The ecommerce market in India has seen an unprecedented growth in the past few years and is expected to be worth $220 billion by 2025. As expected, with a growing industry comes unique challenges—principal among these challenges is that of returns. Typically, 5%-35% of products get returned to the seller through marketplaces. According to a BusinessWorld report, Flipkart sees 25 million worth of products returned to them across 2015. This obviously leads to immense losses for the marketplace and its sellers.
Retailers, sellers, and marketplaces are typically not set up operationally to manage returns: it isn’t their primary business after all. There are no established processes around quality check, repair, and reselling of such returns. Eventually, this results in dumping of such stock in offline secondary markets leading to losses for everyone. So, what should you do with your online returns?
Talk to Overcart. Overcart is a returns management service provider based out of Gurgaon with processing centers in Delhi, Bangalore, and Mumbai that helps online sellers manage their returns and liquidate them efficiently to ensure highest recovery.
The company manages returned inventory, quality-checks, refurbishes, and sells through its online marketplace and bulk bidding platforms. A client dashboard also provides timely updates on returns processing and sales. The marketplace helps to get 33% more realization value than a planned bulk sale.
The good news is that majority of such returned products can be resold again. Overcart’s analysis of returns over the last two years suggests 93% of returns in electronics are in working condition or can be resold with minimal repair and refurbishment. Its proprietary quality check process ensures that such electronics are restored to original working order before a resale.
The best way to get maximum realization for a product is to sell it to the end-user. Overcart does it through Overcart.com, its marketplace for such products. Certain categories of products such as fashion and home appliances are sold in bulk through an online bidding system. The company has a network of over 500 small businesses, retailers, and entrepreneurs across Tier II and Tier III cities that helps achieve higher realization on such products.
Speaking of his experience with Overcart, D. Kumaresan from Rocky Marketing says:
“Overcart has been incredibly helpful with liquidating inventory that I’ve been stuck with for a long time. They take care of all my returns and have saved me an immense amount of time and money. I can sell online without worrying about returns dragging my margins down”.
So if you’re struggling with returns, reach out to the Overcart team at [email protected] or at 1-800-11-OVER (that’s 1-800-11-6837), or simply go here: http://www.overcart.com/business. As a special offer for IOS readers, selling commission charges are waived for the first month!
Disclaimer: This is a sponsored post and views/opinions expressed are those of the author/company.