Demonetisation has affected many in the online retail industry. The ban on old Rs.500 and Rs.1000 notes brought COD orders to a grinding halt with marketplaces suspending this payment feature. In terms of online retail sales, there was a 30% drop.
The etailer Snapdeal revealed that it was affected by the government’s decision to demonetise. But along with other marketplaces, the etailer is showing its support towards the government’s decision to fight against black money in the country.
Since it is the sellers who are ultimately affected by this stance, Snapdeal decided to waive the charges on COD returns after demonetisation. In an email to its online sellers Snapdeal wrote:
To support you against any possible business impact resulting from the recent demonetization move, we will bear all logistic and packaging cost against COD orders (with selling price of Rs.500 and above) that were marked ‘Returned to Origin’ (RTO) between 9 and 15 November, 2016. We will consider RTO of COD orders that were placed and verified on or before 8 November, 2016.
Any debit for logistic and packaging charges against COD orders marked ‘RTO’ between 9 and 15 November, 2016, will be credited back into your account within seven days of the date of debit. You would also be able to view the reversed amount at a suborder-level in your corresponding payment advice.
Additional measures to aid online sellers
To assist online sellers even further, the online retail portal introduced a few new measures. They include:
Integrated FreeCharge Wallet with COD
Snapdeal has launched ‘Wallet on Delivery’ to allow buyers the convenient option of paying via its mobile wallet Freecharge. This can replace the COD payment option to avoid payment issues.
Increased Delivery attempts of COD Orders
The COD delivery attempts by Snapdeal have been increased. This way, buyers are given sufficient time to pay for with the valid currency notes.
Expanded location coverage of card swipe machines
Card swipe machines have been introduced in more locations to enable easier payments. These will accept credit and debit card payments for COD orders.
Do you think Snapdeal is handling the situation well? Which other marketplace is? Let us know in the comments section below.