Is layaway payments method valuable for online Business Stores?

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Magento Layaway payment extension is a way to purchase an item without paying the entire cost immediately. Magento Partial payment is the mutual understanding between a customer and store owner. It is a mode of payment in which buyer pays payment to store owner in the form of installment. Business store owners will have to be at the top of forecasting in managing inventory to make layaway payments method profitable. For a Magento partial payment module to work, the products must be on hand. Admin has the facility to update installment by using a simple payment method. Layaway payments module regains concentration of retailers at the beginning of new century.

 In Customers Point of View.

Layaway partial Payments plug-in make it possible for customers to pay for the products and services they want. This FME Extension make purchases easier to afford and in budget line for the consumers. It is important for customer to maintain track of their payment history, and to know how much they have to made payments. Payment plans do not charge interest over outstanding balance like credit cards from customers. When a consumer chooses Partial payment plug-in at time of purchase, they set their payment schedule by using layaway payment Calculator.

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Store Owners Point of View

FMEs Magento payment Extension gives Store Owners the facility to secure sales even when a consumer has limited credit or cash available at the time of shopping. Orders are easily tracked and predictable giving store owners a true online pre-order system that allows them to manage inventory easier unlike other payment alternatives. Store owners have the facility to configure the extension to restrict or allow customer to pay installments for exact order statuses.Admin can supervise the layaway payment order with a separate panel provided for this. Admin has the facility to update installment by using a simple payment method.

CONCLUSION

It is concluded after analyzing layaway payments benefits in both customer and store owner point of view that this Magento extension constructs a dynamic influence on the sales .Magento layaway payment module is beneficial for both customers and stores owners. This payment method grapes more customers. Layaway process assists store owners by providing them best practice policies to enhance their sales. Layaway partial payment module provides store owners with a profitable alternative payment option that allows them to increase their market reach.

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Some Useful Features Of Online Booking System:

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Few years back there was time when reservations of flight and hotel room booking was not an easy task for a client because whole procedure was manually handled by managing authority. Later on with the advancement of technology, all kind of reservations could be made through several Ecommerce frameworks like Magento, PrestaShop etc. If internet connection is available to him along with sufficient amount in bankcard then user can easily confirm booking in few minutes.
The commerce hosted by Magento not only enables a client to shop online but also allows him to make reservations by using FMEs Magento modules. The plugin support is capable to provide hassle free reservation mechanism to a consumer that saves his time as well as money with a single click. The online system can be deployed for all kind of bookable commodities and services such as event reservation, doctor’s appointment, hotel booking, ticket reservation etc.
Useful Features Magento Reservation Extension:
Preservation Of Time & Costs:
Online booking system can automatically check availability of booking on intended time and it can provide instant reservation upon availability of empty slot. Such way can prevents wastage of time and resources consumed during waiting for follow-up of emails and travelling for sake of bookings. Thus, mechanism reduces the errors and delays caused by manual involvement, which is the main cause for the preservation of time and cost.
Easy Deployment Of Changes:
It is mentioned above the booking system has no manual involvement, so all the changes and updates on the web store does not require technical expertise of administrator. The self-managing capability of system provides the automatic error free management for a non-technical person.
Elimination Of Moderation:
Magento reservation system does not require payment of commission in order to confirm booking because it does not involve mediation of third person. The reason behind not involvement of moderator is that checking and booking of reservation entirely takes place between service availing person and provider. In this way, a consumer can save his expenses by not paying to any coordinating authority or person.
Better Stability & Performance:
The reservation methodology is stable enough to handle queries from multiple clients; it can perform well during the peak periods of service utilization. The system can provide swift booking service for any kind of traffic loads.
Makes Lead Against Other Contenders:
By the advancement of technology, Ecommerce platforms other than Magento are also offering electronic reservation system for online stores but Magento commerce can make the experience different from other platform by providing community based solutions. Thus, it is the basic reason behind the success of Magento hosting website.

How Important to Know Consumer’s Search Behavior for Webstore Owners.

