Monthly Archives: June 2022

“Precaution is better than cure,” isn’t that one of the most overused phrases? But we have cliches for a reason. Even with the best efforts, things can go wrong, especially in e-commerce. And rather than being sorry later, it is better to be safe first. And this is where shipping insurance in eCommerce comes in.

When it comes to shipping insurance, you probably have too many questions and too many doubts. Insurance in itself is an investment, and you cannot be too careful where you put your money.

We will help you understand all the factors and dispel any myths surrounding shipping insurance in eCommerce.

Without much preamble, let’s get some facts straight.

What is Shipping Insurance in Ecommerce And Do I Really  Need It?

Shipping Insurance in eCommerce

In simple words, it is insurance, similar to any other insurance policy, where you get monetary compensation if packages get stolen, lost, or damaged while in transit.

Whether your packages are shipped individually, in larger quantities, or as a whole cargo or freight, you can choose to protect them.

Is it really necessary to have shipping insurance?

Yes, the chances of parcels getting stolen or lost are pretty less if you choose the right shipping courier service, but still, the risk remains. Unpredictable situations and unannounced curveballs may still hit you.

You won’t incur many losses if the products in transit are of less value. But, what if a customer has purchased a delicate but expensive item, and it got damaged.

For such situation, what are your options? Either a refund or a replacement is given to the customer. In any case, you must pay the cost out of your own pocket. And if you are unable to do so in a timely manner, you risk tainting your reputation as well as losing the customer’s trust.

However, having shipping insurance in eCommerce will aid you in recovering the loss and ensuring that you replace the products and deliver them on time.

What are the Benefits of Shipping Insurance in Ecommerce?

Safety blanket

Having insurance can mean the difference between going bankrupt and having an opportunity to recover. You may face a significant monetary loss as a result of serious damage to your cargo due to unforeseen circumstances, which could result in a financial crisis.

While shipping insurance may not cover the entire loss, it can at least help you get things rolling and start over.

Peace of mind

Once you have your goods insured, you don’t have to constantly fret about them getting damaged, lost, or stolen.

This sense of security brings peace of mind, which is essential when you have hundreds of problems running through your head.

Thanks to the shipping insurance in eCommerce, you have one less thing to worry about.

Customer Satisfaction

In any eCommerce business, customer satisfaction should always come first. A poor delivery experience may cause customers to become frustrated, and you may lose business as a result.

All of this could be avoided if the product was replaced or reimbursed in the event of damage or other issues. And you can do so immediately if you have shipping insurance in eCommerce.

General Average Cost

This one can be a big hurdle. So, if the shipping carrier is damaged, there is a basic tenet that every supplier must pay a certain amount or their products will not be handed.

This type of cost is referred to as general average costs because the losses are shared by all those who are affected. However, if your insurance covers it, you won’t have to pay anything because the insurer will be responsible.

What Kinds of Risks Can Shipping Insurance Cover?

Here’s something to consider: different types of shipping insurance are available to cover various risks. Before you begin insuring anything, it’s always a good idea to first assess your needs and research the types of risks that are covered before making a decision.

Risk of rejection

If your cargo does not meet customs’ requirements, it could be rejected during international shipping. You could lose a lot of money in such a situation. As a result, you can purchase a rejection policy to cover the loss in full or in part in advance of such incidents.

Risk of physical damage

Physical damage to products can occur as a result of poor loading/unloading operations, or as a consequence of other factors such as cargo being hit by a natural disaster or a road accident while in transit. You can cover the cost of these unforeseen circumstances with the physical damage insurance.

Risk of exhibition

You may need to send your products all over the world for exhibitions and promotional events. This allows potential customers to see the product up close and personal.

It does, however, expose it to a set of threats, some of which may or may not result in damage. You can purchase shipping insurance for eCommerce to prepare for such scenarios.

Damage to stocks

If your goods are damaged while being stored in a warehouse or while being moved to it, you can get stock damage insurance to cover those losses.

What Kinds of Shipping Insurances are there?

Typically, there are four shipping insurance.

• Third-party insurance

• Self-insurance

• Carrier insurance

• Declared value coverage

Now, before you buy insurance from any company, you have to be careful about certain things.

Factors to Consider Before You Choose a Company For Shipping Insurance in eCommerce

• In the matter of filing claims, you will notice that every company has its own list of norms. Before you initiate, make sure you know everything there is to know about the rules.
• It’s usually a good idea to become familiarised with the terms and conditions of the company you’ll be working with. If your claim does not fall under some specific circumstances, it is possible that it will be denied.
• Keep in mind the timeframes for filing claims; they can take a long time to process. To be safe, do it right away in the event of damage or loss.

Summing Up

Shipping insurance in ecommerce is, no doubt, important. But knowing when, where, and how much to insure is equally so.

At Parceldeck we ensure to deliver your package swiftly but safely. In addition, if you want to know more about shipping, read: How Can You Make Shipping for eCommerce Sites Easier?

