range of Products Myntra is India's largest eCommerce company, with over 6 million consumers. Products one can sell on Myntra range from apparel to appliances Many Indian vendors have listed their businesses and items to gain more attention and reach a broader audience. Myntra is a shopping website that sells a variety of products for men, women, and children. Clothing, accessories, and footwear are all available. Myntra also has a sale area with fantastic deals on clothing, footwear, and accessories. Myntra Gives Excellent Customer Service Myntra offers excellent customer service to those who sell on Myntra as well as their consumers. Their team is ready 24 hours a day, 7 days a week to assist you with your issues and queries. Furthermore, they have a well-organized return policy in place that allows you to easily get your money back if the thing you purchased does not fulfill your expectations Overall, Myntra is a trustworthy online shopping platform with excellent customer care. Myntra Items are Competitively Priced Myntra provides competitively priced products at savings of up to 50% off standard rates. Users can filter products by category, size, color, and brand using the app. Dynamic pricing is critical in boosting sales on online marketplaces. A slew of firms offering analytics services assist marketplaces and those who sell on Myntra in updating their prices by constantly watching market demand and supply as they strive to sell enormous volumes. Offering competitive prices and keeping good metrics assist online retailers in capturing the "buy-box," or conspicuous placement at the top of the category page. On peak sale days, vendors that do an average of a couple of crores in businesses hire the least people to adjust the prices on the marketplace. Myntra Offers Discounted Deals and Also Easy Returns on Goods The vendor who sells on Myntra also provides discounted deals on products so that consumers can purchase them. Discounts and promotions are available on a variety of products and categories. Users must scan the barcode of the goods they wish to purchase and then navigate to the 'Myntra Deals' tab on the product page. They will then be able to see all of the available discounts and promotions. Myntra has simple return and exchange policies. You can return the product for a full refund or exchange it for something else within 14 days of getting it. Furthermore, if you are not happy with your purchase, you have the option of receiving a refund or an exchange within 30 days of making your purchase.  Understand Seller Profile- To Become a Myntra Seller With the number of vendors on Myntra increasing at an exponential rate, it became difficult to treat all merchants fairly and incentivize their success. As a result, on August 29, 2019, they launched the Marketplace Partner Tiering Program effort to fuel seller growth and improve user and seller experiences. Moreover, Myntra seller registration is a very easy & hassle-free process. The Marketplace Partner Tiering program's goal is to improve and maintain partners' performance on business-critical criteria like sales, reliability, and quality by assuring a positive customer experience. The program enables sellers of various sizes and tenures to drive their Myntra growth by concentrating on their performance and is divided into three tiers: gold, silver, and bronze. The Marketplace Partner Tiering program is ongoing and will be renewed every quarter in the first week of the first month, based on the partner's performance in the preceding quarter. Gold is the highest category, and to earn it, a partner must constantly maintain good metrics. All sellers begin to sell on Myntra as bronze vendors and can advance to the silver and gold tiers based on their success. 6 Easy Steps of the Onboarding Process to Become a Myntra Seller in 2024 Myntra is a popular eCommerce shopping platform in India. If you are serious about selling on Myntra India, there are numerous options for eCommerce enthusiasts and online merchants to grow their businesses. Myntra Seller Fees Depending on the brand and category of the goods, Myntra charges a flat commission of between 4 and 5 percent. This commission fluctuates for a number of reasons. For products in the high-value and low-price categories, Myntra levies lower prices. You can go straight to the Myntra seller central website for Myntra seller registration online and enter your business information to begin selling your products in the Myntra seller central dashboard. The steps required to become a Myntra seller are given below- Step 1- Fill up the Myntra seller registration form with all of your company's information. Step 2- Enter business information such as GST number, PAN number, Bank account details, business address, email address, phone number, and so on. These details will be used to generate tax invoices for clients and the marketplace. After registering, you must set up your store by selecting a theme and a location. After you've built the store, you'll need to build a listing, which we'll go through later in the post. This will comprise the URL of your store, the title of your product, its price, and the number of units available for purchase. You will also need to market your store on social media platforms, such as Facebook and Instagram, and also through online search ads. Step 3- Select the product category you want to sell on Myntra. You should conduct additional research on the product you intend to offer on Myntra.  Step 4- Enter product information and begin product listing. You must decide on a selling price. Create an eye-catching and useful listing for all customers. Finally, enter information about each item, such as its price and description, into the product list. You're ready to sell on Myntra, once you've finished these steps! To increase your visibility and sales in the marketplace, you must include as much information as possible. There are numerous resources accessible on the internet that can assist you in attracting customers to your listings. It is critical to conduct research before selling on Myntra. Know what the product you're selling has to offer, and make sure to highlight all of its features and benefits. You should also ensure that you have reliable information about sizing, colors, and other characteristics. Step 5- Determine how you want the merchandise shipped. You can use third-party logistics to get your product to clients. Choose a shipping rate based on the size and weight of all of your purchases. Step 6- To begin receiving orders from the marketplace, you must conduct a promotion and advertising campaign. Use social media and other internet methods to publicize your listing. You can also provide free delivery and easy returns. To know more, as to which business structure you need to register your business on Myntra, and start to sell on Myntra. How Does Myntra Measure Your Sales Performance After initiating to sell on Myntra, always keep in mind the KPIs that Myntra analyses for you to sell on Myntra. Evaluation of seller's performance is done using these inspection criteria that they have developed- Gross Merchandise Value (GMV) Myntra pushes for maximum sales. Myntra uses the Gross Merchandise Value (GMV) of vendors to assess their success. It is the total value of products sold to clients by a vendor over a specific period, excluding returns and canceled purchases. Seller Cancellations Myntra anticipates a minimal number of order cancellations from its sellers. So, this performance indicator indicates any cancellation initiated by the seller, i.e. when the seller lacks sufficient inventory or is unable to fulfill a specific transaction for whatever reason, the seller must cancel the order Cancellations caused by Myntra, on the other hand, would not be considered in this measure. Adherence to Inventory SLAs This metric only applies to vendors who do not handle their order fulfillment, i.e. Myntra handles their order fulfillment. Myntra does not want any issues to cause order delays or client cancellations. So, to avoid scenarios that can cause a product to be out of stock (OOS) owing to a delay in delivery, Myntra expects merchants to obtain inventory within a specific time frame. Adherence to Delivery SLAs This indicator applies exclusively to merchants who conduct order fulfillment in-house or outsource order fulfillment to a 3PL (third-party logistics) provider. Because Myntra wants its merchants to fulfill orders quickly, it has created tough standards that sellers must follow. All orders indicated as ready-to-dispatch on time are included in the dispatch SLA. Returns Myntra anticipates low order returns. Myntra considers any orders that were returned (or reimbursed) by the consumer that the seller could control for this purpose, excluding try goods, purchase goods and product quality returns. Quality of Product When it comes to product quality, Myntra has high expectations. Myntra takes into account any orders that were returned due to quality difficulties, such as defective products, fabric quality, faded products, used products, worn-out products, stitching flaws, and so on. How to Become a Gold Seller on Myntra After you start to sell on Myntra, always aspire to become a gold-tier seller. For that you must achieve the following performance criteria: GMV (gross merchandise value): Traders who sell on Myntra should have a monthly GMV of at least INR 25 lakhs.Seller Cancellations: Traders who sell on Myntra should cancel fewer than 0.11 percent.Observance of Inventory SLA: Traders who sell on Myntra should have a procurement rate of more than 85 percent from April 1st to September 30th of any given year, and from October 1st of the same year, sellers should have a procurement rate of more than or equal to 90 percent.Observance of RTD SLA: Traders who sell on Myntra should have a Ready to Dispatch rate greater than or equivalent to 90%. Guide To Improve Performance Criteria Every Vendor who sells on Myntra aspires to be a Gold Seller on the platform. In comparison to the other grades, Myntra's Gold tier provides several perks. The challenge now is how to enhance your performance so that you may become a Myntra seller with Gold Tier status, and how to keep your Myntra Gold Tier status if you currently have it. You can achieve the gold tier by focusing on improving on KPIs mentioned below. Increase Gross Merchandise Value A vendor who sells on Myntra must have a monthly GMV of at least INR 25 lakhs. To sell on Myntra and obtain that figure of sales, the seller must look into the facts mentioned below  Offer Free Shipping Customers who do not have to pay for delivery are a popular alternative for online purchasing. Customers that are price sensitive and want a clear pricing structure would appreciate the free shipping. Upsell and Cross-Selling of Products Upselling is a sales tactic that involves selling a better, more costly version of a product that a client already possesses (or just bought). Meanwhile, cross-selling refers to offering items that are similar to those that a consumer already owns You may upsell items by offering larger sizes, adding additional features, or improving performance. If a consumer desires 4GB RAM for their computers, upsell them to 16GB RAM, with a limited-time offer and a somewhat higher cost than their prior option. On your product pages, you may include an "often bought with this item" or "who bought this" area for cross-selling. Add Bundles When you bundle complementary products into a collection of things that can be purchased together at a discount or at a lower price than when purchased separately, this is known as product bundling. As an upsell or cross-sell, you might group goods. Alternatively, you may design a one-of-a-kind product bundle in a gift box or with bespoke wrapping. Discounted Deals Discounting is a marketing tactic that encourages customers to buy more and in larger quantities at a reduced price. This is especially helpful if you're selling things that are generally purchased in bulk. You may also utilize free presents or free merchandise to reward clients who spend more money in your shop. Quality Customer Service Approximately 95% of customers feel that customer service is vital in their brand selection and loyalty. Furthermore, 80 percent of customers value a company's experience as much as its products. When you take the time to address clients' inquiries on social media and live chat, you develop trust and make them feel comfortable purchasing from you. Return requests can be converted into new sales if you are diligent in managing them. Instead of requesting a refund, your buyer may be content with an exchange. This boosts brand confidence and encourages people to return to your store. After all, keeping a current client is five times less expensive than obtaining a new one. Lower Order Cancellation Ratio The vendor who sells on Myntra must have seller cancellations of fewer than 0.11 percent. To sell on Myntra and maintain lesser cancellations, the seller must look into the facts mentioned below  Make Information Easily Accessible The client of the twenty-first century is well-informed. Most shoppers do their leg work before making a purchase and most of the buyers abandon the purchase due to a lack of information.  