How to define Business Terms for an eCommerce website?
When you start an eCommerce platform, the ultimate objective is to get as much business as possible. Yes, the competition is fierce, and you have hundreds of other websites trying to grab the lion’s share. In such a situation, only that company survives which offers the best terms and conditions to the buyers. It is hard to believe the fact, but most buyers read the terms before making a buying decision.
Research has been done in several countries such as the US and Germany, where customer behaviour was studied about the terms and conditions mentioned on the websites. Astonishingly, about two-thirds of the customers are found reading several terms and policies on one or more websites. Statistics prove that the delivery and return policies are the most widely searched. Payment terms are the second most searched items.
Though there hasn’t been a structured study of it in India, the trend should not be different. Terms and conditions mustn’t be ignored in the backdrop of this when you get a smart and sleek eCommerce platform developed.
Unambiguous, clear-cut policies make your eCommerce platform different.
You must understand that an eCommerce platform needs high trust levels than the conventional Brick and Mortar store. The reason is quite obvious. In the traditional shop, you interact with people in person. In the virtual store, you need to rely on the system. Hence, buyers want to be doubly sure about the terms and conditions they can refer to in case of any mishap.
With a great exchange and return policy, and unambiguous terms and conditions about the privacy, service and refund policies; you can be a differentiator in the competitive arena. They are critical from the point of view of customer satisfaction and a basic building block for your business’s legal security.
Hire an expert to formulate the policies
Jotting down policies and terms & conditions is critically vital. Hence, you can’t afford to take a risk by formulating it your own. Better go for a legal agency or a competent lawyer who has been drafting the same for eCommerce businesses.
Don’t get lured by so-called automated policy generators. They are not suitable for a big eCommerce business like yours. Always consult qualified legal agencies to formulate every line clearly and unambiguously.
Terms of Service
Terms of service assure the customers that they are not vulnerable to the virus, spammer or other unpleasant content by accessing the eCommerce website design. It has to be explicit, definite and clear.
Returns & Refund
As stated earlier, Refund and Return policies are the most accessed information by customers. Explicitly formulate return and refund policy so that buyers are sure about your website’s authenticity. Thus, they don’t hesitate in making transactions.