Did you know that global retail E-commerce sales will reach USD 4.5trillion by 2021? If you run an E-commerce business, now you can imagine the potential hike in your sales if you know your way around the platform. Cash on Delivery (COD) is one of the indispensable supportive services, every E-commerce business should join hands with. In many contexts buyers prefer COD over online payment methods due to many reasons. Anyhow statistics prove that E-commerce stores which offer COD services attract more online buyers than the ones who are limited to online payment gateways. Here are top 5 reasons why E-commerce businesses should practice COD services.
- Buyers prefer COD than online payment methods
In many situations, buyers would choose COD over paying online. By paying after they receive the product, it brings them the same experience they encounter at a typical brick and motor store. In a market where buyers are hesitant to make online payments, the only way an E-commerce business can survive and make money is by offering COD services.
- Assurance of receiving money
Simply COD means, you receive cash instantly when the product is delivered to customer. Unlike other payment methods which take a certain period of time to transfer the money from customer’s account to your account, COD is real time. Therefore whenever a product is delivered to a customer, you are assured of cash receipt.
- Promotes impulse purchases
At the end of the day, the goal of any E-commerce seller is triggering up the sales volume. There is no other better payment mode that encourages impulse purchases than COD. Because even if your customer do not have cash at the moment, they would still order products from your online site. As the cash payment is not immediate, impulse purchases are very inevitable.
- No space for fraudulent refunds
So many dishonest cash refunds have been reported over the period because of unethical customers. When an E-commerce business offers the benefit of cash refunds in case the products are not delivered to the customer, some customers tend to provide misleading information and get their money back, though they have already received the product. With COD, customers cannot play such dirty games.
- Building trust
For a native market in which online payments are not widely accepted, COD is the ideal path to gain their trust on E-commerce business. Since customers can shop online and pay once they receive the product, it would inculcate trust on the E-commerce seller. Thus COD is the best way to approach a market, where potential buyers are reluctant to engage in online transactions.
GTV Express and Parcel.lk to assist you in COD Services
If your E-commerce business want to practice COD but you do not have the capacity, here you have your ultimate COD partner! GTV Express is one of the most efficient and sophisticated courier services available in the country. The inland courier service of GTV Express is truly an express service which works super-fast to deliver your “Package of Happiness”. With more than 12 amount of customer-touch points islandwide, GTV is fast and affordable. GTV is able to offer unbeatable rates because of its wide-spread branch network and streamlined processes. Parcel.lk is the ultimate global courier service which has partnered with number of international service providers across the globe to ensure you a speedy service. The best thing about Parcel.lk is, you can expect an extremely fast overseas delivery service which does not come with a hefty service charge. If you are an E-commerce business grappling to offer COD services but lack infrastructure and human capital, here we are at GTV Express and Parcel.lk ready to help you. Now you can reach more customers with COD and speed up your business growth with our prompt courier services.