Providing precise information such as product characteristics, usefulness, and the price will help to decrease cancellations and returns. Enabling easy access to help agents can also inspire consumers to call out for information that they cannot obtain elsewhere. Agents at call center outsourcing businesses may capitalize on cross-selling and upselling possibilities by assisting clients in locating items that meet their specific requirements. Prioritize Transparency Transparency with your consumers about product or service performance, availability, or order tracking can help decrease cancellations. Transparency may also be improved with a clear and efficient communication strategy. It is well established that providing 24/7 customer assistance through customer service outsourcing has a favorable impact. Use Technology Wisely Technology may be a game-changer for e-commerce companies. Using technology wisely while managing inventories or connecting with consumers may improve customer experience and reduce mid-purchase dropouts. Advanced programs and inventory management software, for example, can give up-to-date product listings. This can help to decrease order cancellations due to delays. Technology can also be used to facilitate quick communication, such as with chatbots. Check High-Value COD Orders When transporting high-value cash-on-delivery goods, an unavailable consumer might pose significant logistical and financial challenges for your company. Before fulfilling a COD order, it is usually preferable to confirm the customer's availability. This can help you avoid last-minute cancellations and save you money. Check High-Value COD Orders Find the Right Fulfillment Partners For successful product distribution, an e-commerce firm must rely on several partners. A diverse set of stakeholders influences customer experience, ranging from logistical partnerships to contact center outsourcing firms. This is why it is critical to select the correct partners to build a trustworthy experience chain for your clients and avoid cancellations due to discontent Minimize Returns Vendors who sell on Myntra must maintain the least returns as much as possible. To sell on Myntra and maintain returns, the seller must look into the facts mentioned below  360-degree product images To sell on Myntra or any eCommerce fulfillment platform differs from selling in a traditional retail store. In a retail store, customers may visually check and judge the quality of things. E-commerce platforms, on the other hand, provide relatively few visual indications to buyers about the goods they are about to purchase. Sellers must overcome that gap with outstanding product photography. Providing your consumers with a 360-degree picture of the goods is the most effective strategy to reduce returns. Don't overlook important visual information so the buyer knows exactly what they're getting. In-depth Product Description If there are any aspects that a photo cannot convey, make sure you mention them in your product description. A thorough product description is essential for decreasing Myntra returns since it reduces the amount of misled purchases. A good description can inform clients about the product's intricacies, such as measurements, color options, and materials utilized to create it. Consumer who understands exactly what they're getting is less likely to return the product once it's been delivered. Make sure to include crucial facts in your product title so that clients can easily find the content. Use product videos Videos are fantastic marketing tools. Because you won't be able to make a sales pitch in person, make sure your product video fills that need. A product video can assist clients in better comprehending the product and making an educated buying decision. It condenses your product photos and descriptions into an easily digestible visual bundle, filling the visual and sensory gap that usually bothers online customers. Keep in mind that you may only upload videos and additional visual material if you are a Myntra-registered brand. Outstanding packing The online shopping experience of a client does not end after a product is purchased. Packaging can help you increase sales significantly. Packaging is more than simply understanding how to pack a product; it is also about ensuring that the proper items are packed in the first place. Always double-check your orders to verify that clients receive the merchandise they requested. Shipping and delivery on schedule Customers have deadlines as well. Their purchase may be a birthday present, therefore waiting for the thing is out of the question. When you get an order, make certain that the product is sent on time, every time. While there are often logistical issues that are beyond the seller's control, it is within your ability to ship orders as quickly as feasible. If the order is late, there is always the possibility that the merchandise may be returned, resulting in an unnecessary blemish on your seller record Ensure timely customer service Because of Myntra's customer-friendly return policies, sellers have few options as a vendor if a product is returned. Returned goods, on the other hand, provide a chance for a seller to learn from their mistakes. Vendors must resolve customer complaints in real time and provide a channel for customers to report their issues. A fast answer might help to alleviate a customer's concerns and boost their trust in your business. A positive customer experience frequently results in more purchases and a reduced return rate. Make use of feedback and client reviews Customer feedback and reviews are critical for enhancing your service and products, therefore keep a watch on customer comments and reviews at all times. To reduce your return rates, try to figure out why your product was returned and work to solve the problem. It is also never a bad idea to contact the buyer personally. If a consumer has requested a refund, get in touch to explore what can be done and how this scenario may be prevented in the future. Direct and honest communication is frequently all that is required to guarantee that the customer does not post bad feedback about the vendor. You may take this a step further by asking your clients to complete a brief multiple-choice survey to better identify and address underlying issues. Improve Procurement SLAs Plan your inventory replenishment to avoid running out of inventory while keeping in mind the typical time it takes to send the product to the eCommerce fulfillment center.You must have a certain quantity of items in stock in your storage facility at all times, i.e. standard level inventory.When inventory falls below the normal level, you must order more inventory, also known as the reordering level.Keep an emergency supply on hand. Improve Ready to Dispatch (RTD) SLAs Create product listings for the goods that, based on your order processing capabilities, you will be able to ship by or before the scheduled ship date.Ship the orders and confirm the shipping with Myntra by the order's scheduled ship date.Pack your orders and designate them as ready to dispatch (RTD) on a first-come, first-served basis. Regularly review your order fulfillment operations to detect and rectify any inefficiencies that may result in late dispatch.Increase your ability to handle orders during flash sales and other promotional events. How can WareIQ Assist You to Sell on Myntra in 2024?  Working with a tech giant like WareIQ will help you sell on Myntra as Gold Tier Seller. Let's look at how: Meet all SLAs to guarantee shipment adherence and avoid seller cancellations. WareIQ's SLA-driven and streamlined pick and pack solution allows you to pack Myntra orders on time and label them as 'ready to dispatch.' Sellers can minimize late shipping and cancellations by meticulously processing orders while keeping SLA in mind. Read how the pick and pack fulfillment process works. With Correct Inventory Relay, you can avoid seller cancellation Every 5 minutes, WareIQ syncs your inventory across all sales channels, allowing you to convey precise inventory levels on every marketplace and avoid cancellations. How do we assist in reducing seller cancellation?  You only get requests for inventory that you have by relaying precise inventory levels. Check out Warehousing and Fulfillment at WareIQ and read about warehouse management. WareIQ's Inventory Planning Increase your Gross Merchandise Value(GMV) by offering product bundles You may utilize strong merchandising strategies like product kitting with WareIQ to package many goods together. This allows you to maximize product visibility and give clients interesting incentives. How do we assist? It allows you to increase sales by boosting a purchase's average order value (AOV). Discover how kitting may be an effective revenue-boosting strategy.  Fulfillment is frictionless during flash sales and other promotional events. WareIQ network supports flash sales by coping with exponential increases in order volume and integrating its broad fulfillment infrastructure with well-organized workflows. Simply tell WareIQ of the sale's schedule and duration, and WareIQ will raise your daily pick capacity and provide enough labor. How do we assist in frictionless eCommerce fulfillment? It enables you to improve sales, enhance income, and assure uninterrupted order fulfillment. Check out our crucial guide on organizing a flash sale. Eliminate seller-controllable returns and product quality returns, ensure accurate order processing and quality inspections WareIQ performs quality checks throughout inventory receipt and order processing to ensure that your customers receive the proper items. If you have one-of-a-kind items that need to be thoroughly investigated, WareIQ allows you to tailor the inspection criteria to your exact requirements. How does it assist? It enables you to provide the correct items with remarkable order accuracy while efficiently handling returns management. You May Also Like: How to sell on Instagram? Conclusion While many merchants believe that selling on Myntra is a no-brainer, it is dependent on the type of your items, company goals, and eCommerce fulfillment service requirements. To become a Myntra seller, we may provide your company with the push and exposure it requires to maintain continuous development. Retailers, on the other hand, would have to evaluate the benefits against the drawbacks. If you do decide to sell on Myntra and want to keep some of your flexibility, you can always hire a third-party fulfillment firm like WareIQ to handle all of your needs. You may concentrate on the heavy lifting while we handle the rest. WareIQ is one of India's leading and fastest-growing full-stack eCommerce fulfillment companies, providing everything from same-day and next-day delivery, shipping badges, and RTO Shield to cutting-edge technological solutions like our custom Warehouse Management System (WMS) and user-friendly app store. With that it offers seamless integrations with more than 20 online selling platforms including Snapdeal, Amazon, Meesho, Flipkart, and much more. We can handle all of your brand's fulfillment needs, ensuring that you and your customers receive the finest order fulfillment in the country, a hassle-free experience, and increased customer happiness. [signup] How to Sell on Myntra FAQs What is the process to register and sell on Myntra?To sell on Myntra, you must first register a seller account on their website before filling out a simple form with your personal and business details. How can I create a Myntra seller account?If you want to sell on Myntra and want to open a Myntra seller account, you must first create a Myntra Partner Portal account. You may create a Myntra seller account from within the Partner Portal once you have registered a Partner Portal account. What type of products to sell on Myntra?All kinds of Clothing and accessories, Bags, Footwear, Self-care Products, and Jewellery are the best categories of products that vendors sell on Myntra. Is it profitable to sell on Myntra?Yes, it is advantageous and profitable to sell on Myntra. Before you begin to sell on Myntra, you should be well informed of the company's selling policies. How do I sell on Myntra if I don't have a GST number?If you wish to sell on Myntra without a GST number, you may only offer non-taxable items. These items do not require a GST number to be sold online. Is it possible for any individual to become a myntra seller?Only a business entity, not a person, is permitted to sell on Myntra. As a result, to become a Myntra seller, the applicant must own a legally recognized firm. How can I sell on Myntra and become a gold seller?If you wish to sell on Myntra and aspire to become a gold tier seller, you should follow policies strictly to sell on Myntra and stick to SLAs to gain access to the gold tier. You also need to maintain specific return rates and quality as per rules to sell on the Myntra marketplace. Why sell on Myntra?Selling on Myntra is an excellent approach to promoting your products to prospective consumers. One of Myntra's biggest features is that they provide free shipping on orders above INR 499. Returns are very simple, and buyers may receive their money back within a few days. Does Myntra offer free returns to its customers in 2024?As per restofworld.org, Mynta which is owned by Walmart's Flipkart has started penalizing customers with a minimal return charge for those customers who return too often. Can I resell Myntra products?Yes, as a Myntra seller, you can resell Myntra products on the platform. However, becoming a Myntra seller involves a thorough onboarding process and adherence to performance criteria. What is Myntra business model?Myntra's business model revolves around being an online marketplace connecting buyers with sellers, particularly in the fashion and lifestyle sectors. The platform relies on a diverse range of products, competitive pricing, excellent customer service, and partnerships with sellers who undergo a stringent registration process. Myntra charges a commission (4-5%) on sales but doesn't have a registration fee. The focus is on promoting established brands, and becoming a Myntra seller involves transforming a small business into a recognized brand. How to increase sales on Myntra?To increase sales on Myntra, focus on enhancing your seller profile, optimizing product listings, offering competitive prices, leveraging discounts, ensuring excellent customer service, and meeting Myntra's performance criteria. Utilize WareIQ for efficient fulfillment and timely delivery. Can I resell myntra products?Yes, as a Myntra seller, you can resell Myntra products on the platform. However, becoming a Myntra seller involves a thorough onboarding process and adherence to performance criteria.What is myntra business model?Myntra's business model revolves around being an online marketplace connecting buyers with sellers, particularly in the fashion and lifestyle sectors. The platform relies on a diverse range of products, competitive pricing, excellent customer service, and partnerships with sellers who undergo a stringent registration process. Myntra charges a commission (4-5%) on sales but doesn't have a registration fee. The focus is on promoting established brands, and becoming a Myntra seller involves transforming a small business into a recognized brand.How to increase sales on myntra?To increase sales on Myntra, focus on enhancing your seller profile, optimizing product listings, offering competitive prices, leveraging discounts, ensuring excellent customer service, and meeting Myntra's performance criteria. Utilize WareIQ for efficient fulfillment and timely delivery.