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It has become a trend now most of buyers search their needs online. They may want particular items, compare a product or compare prices for similar choices. Taking these previous points in mind e-merchants want better site design or product promotion decisions.
It is difficult to categorize the online consumers search behavior. There are many researchers that have tried to identify it, but they have gathered the data. By using that data e-merchants may be able to make good decisions. Here are the few important consumers search behaviors related to e-merchants. By following these consumers search behavior e-merchants can understand the basics of consumer behavior.
Locate – Searching on The web:
The most common form of consumer search is locating search behavior for finding a known product. For example a customer wants to buy shoes. May be he does not know the details of shoes, but he knows that the common products exist on site and he also knows the size that he wants. The search task in this case will most likely include precise queries conducted on search engines or on a webstore owner’s own site search.

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Confirm:
Sometimes the customers want to verify that a specific product or item meets there specification or not. In this case buyers may be familiar with subject of search but want to know and understand properly about that item. The most important thing is that, verifying shoppers always search for important specifications that must be in your product’s description. The e-merchants who place the most commonly verified specifications in headlines or top of the page, they help the customers to perform better for these types of searches.

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There is the solution of these above search problems for those e-merchants who are using Magento based online stores. The Quick View Magento Extension enables customers to quickly view product information. The visitors can view product information in a lightbox instead of jumping to product page. This Product Ajax View Module generates popup window, the buyers can navigate to next and previous products with the help of next and previous buttons.
Monitor:
The every product that is offered online is not spontaneous. In fact, most of buyers especially a buyer making a relatively expensive purchase will visit more than one site before making a buying decision. Buyers also checks prices for major purchase. This kind of consumer behavior is referred to as monitoring. The aim of this behavior is to stay aware of products developments.
Explore:
There are buyers who are exploring for new products, new categories etc. According to Russell-Rose and Marki (Researchers of London), “the site should help the explorer wonder, and provide markers showing where the shopper has been so that he is not backtracking or getting board”.

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Are Layaway Payments Advantageous For Magento Users?

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Layaway is the mutual understanding between a client as well as seller. It is a way of payment in which purchaser pays payment to merchant in the form of installment, and purchased commodity is not handed over to customer until he pays all the installments. The time duration of payment is adjustable by buyer in which he has to complete all the installments. If purchaser remains unable to complete the installments then after the deduction of few charges his deposited amount is returned to him along with this the purchased product remains in the acquisition of owner.

Layaway payment plans were in fact launched during the twentieth century, when great depression shattered the economies of the world, it was due to the reason that sellers were selling commodities to those purchasers, which were deficient in purchasing power. From that era such concept was launched, if consumer is unable to buy a commodity then retailer can let consumer have that product after some amount of down payment with assurance of paying rest of the payments. In addition, a purchaser can acquire the item after completing the timely fashioned payments.

After the success of credit card shopping, majority of the retailers suspended layaway payment plans because they can have great deal of profit margins through store branded credit cards. Layaway payments regained attention of retailers at the beginning of new century, when buyers were once again reluctant about purchasing a commodity because they perceive that it can bring more customers back to them. With the inception of online commerce, some owners also offered Magento layaway payment plans.

Layaway shopping is beneficial for both consumer as well as seller, because Ecommerce hosted by Magento framework is flexible enough to handle layaway shopping through professional Magento extensions. Like everything, a Magento partial payments plan also has both positive and negative aspects, so here we are bulleting some positive attributes:

Positive Attributes Of Layaway Payments:

  • A layaway plan does not undergo interest over outstanding balance like credit cards.
  • Credit worthiness is not the requirement to avail the recurring payment program on Magento store.
  • There is no chance of facing out of stock problem of commodity after getting financial capability.
  • Debt is not incremented on the credit card, as it does not involve daily charges.
  • A layaway plan can also serve as conventional payment plan.

Negative Attributes Of Layaway Payments:

  • The partial payments program is not offered on all the items available on the shop i.e. foodstuff, computers etc.
  • Some retailers also charge additional amount apart from down payment, if these charges are not paid then it may suffer the pattern of installments.
  • A Magento recurring payments also involves replenishing charges in case alteration of commodity.
  • The payment program is likely to be aborted, in case of bankruptcy of both seller & retailer.

