In the context of the strong development of e-commerce, understanding tools supporting sales such as SPayLater is extremely important. Join Lameco, analyzing the pros and cons of SPayLater for sellers on Shopee in this article.
Overview of SPayLater
SPayLater is an interest-free installment service for customers shopping on the Shopee e-commerce platform. With this service, buyers can experience shopping without worrying about upfront payment issues. For sellers, SPayLater could be a useful tool to attract customers and increase convenience for buyers.
Benefits of SPayLater for Sellers
- No additional costs incurred when participating in SPayLater.
- No risk burden if the buyer fails to pay on time. The full order amount will be paid to the seller by Shopee immediately after the buyer confirms receipt of the goods.
- Increase in new customers and purchase frequency at your store.
- Can still participate in promotions and use vouchers on Shopee.
- Customers using SPayLater tend to have higher order values and total monthly purchase values compared to regular customers, helping to increase order values, reduce rejection rates for high-value purchases, improve sales volume, and conversion rates.
- The full order amount will be credited to the seller's Shopee account immediately after the transaction is successful, without needing to process through another app.
Drawback
Regarding return/refund policies, orders paid with SPayLater currently do not support partial refund requests before the buyer clicks "Received Goods."
Conclusion
If you are currently selling on Shopee or planning to open a store, don't miss the opportunity to leverage SPayLater to increase sales and enhance the shopping experience for your customers. Our team of experts at Lameco - a provider of comprehensive e-commerce solutions, is ready to advise and support you in maximizing the potential of SPayLater and other new features on Shopee.
Contact us today for a free consultation!