May 23, 2022

What is Returns Management: A Detailed Guide for D2C and eCommerce Businesses, 7 Best Practices & How to Handle and Improve Product Returns & Exchanges Processes

What is Returns Management: A Detailed Guide for D2C and eCommerce Businesses, 7 Best Practices & How to Handle and Improve Product Returns & Exchanges Processes

With a drastic increase in online purchases, especially after the health crisis of the Covid-19 pandemic, the eCommerce industry is booming like never before. Most eCommerce and online businesses focus on forward logistics and last-mile delivery to reduce the overall delivery time. But unfortunately, the majority of them miss one of the most critical aspects of the supply chain – the returns management of goods. The bad news is that almost 30% of online purchases are returned. There may be numerous reasons behind it, but customers often get discouraged from committing to a purchase if the returns management process is complicated. Statistics revealed that 92% of buyers stick to businesses if they can manage returns in a simple way.  What is Returns Management? Source According to research, after-sales service, where returns management is a prominent factor, ranks as the most important metric in building customer trust. Returns management, also known as reverse logistics, is a process where a customer returns the goods they have already purchased. The company then needs to arrange a pick up of the returned items from the end buyer and take them to the warehouse. Mainly, the whole process is triggered, tracked, and controlled through software solutions or mobile applications. The process does not end here. After receiving the returned product, the company decides whether to dismantle it and keep the useful parts, recycle it, repair the product or scrap it as a whole. The decision depends on the situation and condition of the returned item. How to Manage Returns and Exchanges? The returns management process depends on the type of purchase - online or in-store. But regardless of the type, it should be simple and easy. 5 steps of returns management are mentioned below: Initiation of a Return or Refund by the Customer The process starts when the customer requests a return of the product that they have purchased. There may be several reasons for wanting to return it such as receipt of a defective product, delivery of a wrong product, improper packaging of the item, buyer’s remorse, or multiple other reasons. The buyer then requests a return through the order tracking page or by contacting customer service and needs to mention why they are initiating the return and whether they need a refund or replacement. Suggested Read: Why are return labels used? Acceptance or Rejection of the Request by the Company Depending on the company’s return policy, the dedicated personnel either accepts or rejects the return request depending on various factors such as the reason for the return and the condition of the product. Usually, the status immediately reflects on the platform, and the customer receives a notification. Pick-up and Inspection of the Product From the Delivery Address by the Seller After the acceptance, the seller mentions the expected pick-up date and time and arranges the relevant reverse logistics processes. Though it is a daunting task for the logistics team to manage the forward and reverse logistics, it is crucial for the company’s brand image and customer retention. Some companies often delegate this task to a 3PL logistics company. Delivery partners will assess the condition of the product and report the information back to the seller. Delivery of the Product to the Warehouse After collection, the returned product travels back to the warehouse or storage facility. It is then sorted and goes through a strict and detailed quality assessment. If any aesthetic or functional defect is found, further decisions are taken on whether to repair, refurbish or scrap. Else, it moves to an auditor for further analysis. Restocking the Product in the Inventory If the product passes the quality check, the warehouse stores and stocks it as per the inventory policy. The product is eligible for sale once again. How to Make the Most Out of Returns and Exchanges? Customer returns are an inevitable fact. But you need to find out how to manage returns. Here are some interesting and effective ways to utilize returns management to the fullest extent: Automatic Data Collection and Analysis To improve the process, it is imperative to collect all the data you can. Investigate the reason for the return and try to get the customer’s feedback about the return, refund and replacement process. During the analysis, consider all the demographic factors like age, gender, etc. It is helpful to identify all the possible metrics that lead to return so that those same factors can be mitigated in the future. Better Understanding of the Preferences of Your Customers An efficient returns management process can tell you about the choice and trends of your customers. The information shared by the customer during the returns management process is beneficial to understanding your buyers’ persona and assists in lead generation and refining your target audience. Construction of a Robust Return Policy Prevention is better than a cure. A customer's return request and how it is managed are indicative of whether your business is able to manage returns or not. Data helps avoid such scenarios. You can get a better understanding of the loopholes to reduce excess costs associated with it. It can highlight the weak points of the return policy and you can craft a more stringent yet customer-friendly policy to avoid losses. 6 Key Metrics to Track for Efficient Management of Returns and Exchanges in eCommerce Return rate: This is the percentage of orders that are returned, and it can help you understand the overall effectiveness of your returns process.Return to origin (RTO) rate: This is the percentage of returned orders that are not successfully resold and are returned to the supplier or warehouse. A high RTO rate can be costly for your business, so it's important to track this metric and find ways to reduce it.Return on investment (ROI): This is a measure of the profitability of your returns process. You can calculate ROI by dividing the net profit from returned items by the cost of managing returns.Customer satisfaction: Tracking customer satisfaction with your returns process can help you understand how well you are meeting their needs and expectations. You can use customer feedback, surveys, and other methods to measure satisfaction.Cost of returns: This includes the direct costs of processing and handling returns, such as shipping and handling fees, as well as indirect costs such as lost revenue and lost customer loyalty.Time to process returns: The speed at which you process returns can impact customer satisfaction and the overall efficiency of your returns process. Tracking the time it takes to process returns can help you identify opportunities for improvement. 7 Ways to Improve Your Returns Management Systems. [Best Practices in 2023] The need to manage returns is painful for every company. But it is a part of business and an efficient returns management process can help you to reduce your expenses drastically. We have summarized some key methods for you below: Understand the Controllable and Uncontrollable Aspects of Returns Customer rejections are costly. If you can identify and analyze the controllable and uncontrollable parts of the returns management process, you can strategically implement the improvements that are necessary. Measure the Cost of the Returns Process Customer satisfaction is one of the critical aspects of measuring a company’s success. But the ultimate goal of a business is to make money. If the cost of customer return is very high and impacts the business's bottom line, you need to think of ways to streamline it and reduce some of those costs. A refund could be a more economical option than an outright replacement. Implement a Clear Return Policy A transparent return policy plays a vital role in mitigating any complications regarding returns management. It helps you to manage returns efficiently, without offending the clients. You can share it on your website, send a hard copy with the shipment, or make it visible on your selling page of every online platform you are listed on. The policy should be easily accessible to the buyers to remove any disparities that could arise later. Analyze the Reasons for the Return This aspect provides the deepest insight into your returns management process. To manage returns effectively, ask your customers to mention the reason for the return while sending a return request. You can perform the analysis in different ways such as measuring the frequency of the returns of certain items, shortlisting specific geographic locations, manufacturers, etc. Provide a Quick Response and Pick Up Customer retention is now the focal point of every business. In order to improve their experience, a quick response and returns management process play a crucial role. According to statistics, 88% of buyers do not prefer to buy from a company that has a late response, return or refund process. Focusing on this area helps you retain clients and is also good for better inventory management. Provide a Transparent Tracking Process Just like the forward logistics during the delivery of an order, a transparent tracking system to manage returns can also help you improve efficiency. An update on the fulfillment status, delivery, and expected time of return through a digital medium or email and SMS notifications improve the trust quotient of your brand. Use a Return Fulfillment Center Having a separate fulfillment center for returns is a good option if you do not have enough time to manage returns. Nowadays, several 3PL fulfillment companies provide such services. This system provides you with ample time to focus on your core business activities so you do not need to worry about returns management. Top 5 Benefits of Optimized Returns Management Process Return management is a cumbersome process. But if you can manage the customer return process efficiently, it can benefit you in several ways: Improves Profit Margins Return management is an integrated part of every eCommerce and online business. It is hard to avoid, but if one can manage returns correctly, the process can be improved to increase profit margins. You can do this by: Optimizing the transportation expenses of reverse logistics.Exploring the option of reselling rather than scrapping returned products. This will save you from a complete loss.Trying to repair or refurbish damaged products to be able to resell it.Do a detailed rejection analysis, find the root cause, and eliminate the vital issues first. That way, you can reduce the reoccurrence of similar concerns. Boosts Customer Satisfaction Returns management may be an underrated aspect from a business perspective. But it is a vital point from a customer’s point of view. If you are unable to manage returns properly, it will directly impact the customer’s feelings about your brand image. The after-sales service is more important than just ensuring your products get sold.  Improves Turnaround Time A quick return process can help you get back products faster. You can then repair or resell it faster, which helps to eliminate the cost of a new purchase. Improves Inventory Management By tracking data on returns, you can gain insights into customer preferences and behavior, which can help you optimize your inventory management and reduce the risk of overstocking. Reduces Wastage Efficient returns management entails proper handling of returned products as well. You need to analyze every product and explore ways to be able to reuse or monetize it. A thorough inspection can give you an insight into which products can be resold, which can be repaired at a minimum cost and what items need to be scrapped.   Conclusion It is now evident that to run a successful eCommerce or online business, you need to take returns management seriously. This does not mean that you need to spend large amounts of money on research and development. You just need to understand the importance of providing a solid returns management process as it will benefit customers as well as your business, in multiple ways. Partnering with a 3PL fulfillment company like WareIQ will give you access to advanced features at competitive prices that you may not have had prior access to.  How Can WareIQ Lower Returns Management Expenses for Your eCommerce Business in 2023? Quick TAT (Turn around time) Logistic partners provide an estimated delivery timeline based on which the customers anticipate the delivery. If it fails to reach them as per this expectation, there is a risk of an RTO and the customer opting to order from a competitor. This also affects the customer retention rate. With WareIQ’s Prime-like shipping, data-driven insights, PAN-India network of warehouses and excellent supply chain management system, orders reach the customers on time as promised. This ensures a higher rate of First attempt delivery, thus reducing the breach of TAT. Higher and Efficient First Attempt Strike Rate (FASR) Delivery success in the first attempt ensures happy customers and helps in their retention. This is an important metric since lower returns imply lower logistics costs on RTO. With WareIQ’s structured incentive plans, delivery partners are encouraged to deliver maximum shipments in the first attempt thereby increasing the FASR. Improved Non-delivery Report (NDR) Conversion Knowing the customer’s intent before performing the last mile delivery can save a lot of time costs related to RTOs. This can be achieved by validating the attempted shipments by directly communicating with customers via phone calls, SMS, e-mail, WhatsApp, etc. Any change of preference or cancellation or order can be recorded and shared to the shipping and delivery partner in real-time to decide whether to “Reattempt the delivery” or “Make RTO”. Performing this manually at scale is almost impossible. With WareIQ’s innovative solutions, most of it can be automated via IVR (Interactive voice response) calling, auto-SMS, auto-mailer, WhatsApp alerts, etc. This also keeps the customer well informed and creates an impact on improving the delivery conversion percentage. In the auto NDR process, the customer will get an IVR call immediately after a failed delivery or when the NDR remark is updated by the delivery personnel. Automation makes the entire process quick and efficient. Wrong or Incomplete Address Amidst the huge traffic across the supply chain and sometimes because of consumer’s ignorance, deliveries often end up attached with wrong or incomplete addresses. This is also one of the major reasons for RTO. Address validation becomes important in this context. WareIQ ensures this authenticity with various checks on the same. This increases the chances of successful delivery. In case of an incorrect address, shipping is cancelled prior to dispatch. It allows not only for lower RTO but also avoids wasteful shipping costs. Automated Partner Pin Code Allocations With WareIQ’s cutting edge technology, pin code allocation is automated. This altogether eliminates the hassles of manual allocations thus reducing logistics costs & shipping costs & RTO as well as increasing fulfillment serviceability and speed of delivery. Making changes in allocations is complex and takes a good amount of time. The system analyzes historic RTO percentages and cost per shipment (forward + RTO) to optimize the allocation and ensure that the courier with the lowest possible cost is chosen for the given pin codes. Such efficiency and cost reductions are not possible with manual processes. This also saves a lot of time in processing and shipping the orders. RTO Shield WareIQ’s RTO Shield provides eCommerce/D2C firms with a comprehensive checkout strategy to reduce RTO losses and increase revenue. Why WareIQ’s RTO Shield? Request a refund for any RTO order that was predicted to be safe by the company.Smart COD checkout option based on technology to detect problematic customers and save on shipping costsDisable COD for untrustworthy and blacklisted customers automatically.Identification and deletion of duplicate ordersVerification of shipping addresses and intelligent shipping selections based on address completeness Benefits of RTO Shield Increase conversions and decrease cart abandonment.The quickest checkout time is under 10 seconds.Identify high RTO risk consumers using data sets from telecom, banks, hyperlocal, and OTT providers.Identify scammers using previous data on their past purchasing behavior and win over them. How Does it Work? Integrate the website/application with WareIQ3 months of historical data will be needed to train the model to predict accurately.Go live in 3 to 5 days Sign Up Now with WareIQ to avail our superior fulfillment tech platform & app store & enhance your online business growth by reducing RTOs with RTO Shield. [signup] Returns Management System: FAQs [Frequently Asked Questions] What is RMA?RMA or return merchandise authorization is a process used by online and eCommerce businesses to allow the buyer to return the product. You need to have a proper process in place to respond to issues before setting up an RMA. It can help to reduce returns management costs and boosts customer delight. Why is it suitable to offload your returns management processes to 3PL companies?3PL companies specialize in fulfillment processes across the board and this includes returns management. They are able to offer you means to reduce the frequency of returns, strategize efficient returns policies and implement detailed reverse logistical procedures to ensure that products are returned safely. What are the reasons for a return?There may be several reasons for customers to return a product. Some common factors are:- Products are damaged when recieved- Products appear different than the descriptions on the website- Remorse after the purchase has been made- Delayed delivery- Poor quality product delivered How can I optimize my eCommerce returns process?Here are some tips for optimizing your ecommerce returns process:i) Make the process easy for customers: The returns process should be straightforward and easy for customers to follow. Consider providing clear instructions, a pre-paid return shipping label, and a simple online returns form.ii) Offer multiple return options: Give customers the option to return items in-store, by mail, or through a third-party carrier. This can make the process more convenient for them.iii) Process returns promptly: Aim to process returns as quickly as possible to minimize any inconvenience to the customer and to prevent a backlog of returns.iv) Communicate with customers: Keep customers informed about the status of their return and provide timely updates. This can help improve customer satisfaction.v) Use technology to streamline the process: There are various software solutions available that can automate and streamline the returns process, such as return management systems and order management systems.vi) Review and analyze data: Regularly review data on your returns process, including the reasons for returns, the cost of returns, and customer satisfaction. Use this data to identify areas for improvement and make changes to your returns process as needed.vii) Consider offering incentives: You may want to consider offering incentives, such as store credit or discounts, to encourage customers to keep their purchases rather than returning them.viii) Train your staff: Ensure that your staff is well-trained on the returns process and able to handle customer inquiries and complaints effectively. How is returns management linked to business growth?Efficient returns management can help the growth of a business in several ways. It improves customer satisfaction, which in turn improves customer retention. A happy customer can become your brand's advocate without any cost spent on advertising. Good references always help to generate leads and thus more sales and growth. What is the difference between Reverse Logistics and Returns Management?Returns management refers to the process of managing customer returns of products or services, including the processes of receiving, inspecting, and handling returns, as well as determining the disposition of returned items.On contrary, Reverse logistics, on the other hand, encompasses the broader process of managing the flow of goods from their point of consumption back to their point of origin for the purpose of recapturing value or proper disposal. Does WareIQ manage returns?Yes, WareIQ is a logistics platform that offers a range of ecommerce fulfillment and shipping services. According to their website, WareIQ offers returns management as part of their fulfillment services. They provide a returns portal for customers to initiate returns, and offer real-time tracking and notification for returns. WareIQ also offers a range of returns analytics and reporting to help businesses understand and optimize their returns process. It has solutions for every touchpoints across the value chain. What returns management processes does WareIQ provide?WareIQ provides multiple services that can assist in your returns management processes such as Non-Delivery Report (NDR) conversion, liability protection, RTO Shield, customer support, real time order tracking and much more. How do I handle returns and exchanges in a D2C fulfillment model?Handling returns and exchanges in a D2C fulfillment model can be a complex process, but there are a few key steps you can follow to make it as smooth as possible for both you and your customers:i) Clearly communicate your return and exchange policy: Make sure your customers are aware of your policy before they make a purchase, so they know what to expect if they need to return or exchange an item.ii) Set up an easy-to-use process: Consider offering a return or exchange form on your website or providing prepaid shipping labels to make it easy for customers to send items back.iii) Process returns and exchanges quickly: Try to process returns and exchanges as quickly as possible to minimize any inconvenience for your customers.iv) Offer multiple options for returns and exchanges: Consider offering a range of options, such as store credit, a refund, or an exchange, to give your customers flexibility.v) Consider offering free returns: Some D2C brands offer free returns to make the process even easier for their customers.By following these steps, you can help ensure that your return and exchange process is smooth and hassle-free for your customers.

