Store Credit & Gift Certificates
Instead of refunding money, you now have the ability to offer your customers a Store Credit. In fact, you could even turn a refund into a sale. Keep the money in your bank while giving your customers a credit, which very often they will not use, or only use a portion. You could even offer a greater credit amount than the original sale as an incentive.
For example, if someone wanted to return an item that cost $100, instead of refunding, you could offer them $110 credit instead of $100 refund to their credit card. In almost all cases, they will never use the entire amount, or they will need to add money to complete a purchase, because it would be very difficult to make a purchase in your store that adds up to exactly $110.
Many people completely forget that they even have the credit.
In addition, the Promo Manager now offers the ability to create Custom Gift Certificates. With the built-in Gift Certificate system in your Yahoo! Store, you cannot know a gift certificate number prior to it being purchased. This prohibits you from printing physical gift cards that can be mailed to your customers or sold in you B&M store. The Promo Manager allows you to set the codes in advance, so that you can provide them to your print shop for printing physical gift cards, or even providing Gift Certificate codes to Groupon, or any other 3rd party service.
Also, you can edit and delete any Gift Certificate in your store. With the Promo Manager, you are in full control.
Best of all, the Store Credit and Gift Certificate system are included with the Promo Manager at no extra cost! If you are already a Promo Manager customer and would like this to be enabled, please email us at email@example.com, and we will turn it on for you.
All new installations, will come with this system already turned on.
If you are currently using Yahoo!'s gift certificates, we can import the codes and amounts into our system for a seamless transition. Please contact us for details.
In 2014, we will be expanding these services to allow 3rd party order management systems, POS systems, and other sales and ecommerce platforms to communicate with the Promo Manager. This will allow your store credits and gift certificates to be used through multiple channels, while being maintained in one location.
We will also be adding the ability to use the same store credits and gift certificates in multiple stores so that if you own more than one store, they could be used across all your stores. You could even create a partnership with other store owners to accept each other's Gift Certificates.
More to come.... Stay tuned!