Can I have a step by step guide of what to do if an order is placed on my website? How do I profit from a sale?
- You add a product to your website that has an Item Cost of $54 and a shipping fee of $5 on Modalyst. You adjust the price on Modalyst (via the Pricing Rules or Import List) to reflect a 2x multiple on the Item Cost, and choose not to automatically add the shipping associated with the item. Based on those adjustments, your retail price for this item is $108.
- A customer purchases this item on your website. You earn $113 (inclusive of the shipping you set on your store). Please note that the shipping rate you set on your store may be the average of all the shipping rates of products on your store and therefore may not necessarily equal in value to the shipping rate for that item on Modalyst.
- The order, including your customer’s name and mailing address, is automatically pushed to Modalyst. You then click on “Pay for order”.
- The invoice for this order is then created on Modalyst where you pay the following: Item Cost + the Shipping fee on Modalyst + your transaction fee (which varies based on the Pricing plan you're on). Based on the numbers we chose above, this equals $54 + $5 = $59 + $2.16 (assuming the transaction fee is 2%) = $61.16
- Once paid, you are left with $113 - $61.16 = $51.84 (nearly a 52% gross profit on the sale) which is yours to keep!
- At this point, your work is mostly done! The Supplier will ship the product directly to your customer. They will also provide tracking details which will be updated on your Modalyst account and automatically routed to your store (as long as you're connected via Shopify or BigCommerce).
Do Modalyst Suppliers have a fixed returns policy?
Modalyst Suppliers offer a 14-day return policy for all products ordered on our Modalyst Marketplace. This means that Suppliers are required to accept returns up to 14 days AFTER the product has been received by the customer. In the event of a return or exchange, please message the supplier to alert them. If the Supplier is not responsive within 48 hours, please reach out to our team via our customer chat.
How do I, as a Retailer, deal with refunds in the event of a return?
If for any reason you or your customer choose to return a product to a Supplier, the first step would be to contact the Supplier and let them know. Our Suppliers are generally understanding and responsive and as long as the reason falls within their returns policy, they would be happy to provide you with a refund.
Who pays for the return of the item?
In cases where the customer simply wants to return a product without any legitimate issues with the product itself, you or your customer would be responsible for the return shipping fees. However, if the item you received was damaged or not matching the description on Modalyst, it is fair to request that the Supplier pay for the shipping fees.
What happens if I cannot come to an agreement with the Supplier?
Although rare, if you and the Supplier fail to resolve a refund related issue, let us know and we will review the case and provide a solution that suits both parties. We encourage trying to solve the issue with the Supplier first but our support team is prepared to deal with any and all potential disputes.