May 20, 2022

How to Sell on Amazon? A Step-to-Step Guide for Beginners in 2024

How to Sell on Amazon? A Step-to-Step Guide for Beginners in 2024

Amazon is the largest eCommerce in the world and has changed the retail landscape forever. Because of its large volume of resources and access to highly advanced technology, Amazon often initiates trends that need to be followed by other eCommerce platforms in order to stay relevant. This is why it is the goal of many online retailers, regardless of size and scale, to sell on Amazon. There are many benefits associated with it and also a few things to keep in mind. Let's take a closer look in more detail. Why Should You Choose to Sell on Amazon in 2024? Experience Higher Levels of Growth and Exposure Even though the advent of eCommerce marketplaces has given rise to multiple alternatives, choosing to sell on Amazon consistently enables brands to expand at faster rates than if they opted to join another eCommerce selling platform or sell on their own means. It also supplies retailers with increased levels of exposure to their target audience as well as potential customers in isolated or far-off locations. Many eCommerce analysts suggest that opting to sell on Amazon not only provides multiple benefits but that it is also vital for the long term survival of the company. Amazon is a company that continues to grow at a rapid pace due to an increase in the number of people who have access to the internet and who are getting accustomed to shopping online. Relatively Simple Process to Start to Sell on Amazon Getting started with your journey to sell on Amazon is a relatively easy process for most retailers who are able to meet the necessary requirements and regulations. Specific product categories are susceptible to more scrutiny than others but this is generally the exception, not the rule. It is also in Amazon’s interest to make the process as intuitive as possible to attract as many sellers as they can. The process in order to sell on Amazon is also far easier than setting up your own website, warehousing facilities and retail fulfillment processes. All you need to do is: Create listings for all your offeringsTransport your inventory to an Amazon warehouseMonitor the orders that come in After you finish these aspects of the setup process, Amazon will take care of the rest. However, you will need to put in an effort to make your product stand out from the crowd and this can be done through attractive listings and pictures, branded shipping or discounted prices compared to similar products. Tailored to Retailers that Have Exclusive Products and Stable Levels of Income Choosing to sell on Amazon empowers budding eCommerce retailers with all the tools they need to sustain and accelerate their growth. By removing the burden of important eCommerce logistics processes such as inventory management and order fulfillment, Amazon enables businesses to focus on the core aspects of their business such as refining and marketing their products. However, it needs to be said that all these services come at a price and would mainly benefit companies that can afford to give Amazon a significant commission, by maintaining profitability at a sustainable rate. It would not benefit companies that cannot afford to reduce their bottom line by giving a share of their profit to Amazon for their services. Benefit from Customers Association with Amazon as a Household Name When you make the choice to sell on Amazon, you automatically get access to millions of potential customers who already use and trust its services. Because of the extremely standardized nature of its offerings, customers associate brands who sell on Amazon with reliability, speed and quality and since your business is fulfilling orders through them, customers will extend that same association to your business as well. Amazon has strict quality control measures and will ensure that every order is delivered according to the estimated date and time and in the best possible condition. Customers expect everything to be seamless and that is what your business will provide to them, through Amazon marketplace integration. When you sell on Amazon, you also get the benefits of Amazon’s stellar customer service to make sure your customers are always satisfied, even if they have to deal with a minor issue or query. Gain Access to the Amazon Marketplace’s Advanced Technology and Automation The Amazon marketplace is known for its use of advanced technology and automation from drones to state-of-the-art Warehouse Management Systems (WMS). Businesses who partner with them will also get access to these facilities, without needing to do any of the heavy lifting themselves. Oftentimes, small and mid-sized companies would not have access to the resources or budget to conduct research and development on how to advance their services so it is highly beneficial to them to be able to take advantage of technology that would enhance their business processes, mitigate any manual errors and increase customer satisfaction. Read our blog on how to become a Flipkart Gold Seller to get more information on similar services to Amazon. How Can You Start to Sell on Amazon? 7 Easy Steps to Follow Registering on Amazon The first thing you need to do if you want to register your business to sell on Amazon is to go to the Amazon Seller Signup Page and click on the “Register Now” option. This is a setup page and would prompt you to provide various details about your business such as the name of your company, office address and contact information such as phone and email. Entering the Name of Your Organization During the registration process to sell on Amazon, it is beneficial to register your business as one of the following:  Limited Liability Partnership (LLP)One Person Company (OPC)Private Limited Company (PLC) This is due to the fact that these types of companies are covered under limited liability protection and involve an easy setup process. This is important because retailers that choose to sell on Amazon or any other eCommerce platform can constantly come under the scrutiny of litigation from customers or other sellers.   Entering Your Business’ Address and Contact Information You should provide the official office address of the company in the relevant field and also enter an active phone number that can be used for calls and SMS identification.  Entering Your GST  Information Providing GST information is only required for products that are bound by GST, which are the majority of products that are available on the Amazon marketplace. Products that don’t fall into this category are exempt from needing to provide GST details. Entering Your Bank Account Information Sellers who wish to register to sell on Amazon are required to provide the following information regarding the bank details of the relevant company: Account TypeBank IFSC CodeBank Account NumberBank Account Holder’s Name Listing of Available Products Post filling out the necessary information, potential sellers will have to participate in a compulsory Amazon Partner Quiz. After this, they can begin to sell on Amazon. Products will then have to be listed with detailed descriptions, pictures and accurate information regarding dimensions, features and pricing which can be done on the Seller Dashboard. Post Setup Process If a customer shows interest in one of your products and ends up making a purchase, you will get an alert with all the details, prompting you to ship the order. You can then either start the delivery process of the ordered product on your own through Fulfillment by Merchant (FBM) or allow Amazon to fulfill the order on your behalf through Fulfillment by Amazon (FBA). They will deduct their commission and transfer the remaining amount to your listed bank account. Alternatively, you can also read how to sell on amazon without FBA. 8 Best Strategies to Benefit the Most from Selling on Amazon in 2024 Come up with a Detailed Business Strategy It is important to chalk out a detailed plan for anything that you seek to accomplish and this holds true in order to successfully sell on Amazon. Important aspects to achieving a suitable business strategy would be: Core short term and long term goals for the companyAnalysis of potential customers and target marketsResearch and development of productsMarketing strategiesSales figures in terms of unitsEstimation of logistical, production and operational costsSetting a profit margin It is also necessary to identify trends in the market, keep a close eye on your competitors' products and strategies and have a clear picture as to what kind of products you want to sell and what kind of customers you’d want to sell them to. Another thing that we recommend is to come up with a detailed list of schedules and relevant activities in order to streamline every process that would ultimately have an impact on your bottom line. Identify Your Place in the Market Opting to sell on Amazon is no easy task as there are a vast number of retailers and offerings that would often overlap with your business model. It is important to identify where your products fall in terms of price and visibility, in comparison to your rivals. To achieve this, you need to constantly examine the indicators that would have an impact on your space in the market so that you stay ahead of the curve and be the dominating seller in your segment. Provide Exciting and Descriptive Product Titles Product titles are one of the first things that a potential customer will interact with, on the journey to getting them to make the purchase. Just like your product itself, you need to enhance and refine your title so that it will stand out amongst a sea of other products. The general consensus to come up with the best listing titles is to follow a simple hierarchy which is as follows: name of the brandname of the productdescriptive elements such as colour, dimensions, use case etc.  If you follow this method, your title can rank highly in terms of keyword searches and customers will have a concise way of identifying your products.  Provide High-Quality Photos Making sure that the photos on your product listing pages are high resolution and are able to encapsulate the positioning of your product is crucial. It can have a drastic effect on the perception of your products by customers. In this day and age where phone cameras are more than capable of taking high-quality photos, it isn’t hard to put in a little effort to make sure that your product stands out in its images. There are a few tricks that you can follow to get good shots: Take pictures of your product in its real-world use-caseHighlight your product from all anglesUse a tripod to avoid shaky or blurry imagesUse a subtle background that doesn’t overshadow the productAvoid using flash Make Sure Your Inventory is Synced If you sell on Amazon in addition to multiple other channels, you need to make sure that your inventory is synced across all of them to avoid any confusion regarding orders and available stock levels. You will also be able to seamlessly edit listings and orders that will reflect across all platforms, which will save you time and effort.  Focus on Relevant Keywords Keywords are a very important aspect to sell on Amazon by making sure that your product is not only visible to your target audience but also to as many potential customers as possible. Trending keywords are constantly changing based on customers' tastes and preferences, festive seasons, online trends and other factors so it is important to stay up to date on which keywords are relevant at the right time. Abide by Amazon’s Rules and Regulations There are a vast number of rules and regulations that retailers need to follow to sell on Amazon. The company is very strict about enforcing these rules so it is important to follow them at every step of the way. These rules exist to not only get the most out of your business but also so that Amazon can maintain its image of efficiency and quality. Push for Customer Feedback If you sell on Amazon, it is important that you get feedback to gauge the reception of your products from customers. If you are able to provide a positive experience to customers, it would benefit your business to highlight those reviews so that it can inspire confidence in other customers. Conversely, if you receive negative reviews, it is important to understand and solve the issues faced by the customers that wrote them, so that you can mitigate those same issues in the future. Read our blog on Seller Fulfilled Prime to understand how it can help boost your Amazon sales. Sell on Amazon: Pros and Cons Pros for Retailers who Sell on Amazon Access to Larger Customer Base In most regions of India and the world in general, Amazon has become synonymous with eCommerce retail. This gives retailers who choose to sell on Amazon, a significant advantage over their competitors who opt to sell through their own website or other eCommerce channels. This additionally unlocks access and visibility to the millions of customers who use and browse through Amazon on a daily basis which other eCommerce platforms simply cannot compete with on the sheer scale of active users. Access to Positive Perception by Customers Since Amazon has a vast amount of rules and regulations for retailers to follow if they want to sell on Amazon, most processes across the board are standardised and customers experience a consistent level of efficiency and quality that they will start to associate with your brand as well since you sell on Amazon.  Easy to Operate In order to sell on Amazon, you do not have to be well-versed with technology because most of the services and functions are designed to be intuitive to people from walks of life, so that they can easily sign up by following the instructions and start to sell their products, without any hassles or complications. Access to Important Features in One Place Fulfillment by Amazon (FBA) is Amazon’s 3rd party fulfillment service that all retailers who sell on Amazon can take advantage of if they want to. It provides access to Prime shipping, Amazon’s unrivalled network of fulfillment centers and complete D2C order fulfillment for a specified sum that is agreed upon beforehand. It will help businesses ultimately reduce logistics and operational costs. Cons for Retailers who Sell on Amazon Sellers Need to Abide by Amazon’s Rules If retailers choose to sell on Amazon, they need to follow all the rules and regulations otherwise they can be penalised. Rules can also be changed at the drop of a hat without any say from the retailers. It is also not uncommon for sellers to be booted from the platform for minor breaches in the rules. Sellers Have to Out-Compete Amazon When retailers sell on Amazon, they not only have to compete with a vast array of other sellers but also with Amazon themselves. Amazon sells its own branded products so preference would be given to those over any other, in the form of promotions, ads and appearing at the top of search results. Sellers are at Constant Risk of Being Scammed A big threat to retailers who sell on Amazon is being susceptible to cyber-attacks and scams. Sellers have had to face problems like people buying all their inventory, only to ship it back once the peak season is over, hijacking of orders and losing control of their own listings. Amazon Reduces Storage Space During High Demand Retailers that sell on Amazon and utilize FBA warehouses and fulfillment centers constantly have their available storage space limited, especially during holiday seasons. They can also do this if your products are not in demand and accumulate on a large number of shelves.  You May Like: How to Sell on Snapdeal? Conclusion: Is it Viable for Your Business to Sell on Amazon While opting to sell on Amazon is something many retailers think is a no-brainer, it does depend on the nature of your products, the goals of the business, and the requirements for eCommerce fulfillment services. Selling on Amazon can give your business the boost and exposure that it needs to attain a steady level of growth. However, retailers would need to weigh the pros against the cons. If you do decide to sell on Amazon, and you want to preserve a little bit of your freedom, you can always opt for a 3PL fulfillment company like WareIQ, to take care of all your requirements. That way, you can focus on the heavy-hitting and leave the rest to us. WareIQ is one of India’s leading and fastest-growing full-stack eCommerce fulfillment companies that offer a variety of services from same-day and next-day delivery, shipping badges and RTO Shield, to state of the art technological solutions such as our custom Warehouse Management System (WMS) and our intuitive, well-designed app store. We can take care of your brand’s entire fulfillment requirements and ensure that you and your customers get the best order fulfillment in the country and have a hassle-free experience and raise satisfaction levels to new heights. Over 300 of the fastest-growing eCommerce brands such as The Man Company, Future Group, Kama Ayurveda and Wingreens Farms, already trust WareIQ with the fulfillment process of their companies, so they can focus entirely on core aspects of their businesses such as sales, marketing and R&D. You can also reap all these amazing benefits while stepping up your eCommerce game. We are tailored to every kind of business and offer the most competitive prices in the industry. Sign Up Now with WareIQ to take advantage of our superior fulfillment tech platform & accelerate the growth of your online business. Sell on Amazon FAQs (Frequently Asked Questions) What is Sell on Amazon?Sell on Amazon is a service provided by Amazon that allows you to list and sell products on their website. What type of products am I allowed to sell on Amazon?Amazon allows its users to sell products in various categories such as:Apparel, Baby Products, Batteries, Books, Consumables, Consumer Electronics, Digital Accessories, Groceries, Jewellery, Kitchen Items, Luggage, Movies, Musical Instruments, Office and stationery, Personal Care Appliances, Pet Supplies, Software, Shoes and Handbags, Toys, Video Games, Watches and much more. If my business doesn't have its own website, can I still sell on Amazon?Users are not required to have their own website to sell on Amazon. After the registration process is completed, users gain access to Amazon's Seller Central platform through which products can be listed for sale. Can I receive and fulfill orders outside India through Amazon.in?Unfortunately, Amazon.in currently does not allow orders to be fulfilled outside India. You can sell in countries like the US and UK through Amazon's Global Selling Program. What are the charges for selling on Amazon?Amazon charges its users whenever an order is received while listing to sell on Amazon is entirely free.

