Planning to build your first e-commerce WordPress website? That’s amazing! You must have chosen an e-commerce theme, plugins, and other necessary things but you’ve got to take care of one more thing before launching your website.
E-commerce and refund go hand in hand. You must make sure that you have a proper refund policy in place while launching your business. Use a legal pages generator plugin to create the refund policy and other legal pages for your WordPress website.
Why Is a Refund Policy so Important?
Take a look as to why should your WordPress website have a refund policy.
Need for the Policy Statement
Online shopping trends are gradually picking momentum and shoppers are opting to buy online as opposed to traditional shopping trends. The brick and mortar businesses are also converting part of their sales to online sales and setting up e-commerce websites.
With the increase of online shopping, shoppers have always worried about what happens if they are not satisfied with the products shipped to them or the services offered to them. Since no one wants to lose their money on unwanted products and wrong purchases. Shoppers have been seen to incline more in online stores which have an explicit refund policy on their websites.
Such a statement is often found on the bottom part of the site or the legal pages of the website. The benefits that accrue from such a policy on the website are numerous and will only discuss a few of them.
Statement of Confidence
There is a reassuring feeling that is communicated to customers when they see a refund policy on an online shopping website. The customers will have confidence in your brand, and hence you will have more visitors converting to customers.
Potential customers will be attracted by the notion that as a seller you have confidence in your products that you are willing to give refunds for products that are deemed to be of low quality.
Get a Competitive Advantage
A refund policy publicly displayed on a website will give a sense of security to your customers. Chances are most of your competitors lack this policy hence giving you the much needed competitive advantage.
The shopping habits of online shoppers are; They will compare different online retail stores and settle on the one that offers security. Better prices products, guarantee for refunds among other things. Having the policy displayed on your legal pages will have your business among the finalists for consideration.
If the potential shopper has listed your website for offering the policy. The chances of converting such a shopper into a customer are very high. However, this policy alone is not enough to create a strong competitive advantage since your competitors will learn what you are doing different and duplicate the same. You need to offer other policies such as the return policy and confidentiality policy. Shoppers have an affinity for such policy statements.
E-commerce business is solely based on mutual trust between the shopper and the store. Unlike the traditional brick and mortar retail businesses where a customer walks in and established a rapport with the seller, in online shopping. A customer will visit your website, and if they are impressed with your products. He will choose to trust to shop from you if he feels he can trust you.
One way of cultivating that trust is assuring the customer that his money is safe with you and if anything goes wrong, you are willing to issue a refund. Regular online shoppers have also been seen to refer others if they come across an online store they trust or have a good reputation.