Souq.com expects that sellers behave like professional businesses. To lower your Cancellation Rate, there are golden rules that you need to keep in mind these Seller Performance related Best Practices.
Do not cancel, anticipate: Order cancellations drive customers away from you and from Souq.com. As a buyer, you would be irked too. Imagine you order something in the midst of the Holiday season and it’s cancelled for whatever reason. Any customer will find another site or seller to have a secure sale. So
Anticipation, Anticipation, Anticipation! “Better safe than sorry” right?
Inventory Management is Key to reducing Cancellation Rate so update your available quantities in stock frequently on your Selling Center.
You can also think about registering to Fulfilled by Souq.com. Contact your Account manager to activate the service or check out our FBS video for more information.
To see your Cancellation Rate go down and your Rating reach a Premium in your Seller Performance, consider this:
Ensure only qualified and authorized persons are assigned to manage the stocks and orders to ensure quality is controlled and ‘Seller Fault’ is reduced.
Always verify listings data after their creation by either yourself or by the Souq.com Content Team.
Set targets to reduce your cancellation rate by refraining from cancelling orders and listing more buy able products that can convert into 100% confirmed shipped-on-time orders rather than deciding to cancel once the order placed, you will see that your cancellation rate will drop within a few weeks.
Set aside inventory for Souq.com: The best system for avoiding higher cancellation rate is to have dedicated inventory for your Souq.com Sales.
If you are unsure about stock availability when engaging in quantity updates, always list less quantity and if you have more consider those as “reserves.”
Set listings status to ‘Paused’ for any products in your stock that are borderline questionable, or as soon as you detect there is a problem before an order is placed. This should be a regular practice. Remember: Anticipation, Anticipation, and Anticipation!
Make daily inventory updates by downloading, updating and re-uploading your Selling Center inventory report.
If you have stock issues, lower your Souq.com Selling Center inventory by a safety stock of 10%-15% as a safety measure ‘til your inventory issues are sort out. If you update daily you should not have any issues.
Verify Low quantity items and make sure that they’re no longer active on the website once the last item quantity is purchased.
Always Confirm Orders as soon as possible. Refine your processes to confirm orders faster: The quicker you confirm an order, the less time the customer has to think about cancelling an order. This hence helps completing the transaction and fully closing a sale.
List items that you have physical units of, ONLY. Should products be listed and active for order placement and you receive an order while you still do not have physical possession of products, will result in a cancellation and will impact your Cancellation Rate negatively.
Start documenting the causes of cancellations and actions you have taken to prevent future cancellations.
All in all for a medium term positive impact, sell a good product at a decent price and provide good customer service and your Cancellation Rate should take care of itself.