May 17, 2022

14 Best Ways to Reduce RTO Charges in eCommerce in 2024

14 Best Ways to Reduce RTO Charges in eCommerce in 2024

Businesses these days are involved in cut-throat competition, mainly on online selling platforms. They try to offer all the services they can to create a better online purchasing experience for their customers. One of them is the return option for buyers. One of the painful realities that online retailers must accept is that there will be customers that seek to return their orders. In order to reduce RTO frequencies, sellers employ a variety of tactics. If a retailer wants to be profitable in the eCommerce space, they need to reduce RTO costs. If not, their profit margins will fall or it may also start creating difficult scenarios. It is widely known that it’s impossible to reduce RTO requests to zero but taking care of a few things can optimize and reduce RTO charges to a certain extent. To achieve significant RTO reduction, you need to first understand it in detail. What is RTO or Return to Origin? The term return-to-origin or RTO is often used in the eCommerce industry. The initiation of the return of a product and its return to the seller's warehouse is referred to as RTO. A package may be returned to the vendor for various reasons. An eCommerce business will incur more costs as a result of this. Setting strategies to reduce RTO costs is vital for the business to maintain its profit margins and not incur extra costs. [contactus_lilgoodness] What is RTO Related Costs? When an online seller or selling channel provides the facility of free shipping, they add the shipping charges to the final selling price of the product. In certain cases where the sale is done but the product is in the process of being returned, all costs associated with the returns process are known as RTO-related costs. For a seller, RTO reduction equals higher profitability. Let us understand the different RTO related costs and how to achieve RTO reduction. Charges for the Shipment to be Delivered and Returned Product delivery is chargeable for sellers, which they account for in the final selling price. If an RTO is initiated, it costs the seller twice the amount which they will not make back during the sale. Therefore, sellers need to find ways to reduce RTO costs. Costs for Repackaging Products are packed after picking them from the shelves of a warehouse, godown, or fulfillment center. Products are customized with multi-layer packaging and the invoices are posted on the outer packet which includes the receiver's address, barcodes, order number, etc. In the event of an RTO, this packaging needs to be removed and put back in the inventory. Later when the same item is ordered again by another customer the seller needs to pack it again. Thus, sellers need to find ways to reduce RTO packaging costs. Cost Incurred due to Product Damage Through online selling, order fulfillment is done by achieved by traveling large distances. These products are picked up and kept with hundreds of other products, which could cause damage if they are not placed in a proper manner. This could result in an initiation of RTO because of product damage before it has even reached the buyer. Companies need to analyse how to reduce RTO caused by product damage. Costs During Handling of Recalled Inventory Storing and managing inventory carrying costs a huge amount of money to a seller. Holding a product for a while can proportionately increase the cost, to the amount of time and addition of new products being added. Sellers seek to reduce RTO storage costs by investing in better inventory management facilities. Costs Incurred due to Expiration The passing time makes a lot of products redundant. Christmas trees are mostly sold during the Christmas season. It applies for most festive seasons so if the product is delayed in transit, it may lose its importance and value due to which a seller will have to store it for a long period which may result in it becoming old-fashioned and irrelevant. Practices That Can Help Sellers for RTO Reduction You can have the best products and most efficient eCommerce fulfillment strategy but you will still get RTO requests. RTO reduction can be achieved but it can never be entirely mitigated. To reduce RTO charges, sellers can keep a few things in mind: Store Inventory Near High Traffic Order Placement Locations: It will not only help a seller in saving shipment charges but also reduce RTO costs as distances to fulfill orders will decrease. Covering less distance is also effective in terms of limiting product damage. Choose Logistics Partners with Competitive Freight Rates: Freight rates in the supply chain matter a lot. Dynamic increases in fuel prices, and not using optimized vehicles can double the freight rate. If your logistics partner offers cost-effective rates, it can reduce RTO charges. Opt for RTO Insurance: This is a recent concept where eCommerce logistics companies and fulfillment companies give sellers an option of RTO insurance. If an RTO occurs, these fulfillment companies will bear the cost instead of the retailer, resulting in an RTO reduction. Choose a Third-party Fulfillment Partner: Third Party fulfillment companies give all-in-one solutions to a seller. It stores your inventory at the best location with high order traffic at the cheapest freight rates, provides individual buyer RTO rates, gives the option of RTO insurance, and provides facilities like RTO shields. All these factors can reduce RTO costs. How to Reduce RTO Charges & Frequency in eCommerce? 14 Proven Ways in 2024 To make your business more profitable, you can apply some tricks to reduce RTO charges. These tested tricks will help you reduce RTO in the year 2024: Optimize Product Descriptions In online selling, people always complain about the difference between a product’s appearance on the website versus reality. When a customer buys a product, they read the product descriptions to get an exact idea of the product. So try to write a good description of the products with accurate facts and figures about their features and dimensions. Provide Order Tracking Many times, ordered products are not received by a buyer because the buyer is not present at the location. If the seller provides order tracking and order scheduling facilities, the buyer can plan and receive it accordingly. Offer Multiple Modes of Payment These days, people are more reliant on UPI or card payments. So if the placed order is COD and the receiving person does not have cash (higher chance in the case of expensive products), the delivery partner should have multiple options of payment available. Convert Returns/Refunds into Exchanges If the seller turns the returns into exchanges, a buyer who often requests for RTOs will have to receive the parcel or they will not get the paid amount. In the case of COD, they can be noted and deprived of the COD option in the future. Check Customer Availability Before Attempting Delivery Most of the time, last mile delivery partners deliver products during the day which may be working hours for the buyer and they may not be present at the given location. So for the delivery, the delivery partner can first check the availability of the customer and schedule a time or change location after verifying the details. This will reduce RTO frequencies significantly. Alert for Consumers with High Initiation of RTOs These days with the help of technology and software, sellers have options to get the numbers of RTO frequency of individual buyers. If a person has a high rate of RTO requests, a seller could ban or restrict them from placing certain orders. Locations are also blacklisted by a few selling platforms as per bad fulfillment experiences. Offer Faster Shipping (Same/Next-Day Shipping) When a buyer orders a product, they expect to get it as soon as possible. They may find some other way to obtain it sooner or buy it from an offline market and when the order finally arrives, an RTO request gets sent. So, a seller should ensure to deliver products on the same day or the next day after the order has been confirmed to reduce RTO requests. Offer a Branded Post-Shipping Experience When a buyer reads the feedback about certain products and brands, they invariably find some feedback related to a bad delivery experience. Chances are that many customers may not have received their orders due to similar problems. The solution to reducing these kinds of RTO requests is to provide a branded shipping experience to your customers. Pick and pack it nicely, send confirmation messages, Message them the tracking ID/number, allow buyers to choose a favorable time to receive it and finally ask them to write a review. Reduce Cash on Delivery Losses Data shows COD orders are mostly converted to RTO requests and from a customer's point of view, they don’t want to pay before they get the product. In this scenario, a seller has multiple options to reduce RTO requests: Verification of Shipping Address A seller can verify the shipping address before dispatching the product to a logistics company. In case it is incorrect, which can turn into an RTO request, the seller or the logistics company can instruct the buyer to correct the eCommerce shipping address to achieve a successful delivery. The address can be verified with a address proof documents of the buyer. Profiling of Risky Orders Make a database of risky fulfillment and mark them according to different parameters. Then choose whether you want to give them an option for COD or ask them to pay before the order delivery. Providing Dashboard Analytics Discover indications that contribute to your RTO losses by getting RTO information at a state/city/pincode level. To better understand delinquent behavior and implement the learnings into your business plan, get full-order review reports. This will reduce RTO requests that are fraudulent. Customization of Business Model Learn algorithms, evolve, and localize the learnings over time to continually increase accuracy based on your company's demands. To make it even more flexible, you can create your own flagging rules. Furthermore, blacklist specific persons based on email addresses, phone numbers, and other factors to reduce RTO costs. Automation of Important Processes As your eCommerce firm expands, automation becomes increasingly important. Set up automated workflows to automatically accept or reject red-flagged orders based on risk factors, saving time and money in the process. To maximize your business and decrease operating expenses and reduce RTO charges, automate order confirmations, payment collections, and other operations. Conversion of Risky COD Orders to Prepaid Orders: If there are higher chances of RTO requests with an individual customer, only give them the option to pay before order placement. Prepaid orders result in RTO reduction and if an RTO request still occurs, allow an exchange instead of a refund. Optimizing Website Experiences in 5 Ways to Reduce RTO in eCommerce You may have observed that brand appearance matters a lot in its positioning. In online selling, the appearance of a brand depends upon its website. Websites increase brand value and with good brand value, RTO reduction of a product can be achieved: These are some ways to make your website more effective:   Implement a Return Policy For eCommerce businesses, return policies should be a set of rules created by a retailer or a selling platform to manage returns and exchange unwanted merchandise that a customer has purchased. It should tell the buyers what items can be returned and for what reasons, according to a timeframe over which returns could be initiated. Enhance Product Illumination When a product fails to meet the standards set out on the business’ website, it is a key contributor to product returns. It's disheartening to receive a shipment after waiting weeks for it, just to open it and discover it's not what you expected or required. Ways to reduce RTO requests in this regard are: Create an attention-grabbing headline summary.Summarize the product definition with a bulleted list of key characteristics and features.Use a paragraph to expand on what makes the product unique. Instead of focusing on describing benefits, focus on giving a solution.To persuade the consumer to buy, end with trust, social truths, urgency, and a call to action. Value Consumer Reviews If you have a high number of RTOs then there must be some reason why the majority of customers are not accepting the delivery. You can try to get feedback from the buyer who didn’t accept the delivery or read reviews of buyers who have written about their post-order experience. Read all and then try to provide a solution. Introduce Product Videos If customers are returning items because they don't meet the product description's expectations, you might want to consider adding a video function to your product detail page. Brand films are now a highly effective technique for increasing conversion rates, and reducing RTO requests and more individuals determine that after watching a product commercial, they can better imagine themselves using the product. Provide a Post-Purchase Confirmation Message Sending a post-purchase message(mail) to your customers can be a very effective way to reduce returns. Reduce objections that lead to refunds and keep customers enthused about what they just ordered by informing consumers about the product between order and shipment. Strategies to Decrease RTOs in eCommerce with WareIQ According to a recent study by KPMG, return shipments can make up to 20% of total shipments in e-commerce. This rate climbs to 40% in the case of Cash on delivery (COD) orders. Return to Origin (RTO) is a nightmare for sellers as it significantly increases the logistic costs. RTOs rates are expected to increase even further in India with demand surges in tier 2 and 3 cities. Given the situation, reverse logistics has become an integral part of a business plan. Given the convenience of online shopping and the lack of risk, buyers can frequently return items without second thoughts. RTO logistics become extremely important to decrease this trend as well as the costs involved. The sheer amount of revenue lost by companies through return items is about 20% of the sale, and that’s exactly where WareIQ pitches in to help you save the costs. We optimize your return order logistics and improve overall efficiency with the help of insights derived from customer data, customer retention metrics and return policies. How Does WareIQ Help eCommerce Businesses in Reducing RTOs in 5 Ways? Quick TAT (Turn around time): Logistic partners provide an estimated delivery timeline based on which the customers anticipate the delivery. If it fails to reach them as per this expectation, there is a risk of an RTO and the customer opting to order from a competitor. This also affects the customer retention rate. With WareIQ’s Prime-like shipping, data-driven insights, PAN-India network of warehouses, and excellent supply chain management system, orders reach the customers on time as promised. This ensures a higher rate of First attempt delivery, thus reducing the breach of TAT.Higher and Efficient First Attempt Strike Rate (FASR): Delivery success in the first attempt ensures happy customers and helps in their retention. This is an important metric since lower returns imply lower logistics costs on RTO. With WareIQ’s structured incentive plans, delivery partners are encouraged to deliver maximum shipments in the first attempt thereby increasing the FASR.Improved Non-delivery Report (NDR) conversion: Knowing the customer’s intent before performing the last mile delivery can save a lot of time and costs related to RTOs. This can be achieved by validating the attempted shipments by directly communicating with customers via phone calls, SMS, e-mail, WhatsApp, etc. Any change of preference or cancellation or order can be recorded and shared with the shipping partner in real-time to decide whether to “Reattempt the delivery” or “Make RTO”. Performing this manually at scale is almost impossible. With WareIQ’s innovative solutions, most of it can be automated via IVR (Interactive voice response) calling, auto-SMS, auto-mailer, WhatsApp alerts, etc. This also keeps the customer well informed and creates an impact on improving the delivery conversion percentage. In the auto NDR process, the customer will get an IVR call immediately after a failed delivery or when the NDR remark is updated by the delivery personnel. Automation makes the entire process quick and efficient.Wrong or Incomplete Address: Amidst the huge traffic across the supply chain and sometimes because of consumer ignorance, deliveries often end up attached with wrong or incomplete addresses. This is also one of the major reasons for RTO. Address validation becomes important in this context. WareIQ ensures this authenticity with various checks on the same. This increases the chances of successful delivery. In case of an incorrect address, shipping is cancelled prior to dispatch. It allows not only for lower RTO but also avoids wasteful shipping costs.Automated Partner Pin Code Allocations: With WareIQ’s cutting-edge technology, pin code allocation is automated. This altogether eliminates the hassles of manual allocations thus reducing logistics costs & shipping costs & RTO as well as increasing fulfillment serviceability and speed of delivery. Making changes in allocations is complex and takes a good amount of time. The system analyzes historic RTO percentages and cost per shipment (forward + RTO) to optimize the allocation and ensure that the courier with the lowest possible cost is chosen for the given pin codes. Such efficiency and cost reductions are not possible with manual processes. This also saves a lot of time in processing and shipping the orders. RTO Shield WareIQ's RTO Shield provides eCommerce/D2C firms with a comprehensive checkout strategy to reduce RTO losses and increase revenue. Why WareIQ’s RTO Shield? Request a refund for any RTO order that was predicted to be safe by the company.Smart COD checkout option based on technology to detect problematic customers and save on shipping costsDisable COD for untrustworthy and blacklisted customers automatically.Identification and deletion of duplicate ordersVerification of shipping addresses and intelligent shipping selections based on address completeness Benefits of RTO Shield Increase conversions and decrease cart abandonment.The quickest checkout time is under 10 seconds.Identify high RTO risk consumers using data sets from telecom, banks, hyperlocal, and OTT providers.Identify scammers using previous data on their past purchasing behavior and win over them. How Does it Work? Integrate the website/application with WareIQ3 months of historical data will be needed to train the model to predict accurately.Go live in 3 to 5 days [signup] Reduce RTO FAQs What is an RTO or Return to Origin?When an order is not delivered due to some issue or is delivered and is sent back to the seller for a particular reason, the process of return is called RTO. It impacts the seller because it is an extra expense that has to be incurred by the seller. How does RTO impact an eCommerce seller?It negatively affects an eCommerce business due to loss of money, time, energy and increases the chances of product damage. If an order offers free delivery and an RTO is initiated, the entire delivery and return logistics costs are borne by the seller. How can a seller reduce RTO costs?There are several ways to reduce RTO costs such as optimizing logistic costs, partnering with fulfillment centers, verifying addresses, promoting COD orders, marking higher individuals with high rates of RTOs, using an RTO shield, etc. How does WareIQ help eCommerce brands reduce RTO via RTO Shield?WareIQ's RTO Shield or Return to Origin Shield gives eCommerce and D2C businesses a complete checkout strategy and helps reduce RTO losses and increase revenue.

