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ShipTect - Revolutionizing Package Insurance in E-commerce

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About

ShipTect

ShipTect serves as a game-changer in the realm of package insurance, tailored specifically for your BigCommerce store. This innovative service becomes available to customers during the checkout process, where they have the option to invest a small percentage of their order total to insure their package. This not only offers the customer reassurance that their package will be delivered safely and as expected, and it also increases your store’s revenue by 2-4%.

Industry Type:

eCommerce

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Solution

Pricing Customization

Challenges

Some key challenges that emerged revolved around creating a customizable and dynamic pricing structure, as well as real-time price updates.

  • Customizable Pricing Structure: Creating a dynamic pricing model that allows each store to customize insurance rates according to their unique requirements.
  • Real-time Price Updates: Implementing a system that could adjust insurance prices instantly based on the quantity and nature of physical products in the cart.

 

 

Solution

  • Configurable Rate Settings: To address the challenge of creating a customizable pricing structure for ShipTect, we implemented a tier pricing structure. This innovative solution empowers store owners to set distinct pricing for multiple tiers, accommodating the diverse needs of each store. The configurable rate settings allow for a granular approach to insurance pricing, enabling a personalized experience for both store owners and their customers. Key features of the tier pricing structure include multi-tier configuration, where store owners can add and customize multiple tiers, each with its unique pricing structure, and an intuitive dashboard within the ShipTect app, simplifying the process of adding, modifying, and managing tiered pricing structures. This solution offers enhanced flexibility, allowing store owners to adapt insurance pricing based on their specific business models, and facilitates dynamic adjustments to ensure relevance to changing business requirements.
  • API Integration: To tackle the challenge of real-time price updates, we leveraged the BigCommerce Management API for seamless integration with the ShipTect app. This vital API integration ensures the cart line item “list_price”, reflects the dynamically calculated insurance amount in real-time. Notable aspects of the API integration include real-time communication, where the ShipTect app interacts with the BigCommerce Management API to fetch and update cart information instantly. It also enables dynamic price calculation, adjusting the insurance cost based on what’s in the cart and updating the “list_price” in real time. To ensure a smooth user experience, robust error-handling mechanisms are implemented to address any discrepancies promptly. The benefits of this solution are manifold. It offers a seamless checkout experience by providing customers with accurate and transparent insurance pricing during the process. Additionally, the integration with the BigCommerce Management API ensures precision and reliability in updating cart line item prices, reinforcing the trust and confidence of both the store owners and their customers.

ShipTect

Client Testimonial

(BigCommerce Store Owner)

We installed ShipTect in our storefront a little over 1 month ago and have had a great experience so far. We have an opt-in rate of 82%, which is much higher than we were expecting. ShipTect helped with the setup to charge a flat 3% on all orders, so this has meant a nearly 3% increase in revenue to our orders and a large "pot" to cover customer's lost shipments. It is such an easy way to give our customers peace of mind and it is great to not have to deal with 3rd parties for claims/replacements/etc. I would recommend everyone to run this app.

Results

  • Increased Merchant Satisfaction
    
Store owners reported a high level of satisfaction with the customizable pricing structure, stating it met their diverse needs effectively.
  • Enhanced User Experience:
    Real-time price updates during checkout contributed to a smoother and more transparent customer experience.
  • Adaptability and Scalability:The implemented solution proved adaptable to various store types and scalable to accommodate future growth.

The ShipTect project successfully navigated the challenges of creating a customizable pricing structure and implementing real-time updates. This innovative approach not only met the project goals but also positioned ShipTect as a trailblazer in providing tailored shipping insurance solutions.

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