When you ship the particular product to a related customer, you have to make sure that it reaches the address on time, without getting delayed and it must also reach the destination in the best of condition. There are times when the packages get damaged in the transit and until it gets delivered to the address of the customer, the entire liability of the package is of the Ecommerce store. So what can be done to minimize the risks associated with the transit? Based on a recent research by CRISIL, 28% of all products are returned from online purchases. So before you move ahead and look for the options, you need to understand that how you should do it and what are the ways to do it correctly.
- Most of the Ecommerce stores are deviating towards the logistics services that give them no insurance on the goods that are transferred from one place to the other. Depending on the mode that you have chosen to deliver the goods, they might be requiring great deal of security.
- Most of the Ecommerce players in the market think that it won’t be a wise decision to go with the insurance as it might be too expensive to acquire. The truth of the matter is, it is not that much expensive and your Shipments may already be insured till a value of say INR 5000. The cost of insurance may be .50% of the invoice value if it is being availed by the shipping partner.
- As the competition is getting tough day by day, you have to ensure that you stay in the game and how. If you are not able to deliver the products on time to the customer and even if you are delivering the products and they are not reaching in a way they should, then this might put a dent on the reputation of your brand. Some shipping companies have insurance already built into the shipping price, so it is advised to research on this when you are contemplating a tie up with a courier company.
- Most of the courier companies that are chosen the by the big Ecommerce players have limited liability when it comes to lost shipments. So if the goods are lost during the transit, it might take too much of a time to get them recovered. Electronic commerce requires precise planning when it comes to the reduce stress of goods getting lost/damaged.
- Last but not the least, if you are into international shipments, then it makes a lot of sense to go for the insurance. This will ensure that all the goods are secured and even if they get lost during the cargo, you will have them covered under the insurance.