May 16, 2022

Flipkart Gold Seller Guide: Advance Towards Gold Tier Selling in 2024

Flipkart Gold Seller Guide: Advance Towards Gold Tier Selling in 2024

It is simply possible and easy to sell your products online on Flipkart and become a top eCommerce player with minimal cost, whether you're a manufacturer, seller, or supplier. At this moment every seller is aspiring to be a Flipkart Gold Seller. In comparison to the other tiers, Flipkart offers a lot of services in the Gold tier. The question now is how to become a Flipkart Gold seller, and how to maintain your Flipkart Gold tier status if you already are. Flipkart is an online marketplace with millions of products in more than 80 categories which includes clothing and accessories, automotive accessories, food products, books, industrial and scientific supplies, health care and beauty, mobile and accessories, home and kitchen, and many more. Flipkart was started in 2007 by Binny Bansal and Sachin Bansal and is headquartered in Bengaluru, India. The organization currently employs more than 50,000 people and has 150+ million registered users (Targeting 500 million by end of 2022), who visit the website daily. Flipkart's technical support allows them to send millions of shipments per month, and the numbers are still growing. Five Reasons for Establishing Online Selling Business With Flipkart in 2024 The primary goal as a business owner is to promote and grow your brand, which enables you to generate revenue and indirectly increases the prospects of becoming a Flipkart Gold Seller. Even if you possess a prominent location for your business in a bustling market, you may be well-known, but your reach will be limited. What can you do about it? By starting to sell at online marketplaces like Flipkart, Amazon, and Myntra. When you sell products online, you can reach a much larger audience and potential customers. Building your brand value and making your products easily visible online to customers in various cities across India, will cause them to shop from you online. This way consumers can also easily order things online and have them delivered to their homes, without going to that place. Selling with Flipkart has its perks and benefits. Pan India Reach You may have the most famous store in Connaught Place, Delhi, or in Commercial Street, Bangalore, but clients who aren't in that area won't be able to visit you. When you sell online, on the other hand, you can reach customers in your neighborhood and city just as readily as customers from distant parts of the country. For example, when you sell on Flipkart, you instantly gain access to over 150 million registered users. With this one move, you may transform your business by establishing an all-India presence. To be precise, a physical store owner may only be able to contact a limited number of buyers. They can deliver to consumers' houses, however, distance restrictions may apply. Hence reaching out to more customers can be beneficial to sellers who need to broaden their reach to find new customers. Low Set-up Costs Unlike a traditional shop, selling online on Flipkart doesn't require you to spend a lot of money on setting up and running your business. With a few clicks, you can easily start a small business that can grow without having to spend a lot of money. Organized Logistics Network When you sell things online, you don't have to worry about how you'll get them to the customer or how much they will cost. You may use the logistical network that has been developed and perfected with ease if you choose the correct platform, such as Flipkart. You may enjoy the delivery experience while simultaneously protecting yourself from losses with the Seller Protection Program, which offers hassle-free pick-up and delivery of products through 200+ pick-up hubs and more than 10,000 delivery agents and also reduces logistics costs. Low Marketing Cost When you launch your business online, how will you stand out among the thousands of other sellers? Don't panic, you can promote your company without breaking the bank. When you sell on Flipkart, for example, you'll be connected with partners who will catalog and photograph your products so that they appeal to customers, as well as give you advice on promotions and advertising and assist you in making smart business decisions. Access to Market Trends You may take advantage of market trends when you start your online business on Flipkart. Flipkart collects data on a variety of topics to assist you to understand what products are in great demand, what new market trends are emerging, and what products sell better. You can utilize this data to make appropriate stock changes and, as a result, enhance your revenue. With these five reasons in mind, start selling online and take your business to the next level. You may register in a matter of minutes and utilize the simple seller platform to manage and build your business. Flipkart's online marketplace, which has over 150+ million registered users, has more room for expansion than you could ever dream of. This, together with all of the assistance you require, makes it simple for you to get started and become a Flipkart Gold Seller. Also, read our blog on Seller Fulfilled Prime to get an idea of competitive eCommerce services. [contactus_lilgoodness] How To Get Started With Selling Products on Flipkart? While many people find the lengthy process of becoming an online vendor burdensome, Flipkart has simplified the procedure to the satisfaction of sellers. When you complete the Flipkart seller registration procedure, it will ask you for information and documents about the sort of legal business organization you wish to register with. Identify Legal Business Entity When you start to think about an online selling business on Flipkart, even before the seller registration process, you should be well informed about documents about the type of legal business entity you wish to register with. As a fact, before you join Flipkart as a seller, you first must establish a legitimate company entity. There are the three classifications Flipkart has been offering:   Private Limited Company  Limited Liability Partnership Firm  Individual or Sole Proprietorship Firm Each legal entity has its own set of characteristics and regulations. As a consequence, you need to determine which one meets your requirements. It might be detrimental to your business if the structure you choose is inappropriate. It is also significant in terms of the fact that the firm must file income tax returns and annual filings with the company registrar. Let us provide the detailed information and advantages of registering as a legal business entity: Registering as a Private Limited Company There are various benefits of registering as a Private Limited Company on Flipkart. This is by far the most appropriate corporate structure. Sellers benefit from the advantages of a Private Limited Company, such as limited liability, which provides security to its promoters and shareholders, easy transferability, easy access to financing, independent legal entity, perpetual succession, and risk-taking ability to build the business, among others. It is an extremely progressive move to register as a Private Limited Company for selling/trading things on online platforms like Flipkart and Amazon. Documents required are- Identification proofA copy of the Private Limited Company's registration documents or certificate of incorporationMOA Copies (Memorandum of Association)The company's PAN cardAddress VerificationElectricity bill under the company's nameLease or rental arrangementCancelled current account checkGST Identification Number  Registering as a Partnership Firm or LLP As a Partnership Firm, a seller can join Flipkart. Limited liability protection, a separate legal entity, and easy transferability are all advantages of registering as a Limited Liability Partnership (LLP) on Flipkart. Documents required to become a Flipkart seller using a partnership or LLP business type include- Identification ProofCertificate of LLP Incorporation or Partnership RegistrationPartnership Firm or LLP PAN CardDocuments indicating the PartnersAddress proofOfficial document verifying the Partners' addressElectricity bill in the name of Partners/LLP Telephone bill in the name of Partners/LLP Rental or Lease agreement Electricity bill in the name of Partners/LLP Registering as an Individual or Sole Proprietorship firm For individuals who do not want to maintain their business storefronts but still want to sell their products, online markets for them are usually very simple. Organizations like Flipkart make it easy for them to list their products and sell them across the country. The majority of people are using these portals to register. The sole proprietorship is immediately granted to the person who registers under a brand name. This business model provides no insurance to the owner and limits the owner's capacity to expand due to unconstrained liability and limited access to loans, company grants, and banks. As a consequence, selling as a sole proprietor is ideal for small business owners with minimal risk. Here is a list of documents and information required to register as a sole proprietorship- Identification proofA signed statement on the company's letterhead stating that the person controls and owns the company's bank accountProprietor's PassportProprietor's PAN cardProprietor's voter ID/driving licenseIdentification card with the seller's photo ( Aadhar Card)Address verificationA proprietor's bank account statement or a cancelled checkThe proprietor's electricity bill License or Lease agreementGST Identification Number How to Register as a Seller On Flipkart Steps to follow to register your business on Flipkart ·    Go to the Flipkart Seller Homepage to register as a Flipkart seller. ·    When you click "Register Now," you'll be sent to the seller registration page. ·    After submitting the basic details (Name, Email-Id, GSTIN) you will receive a confirmation email from Flipkart that registration has been successfully done. ·    The next screen will ask for your pick-up location. You must first enter your pin code, which will be confirmed, followed by your address. ·    Business information will be requested in the next following step. ·    After providing the information asked, there will be another verification email request to confirm the email address. To confirm the email address. ·    The Flipkart seller account would be finally created. After that, the individual will be brought to the final page for authenticating the account, where filling out the following categories is mandatory. Attach a scanned copy of each supporting document to demonstrate the legitimacy and functioning of the business entity. The store's nameBusiness InformationDetails on the Virtual Signature BankA photograph of a cancelled chequeGSTIN Documents Supporting KYC DocumentsList of Products Interested in Selling Tax Registration Documents To begin selling on Flipkart, one must submit Tax-Related business documents. Listing The Products On Flipkart Click the listing in your Flipkart Seller AccountBy clicking on Listing, select 'Add New Listing’Depending on your preference, you can submit a single product or a batch of productsTo check your inventory, click ‘check Inventory health’ after uploading the details of the productsFlipkart also features a dashboard for sellers to manage their accounts. Update or change all of the product's details using the dashboard Setting up for Shipping and Logistics Operations Flipkart offers shipping and operational support. It has collaborated with major logistics partners across India to pick up and deliver orders quickly wherever in India. Packaging expertise, materials, and training are provided by the logistics company or courier services. After receiving the order, the seller is responsible for packing the product and keeping it ready for dispatch. The courier service representative collects the order from the vendor and delivers it to the specified location. Flipkart Smart Fulfillment Flipkart assists you in achieving maximum results with less investment. As a result, the Flipkart Fulfillment service allows you to access cutting-edge fulfillment centers at a very low cost. Where products are stored at fulfillment centers. Flipkart fulfillment offers space for fulfillment centers, efficient delivery of products, professional inspection of products for quality, and aesthetic packaging. The benefits of Smart Fulfillment are: ·    Orders are processed quickly. ·    Strict quality controls ·    Packaging materials of high quality ·    Assured by Flipkart ·    Inventory is distributed across several fulfillment centers. ·    People that join up for Flipkart Fulfillment and sell high-quality products earn the Flipkart Assured badge.  A seller must meet the following requirements to receive this badge: ·    Least customer returns ·    Smart retail fulfillment should be listed. ·    A product's rating should be higher than the standard. ·    Flipkart imposes shipping charges if you receive the Flipkart Assured badge. ·    You can determine delivery charges depending on your costs if you lose the Flipkart Assured badge. Managing Payment and Returns Flipkart deposits funds directly into your bank account between 7-15 business days of receiving your order. The reward varies according to the performance level. Seven business days for gold sellers, ten business days for silver sellers, and fifteen business days for bronze sellers. Flipkart also charges a minimal fee on successful orders, and you have complete control over the price of your products. A returns policy is a collection of rules and regulations that enables customers to return goods if they are disappointed with them. Flipkart's return policy protects customers from products that are damaged or defective.  It allows buyers to request a return, replacement, or refund based on predetermined criteria. Seller Account Analysis  Every Flipkart seller has to analyze data, and Flipkart has made it simple for them to do so by creating the Sellers Hub mobile app. It gives real-time information on listings, payments, D2C order fulfillment, refunds, and other topics. Flipkart also has its dashboard where vendors may view the metrics analytics. Sellers can easily comprehend data from a certain period and also recognize return orders. The Flipkart dashboard assists you with evaluation, management, and analytics. It includes all of the relevant information for a seller, such as listings, payments, inventory, orders, growth, reports, and advertising. Seller Profiling on Flipkart It became increasingly difficult for Flipkart to treat all merchants fairly as the number of sellers increased exponentially. Flipkart had to decide which sellers' products would get the most visibility, which sellers would want a dedicated account manager, which sellers would require advanced seller support, and so on. In 2016, the Seller Tier System was implemented, with sellers being paid based on their performance. To assign a particular tier to the seller, Flipkart evaluates a seller's performance using these inspection criteria: sales, product ratings, service quality, and regional utilization. Sales- The performance of sellers on Flipkart is one of the most important distinguishing factors. Flipkart evaluates a seller's sales success using one of three metrics: units sold, revenue earned, or growth index.Product Ratings- Flipkart enables consumers to rate products based on their usability and customer service aspects. The scale for these ratings is zero to five, with five being the highest (topmost rating). To earn favorable feedback, sellers must ensure that their items and services satisfy the required customer expectations. Service Quality- Flipkart expects its sellers to just provide prime-quality service. To do so, they've instated strict guidelines that sellers should follow, as well as penalties for any breaches. Flipkart evaluates a seller's service quality using two criteria: Ready to Dispatch (RTD) violations and seller cancellation. When selling on Flipkart, sellers must be careful with inventory updates and Service Level Agreement (SLA) driven order processing. Based on the analysis of the performance of the seller, they are provided with certain benefits. These benefits are considered to be directly proportional to the performance of the sellers and this becomes important from the seller’s point of view. Better the seller performs while selling on Flipkart, the more perks he will receive. Performance is reviewed