Ecommerce shipping is an ever-evolving and ever-expanding part of the online business. There’s always much to learn but not enough time to sift through every nugget of information. Everywhere you will see advice, tips, and lists on what to do and what not to do. While this can be helpful, it sure is overwhelming. 

That is why we have curated a definitive list of Dos and Don’ts to help you better navigate the world of eCommerce shipping. 

Why is eCommerce Shipping So Important?

To answer that question, first ask yourself, what’s the most important thing for a successful eCommerce business? Customer Satisfaction of course. Happy customers are repeat customers. And to ensure you deliver a smooth experience to your customers, your shipping services should be top-notch. 

Shipping is the last link that will directly connect your brand with your customers and represent it.  A positive experience will reflect positively but a negative one will have consequences on brand reputation, trust, customer retention, sales, and such. 

All this to say, the importance of eCommerce shipping cannot be overstated. You will have, not only, immediate but long-term benefits by properly investing your time and resources in eCommerce shipping. 

However, before you take any actions, it’s better to know beforehand what to do and what not to do, and that will help you strategize.

The most handy list of dos and don’ts for eCommerce shipping

List of DOs for eCommerce Shipping

•  Keep shipping rates as low as possible

One sure way to drive off customers is by charging high shipping rates. To compete against big retail giants such as Amazon and like, keeping your standard delivery rates as low as possible is a must. Thanks to them, customers have come to expect free shipping on their orders. 

While you will face monetary losses for individual orders, you have to think of the big picture. Never lose the forest for the trees. 

However, you do not have to offer free shipping on every order. That is like running straight into a financial crisis if you do not have enough budget. Offer free shipping during promotions, festivals, or above certain maximum orders, and such. Give it as an incentive. 

To help you ship your orders at an affordable cost and keep a healthy margin, you can check our services. Parceldeck has the lowest rates in the industry for eCommerce shipping. 

•  Invest in Packaging

It is not just an essential but an integral part of eCommerce shipping: doing your packaging right. It will save you a ton of money on damaged products. And besides, hardly any customer will appreciate shabby packaging. You need to be extra careful on delicate and expensive items. To know more about packaging, read our blog on,  Common packaging mistakes made by eCommerce Businesses

When it comes to investing in anything, you should be extra careful, right? That is to say, be aware of where and how your money goes when it comes to packaging. For example, using large boxes for small items is a big no-no. 

On other hand, it does not always have to be about practicality. 

Yes, that box does not have to only carry the orders but can be a great marketing tool. It is your chance to represent your brand through clever and unforgettable design, logo, or tagline. 

•  Automate to cut down costs and work

Let’s be real, eCommerce shipping involves m any repetitive, mundane tasks, whether it is managing orders, keeping track of them, or simply writing shipping labels. All of those can be easily automated and in turn can save your and your employees valuable time, which could be applied to more productive and strategic work. 

Indeed, as the demand grows and your company expands, automation is the only solution to keep up and scale up. 

•  Provide shipment tracking

There should be no uncertainty and anxiety in customers’ minds regarding their orders. They should know exactly where their order is, and when to expect it. For that, provide order tracking services to your customers. 

Now that we know what we must do, let’s look at the list of what not to do. 

List of DON’Ts for eCommerce Shipping

•  Don’t overpromise and underperform

While it is natural to offer promises of discount rates, free shipping, and expedited delivery to entice more customers, it is all a waste if you cannot actually deliver on those. 

You might attract customers, but you can hardly retain them without putting your money where your mouth is. Therefore, be realistic with your goals and be smart with your decisions. Transparency with your customers will take you a long way. A loyal customer base is always better than a large but short-lived surge in sales. 

•  Don’t neglect your customer service

We might sound like a broken record but customer satisfaction is where it is at. And customer service is the bridge that will connect their voices directly to you. Ignoring their grievances, complaints, and even negative reviews will slowly but surely impact trust in your brand and ruin its reputation.

If your customers have no way of reaching out regarding their orders thanks to bad customer service, that is a big loss for your business in the long run.  

•  Don’t wing your eCommerce shipping

Not being prepared and not anticipating demands will have you losing out on big opportunities and growth. Also, not having a proper strategy will greatly reduce your chances of scaling up. 

Proper planning and research will go a long way. It will help you know your areas of growth and what mistakes to avoid. Not every customer is looking for free delivery, they will rather have it sooner and pay extra. You can only know this and act on it when you have a solid strategy in place. 

•   Don’t charge for return orders

Returns should be processed smoothly and quickly without being charged anything. It should be simple and convenient.

To Sum Up

Yes, eCommerce shipping can be hard but it does not have to be overwhelming. By doing the right things and avoiding the wrong ones, you can simplify the whole process a great deal. Here at Parceldeck, we always aim to make shipping as convenient and economical as possible. 

Of all the solutions available in the market, there is but one that could dramatically improve your eCommerce business: knowing how to manage your inventory. The use of inventory management software for SMBs is the guaranteed way to grow and expand your businesses. 

