Lost and damaged products are detrimental to the seller’s business. These can be financially daunting as the seller has to bear the cost of logistics and a fresh product to the customer. And when talking logistics includes both forward logistics, returns, and the freight charges. Moreover, lost and damaged products can further hamper the sellers’ reputation and impact their business growth.
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Why Securing a Shipment is Necessary for eCommerce Businesses
Securing a shipment with appropriate safeguards is a crucial aspect of eCommerce business, especially in the Indian market, where the number of online shoppers is rising. According to a CII Shiprocket report, the number of online shoppers in India was 190 million in 2021 and is expected to witness an 11% CAGR by 2030 is projected to reach 500 million online shoppers by the end of the forecast period of 2021-2030.
Here are some reasons why securing a shipment with an insurance policy is helpful for sellers in the Indian eCommerce sector:
Protects Against Losses
One of the main benefits of securing a shipment with proper cover is that it protects sellers against losses due to unforeseen circumstances, such as lost and damaged products of the shipment during transit. This helps sellers ensure that their business does not suffer financial losses due to such events, which can significantly impact their profitability.
Enhances Customer Satisfaction
Another reason why securing a shipment is useful for sellers and eCommerce retailers is because it enhances customer satisfaction. Customers expect their purchases to be delivered safely and promptly, and if there are any issues with the shipment, they expect to be compensated for their loss. Having a proper cover assures customers that their purchases are protected and that they will be compensated if anything goes wrong.
Boosts Seller Credibility
For eCommerce retailers, credibility is essential for building trust with customers. Customers are more likely to purchase from sellers with good courier partners and a history of delivering their orders safely and on time. By securing a shipment, sellers can demonstrate to their customers that they are reliable and take their business seriously.
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How can Sellers Claim the Cover for Lost and Damaged Products with Pickrr Secure Shipment?
Before knowing the claim process, let’s first understand what is Pickrr Secure Shipment? The Secure Shipment is the latest addition to Pickrr’s value-added services or VAS pool. The new product allows the sellers to safeguard all forward shipments with invoice values greater than Rs 5000 against loss and damages. Pickrr’s Secure Shipment allows the sellers to claim the total value of the shipment in case of lost and damaged products.
Now let’s look at how a seller can claim compensation for lost and damaged products.
In case of lost and damaged products, Pickrr’s team is intimated. Once the intimation is made, the team will raise the concern to the respective department to ensure that the sellers receive the full value of their product. To raise the claim, Pickrr would ask for the following details from the sellers:
- First Name
- Last Name
- Phone Number
- Email Address
- Your address (Address Line 1)
After raising a claim, the concerned team will process the shared information and approve the seller’s claim.
Related Article: Lost and Damaged Products: How Brands can Avoid Losses
How can a Seller check the Status of the Claim?
All the secure shipment policy communication will be shared with the sellers via email as the policy progresses.
A seller would receive the communication upon the following stages:
When a seller receives a policy approval email, it means that the courier company has picked up the secured shipment and the policy is now active, i.e., in case of lost or damaged products, it will be covered under the secure shipment policy.
This status means that the policy against your lost or damaged products has been raised with the concerned team and is subject to approval or rejection.
Claim Approved or Rejected
This email intimates the concerned team’s approval or rejection of the claim.
Once the approval of the claim is confirmed, the amount will be transferred to the seller’s bank account.
Securing the shipment of lost and damaged products has become quite essential for eCommerce businesses today. Not only does it help in safeguarding the products from wear-and-tear while in transit, but it also helps in improving customer satisfaction, seller credibility, and overall brand image amongst the customers.
Secure Shipment is the latest VAS product introduced by Pickrr to ensure the sellers can get the complete value of their forward shipment in case of lost and damaged products.