and rewarded, and it is classified as a Bronze, Silver, and Flipkart Gold Seller (prime-tier). This rating is valid for 90 days, after which it will be upgraded if you meet all of the criteria for the following tier. GMV (Gross Marginal Value), or the number of units sold, seller cancellations, Ready to Dispatch (RTD) breaches, and product ratings are all factors considered for the specific classification. Requirement for Becoming Flipkart Bronze Seller  As a seller, you are automatically assigned to the Bronze tierTo progress to the Gold/Silver-tier on Flipkart, sellers must focus on expanding by hitting benchmarks using the tools provided on the dashboard Requirement for Becoming Flipkart Silver Seller  A minimum of 30 lakh rupees in revenue or 4,000 units sold is required. Seller cancellations are less than 0.50 percent RTD breaches of less than 1.40 percentRequired ratings must satisfy the vertical benchmark Requirements for Becoming Flipkart Gold Seller Every seller at Flipkart aspires to be a Flipkart Gold Seller on the platform. In comparison to the other tiers, Flipkart offers a lot of benefits in the Gold tier. The question now is how to become a Flipkart Gold Seller, and how to maintain your status as a Flipkart Gold Seller, if you already are. To attain Flipkart Gold Seller tier status on the Flipkart marketplace, you must meet certain conditions- Seller Cancellation- If the seller cancellation rate is greater than 0.15%, then the seller will not grow out from the existing tier.Ready to Dispatch (RTD) Breaches- If dispatch breaches are greater than 1%, then the seller again will be kept in the existing tier.Product Ratings- There are various vertical benchmarks for analyzing product ratings. It is possible that if a seller has a bronze seller rating in any product or category, Flipkart will promote them to a higher tier, however, this is entirely dependent on Flipkart, and WareIq suggests you keep your product ratings as high as possible.Sales- Either 50 lac rupees in sales or 6000 units are required. Flipkart requires to fulfill either sales or unit criteria. If any one of them is accomplished within 90 days from the start of the current tier, the seller progresses to the next tier.Growth Index- The growth index compares your performance to that of other sellers over the same period. You may examine the growth index by going to the Growth tab and selecting Performance Overview from the drop-down menu. It will demonstrate your progress in comparison to other sellers. The growth Index should either be equal to or greater than 2.Regional Utilization- The number of units sold and delivered in the same local or zonal region is divided by the number of units sold. It should be in the 30 percent range or higher. These are the most critical pre-requisites which are to be keenly obeyed to become a Flipkart Gold Seller. Dare you miss any of them. Flipkart Gold Seller Benefits Flipkart always incentivizes its sellers in an attempt to keep its customer base in the face of raising the level of competition amongst sellers. Flipkart Gold Seller tier members receive a 20% discount on forwarding shipping costs, a 7-day payment cycle, high product visibility, a dedicated account manager, exclusive participation in exclusive Flipkart events, and first-page high visibility on the Flipkart website. This Flipkart Gold tier features to assist in the expansion of the Flipkart Online Selling business. 4 Smart Ways to Achieve Flipkart Gold Seller Tier Status After registering on Flipkart as a seller and spending the majority of your day there, sellers probably noticed a large increase in their overall sales. However, the sky's the limit in online business. If you're still wondering how to increase your Flipkart sales and maintain the Flipkart Gold Seller status, you are at the right place to learn the tactics. Improve Overall Sales Performance Participate in Spike or Flash Sales A flash sale is one of the most effective ways to achieve Flipkart Gold Seller status. Vendors can advertise the sale in advance, which will work as a stimulant, resulting in greater sales and money. Go to the 'growth' section of the seller dashboard to participate in such events. Flipkart actively encourages vendors to participate in its promotions.  With Flipkart's spectacular shopping events, often known as spike sales, you'll have a lot of opportunities to grow your brand. There are interesting offers on practically all categories during spike sales. This draws a large number of purchasers and delivers a lot of traffic to websites and mobile apps. Sellers not only increase sales with little work but can also reach out to more buyers all at once. Participating in spike sales can also help increase buyer satisfaction and helps in getting established as a Flipkart Gold Seller. Flipkart makes sure suppliers receive a large number of buyers during the sale by providing everything from extra operational employees to TV commercials and promotions on web portals. Running Advertising Campaigns Running ad campaigns on Flipkart is another effective approach for increasing the discoverability of your products on the platform and attaining Flipkart Gold Seller status. You can develop highly-targeted and tailored commercials for customers who are most likely to buy your products using paid advertisements. Simply go to your Flipkart seller dashboard and click on advertisements to use Flipkart ads. Flipkart has a comprehensive rate card with various CPCs for various categories. Sellers can start advertising after selecting the appropriate category and defining targeted demographics. The more clicks your products receive, the more likely they are to be purchased. Product Listing Ads are the simplest approach to obtaining more clicks for your products on flipkart.com. Select a product and develop an advertising campaign for it. Then these products are displayed as 'Featured Products' on relevant Flipkart pages. When a buyer comes across an ad while looking for things to buy, he clicks on it. If it is relevant to the buyer search query, most probably it is purchased. Offer Better Cataloging On an eCommerce website, a catalog displays a list of products and plays a key function in influencing shoppers. To become a Flipkart Gold seller, it's critical to have a well-designed catalog with a concise explanation of your products if you want to convert traffic to sales. Remember that most people shop online to save time, so your product description should impress them without making them waste time trying to figure out what you're selling. Adding your goods to the appropriate category and sub-category is another key aspect of cataloging that can help you enhance sales. This will make it easier for shoppers to find your products and increase traffic. Make sure you have enough things to pick from for your customers. Even if your product line is small, you can give your clients the option of selecting numerous product versions such as colors and other features. This improves their chances of making a purchase. Improve Overall Product ratings Use of High-quality Images Images are the closest a customer can come to the look and feel of a real product on a digital platform, making images a crucial component of online selling. Your product's images should always be high-resolution, with every detail visible. Because what looks nice sells more, make sure that product images are professionally photographed to pique buyer interest. Customers may never know what they are buying if you display your products with pixelated or blurry images. This increases the likelihood of your products receiving negative feedback. To avoid this, make sure all of your profiles include high-resolution photos of your products. This can help you achieve Flipkart Gold Seller status Use Informative Descriptions for Products Customers may have unrealistic expectations of your products if you don't use accurate and helpful product descriptions. This may result in people giving your products a low rating. You should include content-rich product descriptions, including characteristics, materials used, weight, size, and more, to avoid any mistakes. Using detailed descriptions will escalate your chances of becoming a Flipkart Gold Seller. Accurate and Easy to Read Size Charts The ratings of clothes and footwear brands, in particular, suffer because buyers order the wrong size. Furthermore, there is a small size difference across brands. Customers will order the correct products if they include an easy-to-read sizing chart, which will also help boost product reviews. This can also help in making you a Flipkart Gold Seller. Improve Overall Service Quality Reduce Ready to Dispatch Breaches RTD stands for ready to dispatch, and an RTD breach occurs when the product is not dispatched on or before the scheduled dispatch date. On a priority basis, sellers should pack orders and designate them as ready to ship. A procurement Service Legal Agreement (SLA) is decided upon by the marketplace and the sellers. According to their order processing capacities, sellers should apply procurement SLAs to their product listings. In the event of a resource shortage, quickly boost procurement SLAs across all listings to avoid an RTD breach. Finally, avoid packing orders on the last day and designate them as ready to ship. Reduce Seller Cancellation When a seller lacks sufficient inventory or is unable to obtain an ordered item, the seller is compelled to cancel the order. Regularly update product listings with the correct selling price and quantity. If an ordered item is not in stock, strive to locate it immediately so that the order can be fulfilled on time. Remove the product from the listing immediately if you are unable to source it and avoid submitting too many product listings and then failing to fulfill some of them. Improve Regional Utilization Analyze the Most Demanding Zones Analyze the region with the most orders using your previous order history. It assists you in distributing products according to high-selling zones. Flipkart has built a robust seller panel that may generate performance reports for you. These reports can be used to determine the most important zones for storing your merchandise. If you're just starting, it can make sense to disperse your goods across the country's big metropolises, such as Mumbai, Delhi, and others. Identify High Selling Products and Improve Regional Inventories Find products with a high sell-through rate and distribute them to various eCommerce fulfillment centers. Distribute stock of your flagship products if you're starting from scratch and don't have sales data to identify top performers. These ways when adopted help the seller to achieve Flipkart Gold Seller Tier. In case, you want to expand your sales channel and want to start selling on Meesho, read our blog to know about 8 effective strategies to become a top Meesho seller. How WareIQ, as a Tech-Enabled Fulfillment Partner can Upscale Flipkart Sellers from Tier Bronze to Flipkart Gold in 2024? The technology behind WareIQ prioritizes speed and scale to give you complete control over your logistics and provide clients with Amazon-like delivery. WareIQ combines all of your logistics operations into a single platform, allowing you to manage everything from inventory, orders, and warehousing to shipping, delivery, and refunds all in one location. There will be no more squandered resources or data fragmentation from a hundred separate tools but WareIQ provides a one-stop solution for every eCommerce complication and reduces logistics costs. Since customer expectations have risen dramatically as a result of changing consumer preferences and high digital adoption and eCommerce logistics expansion after the COVID-19 pandemic. To stay ahead of the online selling competition, brands now must improve their website interface and services to become a Flipkart Gold Seller.  In this article, we'll go through numerous pain points that can affect your online selling and how WareIQ can help you deal with them. SLA Driven Order Processing: Ensure High-Quality Service The SLA-driven and streamlined pick and pack automated systems in WareIQ ensure that every order is packed and marked as "ready to dispatch" on time, every time. We assist our sellers to avoid RTD breaches and seller cancellations by properly processing orders while keeping the SLAs in mind which helps sellers to attain Flipkart Gold Seller status. Efficiently Handle Flash Sales or Promotional Events When participating in flash sales and promotional events, frictionless fulfillment is essential to satisfy the peak needs and complexity of direct-to-consumer and direct-to-business orders, with automated order fulfillment systems, this can be productively fulfilled.  Effectively handling exponential increases in order quantities, WareIQ combines its enormous fulfillment infrastructure with well-organized procedures. All you have to do is tell us when and how long the flash sale will last, and we will handle the rest – everything from raising your daily pick capacity to allocating dedicated labor is taken care of. Avoid Overselling with Correct Inventory Relay With the correct inventory relay, you can avoid overselling. Overselling is one of the leading causes of SLA breaches. When a seller is unable to fulfill a customer's order owing to a shortage of inventory, this occurs. To avoid this, WareIq syncs your inventory across all channels regularly, allowing you to accurately transmit inventory levels to marketplaces and avoid overselling, which can result in seller cancellations. With WareIq you only receive orders for inventory you have which causes zero cancellations from sellers. Terminate Low-Quality Products Reaching Your Clients To ensure that your consumers receive premium quality products, WareIQ runs quality checks at the time of receiving inventory and order processing. If you have one-of-a-kind products that require further scrutiny, WareIQ lets you tailor the inspection criteria to meet your requirements which indirectly assists you in increasing your average product ratings by presenting the appropriate products. With precise order processing, we won't let you deliver a low-quality product to your clients. This will assist you in becoming a Flipkart Gold Seller. Improve Your Regional Utilization with WareIQ Our storage facilities and fulfillment centers are scattered across India and closer to your demand centers. This is how WareIQ helps you to reach a wider audience in less time. Also, our strategic inventory placement keeps your demand centers filled and allows for effective and timely delivery. WareIQ can assist your transition from a 5-15 day delivery system to an Amazon-like same-day/next-day delivery system. With WareIQ, you can split your inventory based on your most popular zones and improve your regional utilization WareIQ Helps You Secure a Flipkart Gold Seller Spot What if we told you there is a method to become a Flipkart Gold Seller right now, that is too hassle-free?  All you have to do now is contact us and our executive will help get you onboarded then as a vendor you will start enjoying the benefits of being a Flipkart Gold Seller in less than 90 days. [signup] Flipkart Gold Seller FAQS Can a common man become a Flipkart Gold Seller?Definitely, anyone who is selling on Flipkart can become a Flipkart Gold Seller. All you need is to act in accordance with the regulations stated by Flipkart Is it legal to sell without a trademark?For now, it is not mandatory to have a trademark for selling on Flipkart. But getting a brand name will prove out to be great in terms of generating revenue and become a Flipkart Gold Seller. If you are not having a trademark, go get one and race for becoming a Flipkart Gold Seller. What does it take to be a Flipkart Gold Seller?It takes a lot of effort to be a Flipkart Gold Seller. Sellers must sell over 6000 units, produce INR 50 lac in income, or outperform the current growth index benchmark Can I be a Flipkart Gold Seller without having a GSTIN?You can only sell products that are exempted on Flipkart like books that do not require GSTIN. But to be a Flipkart Gold Seller, It is required to generate a revenue of INR 50 lacs, which will only be possible for sellers who have GSTIN. How many days does it take to become a Flipkart Gold Seller?Flipkart gives a window of 90 days, in order to fulfil the requirements to be a Flipkart Gold Seller. What is FAQ?Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. What is FAQ?Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

