One of the most common topics onboarders cover with our members is the buylist and Restock features of their admin. So for today’s entry, we want to share the benefits of creating a buylist and utilizing the Restock tab in your admin.
Before moving forward, it might come as a surprise to many of you that not every one of our members had heard of the term buylist until they have decided to open a store. A buylist is a set of products that store owners are willing to buy from customers at a set price. These products are usually listed in store websites and the payment your customers receive can be in the form of store credit for online transactions or cash and/or store credit for in-store transactions.
Your Crystal Commerce website comes with a buylist section that is integrated into the Inventory and Restock tabs of your admin. In your admin, open the Buylist Settings in the rightmost subtab of your Restock tab to:
1. Set the type of payment your customers can expect when using your buylist
2. Increase your store credit multiplier
3. Email customers automatically while you are waiting for their products
4. Cancel buyorders automatically after a certain number of days
Encouraging your customers to receive store credit reinforces your relationship with them in two ways:
First, it adds to the list of customers in your admin. This list can be exported in a comma-separated value or CSV file so they can take advantage of coupons or campaigns you created in the Advertising tab of your admin. Imagine having a list of 200 eBay and Amazon customers, 100 buyorders, and 150 direct orders. If only a quarter responds to your marketing email that is still about 112 customers that responded to your marketing campaign. Check this article out to review the email marketing tool in the Advertising tab of your admin.
The second way that store credit reinforces your relationship with a customer is by adding a layer of retailer-seller interaction that cycles back to your retailer-buyer relationship. Since store credits are also not usually spent to the exact amount, customers end up spending additional money to bridge the cost of their purchase when it is over their store credit.
As you can see, by creating a buylist you are not only restocking your inventory, you are also developing loyal customers and increasing brand awareness.
Crystal Commerce has made creating a buylist easy. All you have to do in your admin is check for three things to show a product in your website’s buylist.
One, customers would want to see how much they will earn if they sell. Have you established a Buy Price? Two, if your optimum quantity is less than your current quantity that means you have enough products to sell and there is no need to purchase additional products. Is the optimum quantity of your product greater than your current quantity? For your, Buy Price and Optimum Quantity, you can manually find each product or push a batch update to a set of products. Finally, hiding a category in your buylist should only apply to products you do not want to buy from customers. Are the parent and child categories of the product in question hidden from the buylist?
Let us check one of our admins to see if they have products in their buylist by checking the Currently in Buylist Box in their inventory. Using this feature allows you to view your buylist without checking your website. As you can see, this admin met all the criteria. If you do not see a product that should be on this list double check the 3 items I mentioned above.
Once you have a buylist, customers in your website can browse and sell their items to you. Do not forget to enable your notifications for buyorder under your Account – Notification settings. When you have a buyorder from your website it will show up in your Restock tab. This tab is generally the same as your orders tab but Restock has a Grading tab for the items you receive. Once graded, your customers receive an email on how you received the product they shipped to you and adjusts the expected cash or store credit they earned.
Let’s recap, buylist is set of products you want to purchase from your customers at a set price which you would post on your website. The benefits of having one includes:
1. Increased marketing opportunity
2. Additional interaction with your customers
3. And of course, restock your inventory.
For more best practices, tips, and tricks subscribe to our CCNN videos on YouTube and join our community forum at crystalmembers.com.
If you have topics you want us to feature email us at firstname.lastname@example.org.