"These flowers, which were splendid and sprightly, waking in the dawn of the morning, in the evening will be a pitiful frivolity, sleeping in the cold night's arms."
Accepting Payments Online: An ECommerce Web Site Overview There are a seemingly infinite number of choices and configurations to accepting payments online. Choices range from almost total "do it yourself" programming to turnkey packages.You can accept online payments from an ECommerce Web site in two general ... An Arm & A Leg for eCommerce? As a site designer myself, I realize how much time and effort goesinto registering, setting up, and designing a site; not to mention thecreation of content and seamless navigation. But it is unbelievablehow complicated and expensive this process has ... An Ecommerce Internet Merchant Account Small business owners and home based entrepreneurs sometimes reach the point where they realize their company is ready to grow, and then they begin to consider the advantages of an ecommerce Internet merchant account. Those who accept merely cash or check ...
Reverse Logistics in eCommerce
This is where many online retailers drop the ball; specifically with the processing and communication management of consumer returns. By incorporating new strategies to optimize this process, retailers can increase customer retention and add new revenue streams to the direct business. Here are some key metrics to support the return optimization business case: • 85% of customers say they will stop buying from a retailer if the returns process is a hassle (Harris Interactive) • 95% of customers say that they will likely shop with a catalog or internet retailer again if the returns process is convenient (Harris Interactive) • 40% of shoppers don't buy online due to returns difficulty (Jupiter Research) • Customers who have their complaint resolved quickly have a re-purchase intention rate of 82% (McKinsey) The increased importance of online returns Returns are an inevitable fact of online retail. As the depth of online product categories became apparent in the last three years, the importance of online return policies became painfully obvious. Provide a bad returns experience and you undoubtedly reduce the chance of a customer coming back for a repeat purchase. For example, sectors such as high-end apparel, consumer returns reach levels as high as 20% and an efficient returns process is critical to overall success. Quicker inventory cycles and fluctuating retail prices make it important to not only process the return effectively for the consumer, but also get it in the warehouse quickly for re-sale. Reverse Logistics solve fundamental business problems Retailers are now being proactive and turning these operational challenges into competitive advantages and incremental revenue streams. By investing in solutions that integrate key platform components and data, online retailers are able to offer self-service return capabilities to consumers. A typical reverse logistics solution allows the consumer to more easily initiate the return by incorporating a pre-paid postage label within the box. This label can be integrated within the packing slip or it can be a separate stand-alone piece. Because the label generation is initiated by the warehouse management system, the label is able to capture key customer information for tracking purposes, both for CSR's and the end consumer. The label provides one primary source of value to the customer - convenience. No post office trip is needed and retailers improve overall customer satisfaction while facilitating the product return to the distribution center. When consumers initiate returns through this process, retailers typically charge them a "handling fee". This fee is typically 20% higher than the postage charge that was provided by the reverse logistics service provider. This dollar spread, between what is charged to the customer and what has been billed to the retailer for postage, generates direct and measurable profits for retailers. Improving communication with online consumers A reverse logistics solution can drastically improve customer communication during the return process. Newgistics is a great example of a reverse logistics provider that has customer-centric communication processes embedded in their overall solution. After a return package is picked up from a consumer location, it is sent to a Newgistics hub for sorting and re-locating. During this process, there are strategic scanning mechanisms used to facilitate triggered and branded communication emails. A consumer receives "retailer branded" email notifications when certain milestones are achieved in the return process, such as: • Return receipt o (Ex. We have received your return and you should get a credit in the following days). • Return Completion o (Ex. Your return has been processed) Quick receipt of these emails enhances the confidence level of customers, reduces inbound customer service calls, and provides another value-added feature to boost the eCommerce relationship. Your company is taking a great risk if it does not provide a great post-purchase site experience. Feel free to contact Trinity to learn more about this type of initiative and how we can help in discovery, scope, and implementation efforts. Craig Smith Trinity Insight LLC http://www.trinityinsight.com
Coremetrics Reports Mixed eCommerce Signals in December MSNBC - Jan 7, 2009 SAN MATEO, CA - The online retail sector in general continued to give mixed signals, showing both strengths and weaknesses, over the holiday retail shopping ...
Managing An Ecommerce Business Meadow Free Press, ID - 10 hours ago Tracking a business’s cycle is easy. All the business owner needs to understand is a few basics, and track how they interact, and how that interaction ...
E-Commerce Tools: Five Ways to Sell Digital Goods Online ECommerce-Guide, United States - Jan 7, 2009 The best news is that you can still spend most of your time in the studio recording or blogging to your fans, as digital goods e-commerce systems tend to ...
