- E-Commerce

Dropship Resources, 25 Ecommerce Terms All Resellers Should Know

Why is it so Important to be a Knowledgable Reseller? **

More than anything else, a reseller needs to remain knowledgeable about the industry he/she is working in. The reason for this is that the more knowledgeable the reseller possesses, the more organized, adaptable, flexible, and successful the reseller will be. And, of course, this will boost the success potential of the business enormously.

** The 25 Most Important Ecommerce Terms **

Product Feed: A file maintaining all the requisite information about a product list associated with an ecommerce site.

Such feeds provide product information to search engines which aid in reseller inexpensively finding customers.

Data Feed: This is a process in which user can receive updated from a data source.

For resellers, the ability to stay in the loop with their affiliate service and to keep their customers informed becomes possible.

XML: XML stands for Extensible Markup Language and it is means of encoding documents electronically.

Resellers will employ it to exchange data over the internet in a safe and secure manner.

RMA: RMA stands for Return Material Authorization which is the process of returning goods or services for replacement or repair.

Resellers need a RMA system in place so they are not forced to accept losses on defective products.

Import Duties: These are taxes the recipient of a package from a foreign company will need to pay on the receipt of certain items.

Dropshippers need to know how much customers will pay on import duties so they can adjust their pricing and shipping accordingly.

This can help the company still remains cost effective for customers.

VAT: VAT stands for Value Added Tax and it is a fee charged on all levels of consumption and sale. Mostly used in Europe, a VAT tax can add upwards of 20% to the cost of an order.

Billing Address: This is the address associated with the credit card used in the purchase.

Proving a billing address to the reseller allows the reseller to charge the credit card. It also aids in preventing the use of stolen credit card.

Shipping Address: This is the specific address the customer would like the order shipped to. It may or may not be the same address as the billing address.

Ecommerce Portal: This is an online hub where sellers, suppliers, and consumers can interact.

For the reseller, such a portal can greatly expand social media marketing potential.

Merchant: A merchant is someone that sells a product directly to a customer.

Merchants should not be confused with suppliers which are, in essence, wholesalers that provide products for merchants or retailers to sell.

CMS: A Content Management System allows for the proper maintenance and management of workflow.

Dropshippers will find it enormously helpful to maintain organization.