Once a customer places a confirmed COD order, send a WhatsApp message to them offering a discount if they pre-pay for the same order.ĭepending on your business and the discount offered, 5% to 10% of COD orders will be converted to prepaid. This flow works by incentivising customers to pre-pay for their COD orders. → Avoiding unnecessary damage to fragile items. → Avoiding unnecessary Physical quality check and re-packaging of returned items. → Avoiding unnecessary Blocked Inventory (Items stuck in transit). → Avoiding unnecessary Forward & reverse logistics. Every avoided return has a positive ripple effect of saving cost by Did you know that the return rates of COD orders are 300% to 500% higher than prepaid orders? → It can improve the customer experience: Incentivizing customers to prepay for COD orders can make the purchasing process more convenient for customers, as they will not need to pay for the order when it is delivered. → It can reduce the risk of non-payment: Customers who prepay for COD orders are more likely to follow through with their purchase, which can help to reduce the risk of non-payment. → It can improve cash flow: Receiving payment in advance can help merchants improve their cash flow, as they will have the funds available to cover the cost of fulfilling the order. → It can reduce the risk of fraud: Prepayments can help to reduce the risk of fraud, as the merchant can verify the customer's payment information and ensure that the order is legitimate. As a merchant, push for prepaid orders whenever you can.
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