Exchanges Overview

Exchanges are a crucial part of any e-commerce business. They give customers the opportunity to replace a product that doesn't meet their expectations or requirements with a different one that better suits their needs. The exchange feature on WeSupply Labs is a powerful tool for businesses, helping them improve customer satisfaction, reduce return rates, and manage inventory effectively. By understanding and utilizing this feature, businesses can significantly enhance their post-purchase customer experience. Currently, the exchange functionality is available only for Shopify and BigCommerce stores.

In this article, we`ll cover how to enable the exchange functionality on the WeSupply Labs platform, what types of exchanges are available and how can an exchange request be processed.

 

A. How to Enable the Exchange Functionality?

Step 1
Log into your WeSupply account and navigate to the 'Settings' tab located in the main menu.

Step 2
Under the 'Settings' tab, you will find the 'Return Methods' option. Click on it to proceed to the next step.

Step 3
Under 'Return Methods', click on 'Advanced Settings'. This will take you to a new page where you can manage various return settings.

Step 4
Scroll down the 'Return Settings' page until you find the 'Order Exchange Processor' option. Ensure that this option is enabled. If it isn't, click on the toggle button to enable it. Please note that currently, the functionality is available only for Shopify and BigCommerce merchants.

Step 5
Click on `Back to returns` and then select 'Return Logics and Policies'.
Step 6
Edit your existing return policies or create a new one.

Step 7
Under the 'Exchanges' section, you will see an option that says 'Allow exchanges for the product'. Click on the 'Enable' button next to it. Now, configure your exchange setup by setting up the following:
- Exchange Window - represents the number of days during which exchanges can be made.

- Decide whether you want to allow exchanges for out-of-stock items. If you do, enable this option.

- Set up your inventory threshold. This is the minimum inventory safety stock that you need to allow exchanges. If the quantity of a product is equal to or lower than this threshold, it will be displayed as unavailable for exchange. This applies to all products and variants.

- Decide whether you want to manually approve exchange requests (by selecting 'Require Authorization') or automatically approve them (by selecting 'Automatic').

Step 8
Once you have configured all the settings as per your requirements, click on the Save Changes button.

And that's it! You have now enabled the Exchange functionality for your WeSupply account.

B.  What Types of Exchanges are Supported?

 

1. Exchanges for Variants of the Same Product with the Same Price

This is the most straightforward type of exchange. It allows customers to exchange their purchased item for a different variant of the same product, provided the variant has the same price. For instance, if a customer bought a shirt in size M and wants to exchange it for size L, this type of exchange would be applicable, assuming both sizes have the same price.

2. Exchanges for Variants of the Same Product with a Custom Price Range

This type of exchange is similar to the first one but with a twist. It allows customers to exchange their purchased item for a different variant of the same product, even if the variant has a different price. However, the price difference must fall within a custom price range set by the business. This type of exchange is useful when there are significant price differences between product variants.

3. Exchanges for Any Products with a Custom Price Range

This type of exchange offers the most flexibility. It allows customers to exchange their purchased item for any product available in the store, as long as it respects the custom pricing set at the logic level. Once the customer has chosen the exchange products, a new order is created in Shopify/BigCommerce. This order is marked with an Exchange Tag, making it easy for both the customer and the business to track. This process is automated, ensuring a smooth and efficient exchange process. This type of exchange can enhance customer satisfaction as it gives them the freedom to choose a different product if they are not satisfied with their original purchase.

4. Replacements or Warranty

This type of exchange is unique as it can be set up simultaneously with any other type of exchange. It allows customers to request a replacement for their purchased item if it's defective or doesn't meet their expectations. This feature is crucial for businesses as it helps build trust and loyalty among customers. In order to enable Replacements in WeSupply, you can repeat steps 1-5 from the previous section and enable the Allow Replacement or Warranty function. While configuring your Replacement logic, you need to consider the following:

- Set the Replacement Window: The replacement window is the timeframe within which customers can initiate exchanges. You can set this according to your company's policy.

- Decide on Out-of-Stock Items: Next, you need to decide what happens when an item is out of stock. You have two options: 'Do not allow exchanges' or 'Allow exchanges for variants of the same product with the same price.' Choose the option that best suits your business model.

- Decide whether you want to manually approve replacement requests (by selecting 'Require Authorization') or automatically approve them (by selecting 'Automatic').

 

C. How to Process an Exchange?

Step 1

First, you need to log into your WeSupply account.

Step 2

On the dashboard, navigate to the 'Returns' tab. This is where you'll find all the return requests made by your customers.

Step 3

Click on the return request you wish to process. This will open up the details of the return request, including the customer's information, the product they wish to return, and their reason for returning it.

Step 4

If the exchange requires approval, you'll have the option to either authorize or reject it. Make sure to review the details of the return request before making a decision.

Step 5

This step involves verifying if the product received is the exact product that was supposed to be exchanged. You can also select the quality control options you have set up to ensure the product is in good condition.

Step 6

In the 'Awaiting Refund' section, once you've verified that all the details are correct, you can mark the item as exchanged. This effectively closes the return request.

Step 7

An exchange order will be automatically created in Shopify/BigCommerce. This ensures that the customer receives the exchanged product as soon as possible. However, please keep in mind that an exchange order won't be created if the customer is requesting a replacement item.