There is no doubt that offering free shipping will increase your online conversion rate, but how do you provide it in retail e-commerce without breaking it? May be reduced and you may soon be unable to run your business.
However, there are many ways to make this profitable in retail e-commerce. Maximize profits while competitively earning more sales and new customer acquisition by following some proven techniques in major e-commerce businesses that offer more free shipping on sale. I can. Companies that offer free shipping on their products will ultimately increase their net profit by 15-30%.
When making a proposal, you should carefully consider the risks and potential rewards of your e-commerce business. Free shipping is generally the best psychological persuasive strategy for retail e-commerce businesses. This has a positive impact on order value, quantity, customer loyalty and business value proposition.
Here are some strategies on how to offer free shipping on your e-commerce store and still stay profitable.
Set delivery threshold
If you want to offer free shipping and still operate within the margin, you need to increase the threshold. To qualify, you need to “force” your customers to spend more on e-commerce stores. This will significantly improve sales volume and profitability. For example, if the order value exceeds Rs, provide them. Over 300 in your store. You can also apply multiple shipping thresholds to different product If you are aware that shipping is often cheap and shipping is slow, you can stay profitable by offering it for free at certain purchase and shipping thresholds. For example, if you usually deliver branded clothing within 24 hours and pay additional shipping and shipping charges, you can offer whether the customer is willing to wait at least 3 days for the order.
Provide to repeaters
Offering free shipping to repeaters builds long-term customer loyalty that is essential to the survival of your business. This is especially useful when selling high value products to customers.
Offer free shipping on customer referrals
This is the classic case of killing two birds with one stone. Sell products to customers while acquiring new products. If you want to turn your customers into walking and talking lead generators, or make them repeaters of your product, we can offer you free shipping every time you refer someone who bought your product.
Provided if you have a weekly delivery plan
One of the benefits of a retail e-commerce store is that you have a fixed weekly shipping plan. Products such as fruits, vegetables and groceries are needed daily and customers often buy in bulk and weekly. So here you have a great chance to convert them into a subscription plan with this trick and still save a lot of money.
Offering slow-moving products
If you have products that have been in the store for months, we can offer them. We recommend that you do this for products with wide margins so that you can absorb shipping costs.
Offer on special occasions
Holidays are constantly experiencing a sales boom, further selling by providing shipments for all products purchased on a particular day.
For More Information Visit: Moona
Moona is a UK payment solution that offers £5 discounts to e-shoppers at each order and at no cost for merchants. The advantages of using Moona: Way bigger carts: getting a discount on every order means customers are willing to add more to their carts and come back more often 100% free solution with no payment fees: as Moona’s model is based on a yearly membership paid by shoppers, the solution is currently 100% free for all merchants. Boosted traffic: shoppers are actively looking for retailers where they can get instant Moona discounts, boosting exposure and traffic to Moona’s network of partners. Secure payments: as Moona uses Stripe, one of the safest payment technologies in the world, its customers are protected against fraud. The solution adds an additional layer of authentication that protects them from liability for fraudulent card payments.