May 16, 2022

Introducing the WareIQ App Store: Streamline your eCommerce Fulfillment and Shipping Operations

Introducing the WareIQ App Store: Streamline your eCommerce Fulfillment and Shipping Operations

Businesses have myriad needs which vary from one organisation to another, as well as evolve rapidly over time. To enable our esteemed customers to augment the WareIQ platform further, aligned with their logistics workflows, our team of experts has designed a suite of powerful applications. Based on your valuable suggestions, we realised that it may become cumbersome for you, at times, to hunt for the applications unless we organise them into a single point of access. Hence, we are delighted to launch the WareIQ App Store, making it extremely easy for you to discover the apps that you need at your fingertips at the right time. How does the WareIQ App Store Help You? When you visit the WareIQ App Store, you get the flavour of a superior design and ease of experience, with convenient navigational tools, fed with live data of your business performance. Let's dive deeper to understand the massive range of capabilities of the WareIQ App Store and what it means for your business. Provides you with more tools in your arsenal to boost your eCommerce operations amd make supply chain your competitive advantage.Acts as centralised portal, empowering you to manage all the stages of your eCommerce fulfillment and shipping operations from WareIQ platform directly.Shed down the inefficiency, inconvenience and complexity of working on multiple non-integrable apps. Our suite of powerful applications can easily integrate with your eCommerce workflows and systems, thereby opening new avenues to scale up your business.Leverage AI-ML powered analytics, fed with live data, for smart demand planning, smart inventory placement and network optimisation to enable same/next-day delivery for our customers.Helps you reach out to your customers on the right channel at the right touchpoint, and build trust with your customers through transparent communication and seamless engagement.Build customer loyalty by ensuring a delightful post-shipment experience for your customers. Top Apps to Check Out on the WareIQ App Store It may look confusing to you at the first glance, which app to use for which purpose. To make your task easy, here's a detailed analysis of each of the apps on the WareIQ App Store. Branded Tracking Delight your customers with a premium post-ship experience through a Branded Tracking page built with capabilities such as re-targeting and cross selling to increase your revenue. Turn your order tracking page into a profitable marketing channelImprove your products and shipping operationsIncrease customer engagementIncrease customer satisfactionCustomized branded pages Sample Branded Tracking Page There are several benefits of using the Branded Tracking application on the WareIQ App Store: COD and NDR Verification - You can easily verify Cash on Delivery collections by the delivery person and get Non Delivery Reports at your fingertips, so that you are always ahead of your competition on the vital performance metrics.Showcase Product Banners to your customers - Product Banners create a long-lasting impression of your products on your target customers' minds, enabling greater brand-recall and mindshare than your competitors. Gather feedback from your customers - Collecting feedback from customers just after the delivery helps you understand the pain-points of your customers, so that you can work on the weaknesses immediately.Create Brand Awareness - Creating brand awareness will increase customer loyalty, drive up-selling and cross-selling opportunities and boost word-of-mouth for your brand. Link-backs to your store - Store links that redirect the customer to your online store help to drive repeat sales and reinforces customers' confidence on your brand and products.Live Tracking and Updates - Provide full shipping journey and real-time order updates on the tracking page, so that you maintain the highest levels of transparency and trust with your customers, avoid unwarranted misunderstandings. It is very easy to create and customise your own Branded Tracking Page. Click here to learn how you can do it. Notifications It is well-established fact that customer loyalty can be effectively boosted through frequent and transparent communication with the customer through the product fulfilment process. It also helps to reduce the number of grievances and support tickets raised by customers from time to time. With Notifications application on the WareIQ App Store, you can significantly enhance customer engagement through effortless communications, and deliver an impeccable post-purchase experience to your customers through AI-ML powered Notifications and WhatsApp automation. This helps to: Increase customer satisfactionBuild customer trustTransparency in the shipping processIncreases the delivery success ratePre-empt EscalationsReduce unnecessary customer support calls There are several benefits of using the Notifications application: Send timely order updatesCommunicating cutomers about the delivery scheduleUpdating customers about their orders regularlyCreate brand awareness and drive cross-sell opportunitiesSend order updates to your customers on the particular events that you wishGet your business and operations related notifications Customer Feedback Customer Feedback App can get detailed reports on the WareIQ dashboard for brand performance based on the feedback collected from your customers, which will help you to: Increase customer retention and loyaltyImprove customer satisfactionAnalyze customer sentimentMeasure and improve the brand perceptionIdentify unhappy customers proactively You reap some major benefits by using the Customer Reviews app on WareIQ App Store: Gather customer feedbackAct on customer escalations in real timeCollect customer feedback on brand and shipping experience Weight Lock Predicting the final dimensions and weight of the ordered consignment is a tedious and almost impossible task. However, courier partners maintain stringent pricing policies across different weight and size ranges, making it difficult to handle such issues. With the Weight Lock application on WareIQ App Store, you can freeze the weights of your products to eliminate the hassle of weight discrepancies and ship products without worrying about the weight discrepancies. This will definitely help to: Avoid repeated follow-ups with the courier partners over the weight discrepanciesGet accurate shipping cost so that you can do the cost planning before handSave your time and effort on negotiations for weight discrepanciesBring uniformity to streamline your business operationsMake your operations more efficient with Weight Freeze However, there are some product-level pre-requisites for setting up the Weight Lock app:- Dimensions of the productWeight of the productProduct Images Click here to learn how you can easily add Master Products, upload their dimensions, weights and other details. Shipping Badges Shipping Badges appear on your product pages that helps customer check pin code serviceability and the expected delivery date for any product. Why Shipping Badges App? Check pin code serviceability and the expected delivery dateGet upto 30% increase customer conversionsIncrease the trust of your brand Benefits of Shipping Badges App: Drive sales for your productsShow estimated delivery timeReassure customers with prime-like badges on your website You can use this app to: Check real-time inventory availability of the productIdentify the nearest warehouseCheck for the fastest available shipping timeline across our logistics network IVR Calling New-age eCommerce customers prefer to remain connected to the sellers through time-saving modes of communication such as direct calling, but at the same time, they are concerned with their privacy. Similarly, eCommerce business and customer success managers are often exhausted with telephonic intrusions on their personal mobile numbers. To alleviate these worries, now you can leverage the IVR Calling feature on WareIQ App Store as a command centre to connect with your customers and provide lightning-fast reconciliation, without revealing your telephone number. The feature helps you to: Record conversations and track them on order basisEmpower customer teams to seamlessly address customer grievancesEnable a privacy-first approach by keeping your contact details and customer conversation details private RTO Shield RTO Shield gives the eCommerce/D2C businesses a complete checkout strategy to save on RTO losses and boost your revenue Why WareIQ’s RTO Shield? Claim refund for the shipping cost of any RTO order that was predicted safe by usTechnology based smart COD checkout option to detect risky users and save on shipping costsAutomatically disable COD for untrustworthy and blacklisted customersDuplicate orders identification and eliminationShipping Address Verification and smart shipping decisions based on the completeness of the address Benefits of RTO Shield: Improve conversion rates and reduce cart abandonmentFastest checkout experience, checkout under 10 secondsIntelligently identify high RTO risk customers from data sets comprising of telecom, banks, hyperlocal, and OTTIdentify abusers with the help of historical behaviour data on past buying behaviour and win over fraudsters How does it work? Integrate the application with WareIQ3 months historical data would be needed to train the model & generate accurate predictions.Go live in 3-5 days WareIQ RUSH Online businesses can offer Same Day Delivery to their customers and accelerate their online sales with WareIQ Rush. WareIQ RUSH allows eCommerce & D2C businesses to reach a larger audience in a shorter period of time (within one day) by empowering them with a strong nationwide network of fulfillment centers and micro-fulfillment centers near their customers.  Why do you need WareIQ RUSH? Capture impulse buying behaviour of your customers by giving them shorter delivery timelinesReduce cart abandonment rate by giving express delivery to your customersAvoid cancellations due to delayed delivery and deliver the orders within hoursDeliver the COD orders quickly to get the remittance earlyGive a delightful and hassle-free experience to your customers that they can remember Benefits of WareIQ RUSH: Reducing delivery times - Ensuring your fulfilment centres are well-stocked so that you can reach a larger audience in a shorter period of time & offer same day delivery serviceReducing costs - Save resources spent on establishing infrastructure and store your inventory in fulfilment centres as per your business needsImproved customer satisfaction - With WareIQ’s prompt response times, you can ensure timely deliveries and greater brand reliability translating to satisfied customers Conclusion WareIQ offers a full-stack fulfillment platform for eCommerce companies to offer same day and next day delivery to customers – an Amazon Prime-like experience but accessible to everyone. With a strong nationwide network of fulfilment centres & urban dark stores near to end-customers and access to all major national & hyperlocal last mile couriers at discounted rates, WareIQ has established itself as a reliable partner for many reputed eCommerce players across the country. The easily integrable centralised tech platform has been extremely helpful for our customers. With the arsenal of business tailored apps on the WareIQ App Store, you can now choose which app to use to supercharge your supply chain operations. The 1-CLICK App-Integration experience is opening new avenues to scale up business over an inefficient & complex ecosystem of integrating multiple standalone business applications.While you can choose & drop apps as per your business usage in a completely hassle-free experience, you can get working previews of the apps through free trials, and subscribe as per your usage. These smarter apps powering same/next-day delivery help leverage AI/ML intelligence for areas, such as on-demand planning, smart inventory placement and network optimisation. Sign Up Now with WareIQ to avail our superior fulfilment tech platform & enhance your online business growth.

March 25, 2022