Not convinced? 

Let us explain. But first, 

What is Inventory Management Software for SMBs?

Managing inventory or as it is called ‘inventory management, is a process where you keep track of your stock and systematically store, order, and control it. 

This will prevent you from running out of stock or having dead stock. ( products that don’t leave shelves for extended periods of time), and thereby maintain a healthy profit margin. Definitely not easy, but extremely important.

That’s where inventory management software for SMBs comes into play.

By automating some parts in the warehouse and inventory management, the software makes tasks easier to streamline, which helps to properly maintain inventory, reorder stock, and keep account data updated. It will boost the efficiency and performance of your business’s daily operations.

Now, how can it enable you to grow your business? Let’s take a brief look at the benefits of using inventory management software for SMBs.

Key Benefits of Inventory Management Software for SMBs

• Reduce the possibility of human error. The software allows you to automate those daily routine tasks that are prone to errors, such as address labeling or account upkeep.
• More productivity. Because you’ll be managing your inventory in a systematic manner, you’ll save time and resources while getting more done. As a result of the management tools, the period it takes to process, audit, and track your goods will be greatly reduced.

• Integrate your accounting software. Yes, some inventory management software for SMBs can easily be integrated with your accounting software. Alternatively, they may already include accounting features. This will help you in avoiding any accounting mishaps.
• Guide to success. The best part? It will help you in maximizing your profit. You can identify which products are currently in high demand and which ones should be dropped using the software’s tracking tools. This will ensure that you make better decisions and are at the top of your game.
• Cost Reduction. There is a flawless process and orders are processed fast because there is no time lost.  Result? more sales.  Your resources are not being wasted. You’ll know exactly how many units of each product you require, as well as which stocks are frozen.

 5 Inventory Management Software for SMBs You Must Consider

Fishbowl Inventory Software

Say no to long excel sheets. Fishbowl makes keeping and managing your accounts simple and convenient. With its many advanced tools and features, this inventory management software for SMBs will make both inventory and warehousing management easier. Automate all of your asset management processes: quote, order, and purchase with simplicity.

Use it to:

• To avoid stockouts, use reorder points
• Automate order creation using their CRM, EDI, and eCommerce integration, among other features
• For bills of materials, advanced work orders, and barcode scanning
• Easily track parts using different factors ( for example serial numbers, expiration dates, etc)

Zoho Inventory 

This is a must-include software in any list. It is one of the biggest inventory management software for SMBs available in the market.

Use this to streamline and keep track of your inventory. This is a one-stop solution for all the inventory operations: manage orders, oversee warehouses, handle GST billing, and much more. 

Features:

• Ease of use and intuitive navigation
• Allows you to keep track of products, set up reorder points, and mark favored vendors
• Inventory control across several sales channels
• Multiple shipping integrations
• Advanced bundling and kitting features

Ordoro

Ordoro is another excellent option for inventory management software for SMBs as it is comparatively less expensive and packs more features. It’s perfect for drop shippers as well as volume sellers.

Besides the slew of features, it is the most user-friendly. There is no need to download the software because it is accessed via cloud services.

Features:

• Get alerts when stocks are low, and place purchase orders with listed vendors
• Receive orders for several products with different SKU
• User-friendly interface and excellent online help in the form of guides and videos
• Multiple warehouses are supported

Cin7

Another cloud-based inventory management tool with a host of amazing features to take your business to bigger heights. 

If your business has a multichannel distribution approach, Cin7 should be your go-to solution.

Features:

• All-in-one platform for containing cost
• Extensive real-time data and reports on sales, costs, and stock levels with configurable KPIs
• Get rid of manual entry thanks to automated reports
• Compatibility with all the hardware devices you might need such as receipt printers, and barcode scanners
• Connect your point-of-sale (POS) software to your inventory management system so that your salespeople can make sales straight from your warehouse or from products in transit

Orderhive

This low-cost inventory management solution is designed particularly for eCommerce businesses.

The most helpful and important feature for your eCommerce is that the software integrates with many third-party services and has excellent returns management.

Feature

• Accounting integration and barcode scanning
• Let’s you track cost
• Automated billing and invoicing
• Inventory tracking and auditing
• Point of Sale(POS), kitting, real-time data
• Third-party integrations

Some Common Features to Look for

Every business is different. The best inventory management software for SMBs from the list for you will be the one that meets your unique needs. All of them have many different features.

But whichever software you choose, there are certain features it must have. Such as,

• Inventory catalog
• Automated reordering
• POS integration
• E-commerce integration
• Barcoding
• RFID 
• Detailed reports
• Tracking

Summing Up:

Inventory management software will undoubtedly make a huge impact on how you manage your business and will greatly aid you in expanding it. All you have to do now is select the right one. 

Therefore, take your time and carefully weigh all of your options before making a decision.

Similarly, shipping is also a big part of any business and with it comes many challenges. To tackle those, read our blog Shipping Challenges and their best Solutions for Ecommerce in India