Importance of E-commerce Registration Page

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In modern era of today E-commerce is developing rapidly. There are plenty of advantages of it and it is very much easy to use business.  If you want to launch an online web-store, than you will have to decide that which features you need. For instance you will choose reliable e-commerce platform and reliable e-commerce solutions. Here we will discuss about “Registration Page” which is one of the most important feature of e-commerce.

The Purpose of e-commerce website is to provide a place where users can buy your products. Registration and Login is place where buyer can access the page anytime from anywhere for purchasing your product. Magento is one of excellent e-commerce platform which provides unlimited fields on customer’s registration and account pages, it support lots of Professional Magento Extensions. By using these extensions you can boost up your sales.

You should provide latest fields to registration and account page, for collecting different types of data from your customers. You can gain better user experiences from this activity. If your business is currently on Magento platform, than Magento Customer Registration Fields Extension allows you to add lots of fields. You can add collect user survey data, file, image, text field, yes/no, radio and check box etc.

The key benefits of Registration page.

  • Registration page saves time to both the seller and buyer. Seller can save the time of opening, entering, and sorting out illegible or inaccurate forms. Buyer can sign up from everywhere without having to print, manually fill out and send paper forms.
  • It provides secure way of payment buyer can simply enter their credit card details online to complete their transaction instead of writing cheque or counting cash.
  • You can collect your customer’s interest and measure their experience on your registration page.
  • Registration page provides faster check-out thanks to pre-populated billing information. It provides the ability to check order status and provides track deliveries.
  • It provides joining facility of joining community to leave reviews and options.

Whatever option for registration e-merchant adopts it is important it is important that customers know the benefits of registration clearly.

Trouble-Free Payment Methods

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E-commerce Merchants are always in search of Alternative Payment Methods (APMs) for serving their customers. There are most popular alternative payments methods like Bill Me Later, PayPal and Google checkout. As everything has something good and bad same like that these APMs also have pros and cons of their own. Today we will discuss about the different Alternative Payments Methods.

There are most Alternative Payments Methods that cover claims, they are very careful to increase these assertions with some hard facts based on actual vendor experiences. For these payments methods case study is very popular marketing tool, because if your company’s business model are similar to any case study then you can test the particular APM. There are many Professional Magento Extensions which have this partial payments functionality.

Types of Alternative Payment Methods

On Credit: APM provides platform for complete sales transactions by offering credit terms to the purchaser. They run totally outside the domain of credit card networks. Under this model they (APM) provide credit and later invoices to consumer for any purchase. One of the most important examples of this kind of payment is Layaway Payments method. This recurring payment method provides web-store owners the facility of providing online payments in installments to their customers. By using this Magento Partial Payments  webstore vendors can setup different payment options for their customers, they can charge layaway service fee, describe number of installments, max time duration etc. customers can track their installments from their account and can also pay the installment amount from their account.

Value Added Propriety Gateways: Value added a proprietary gateway is a platform that acts as intermediaries among the consumer and merchants, who uses standard credit card and Automated Clearing Home (ACH) networks. In this method payments for sales are taken by the Alternative Payments Methods directly from buyer’s credit card. For using it buyer creates an account on APM’s website, when buyer purchase anything the amount is deducted from his checking or credit card account by APM. In case of PayPal deductions are made from checking accounts, while Google checkout charges the buyers credit card.

At the end both the Alternative Payments Method has their primary benefits for their users. For instance PayPal is enjoying the huge market share of more than 150 million users.

How Can You Sale Your Complex Products with Additional Information?

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In E-commerce there are lots of products which are complex to sale, for this purpose you try special methods of increasing your sales. For instance you try to add instructions, compliance certificates, etc with products for the purpose of increasing value of your products. You try to provide as much as possible facilities to your customers. Visitors always focus on useful information if they find it on your site it takes one more step near to make them your customers.

Today our topic of discussion is how you can make your site more effective and how can you increase your complex sales by adding additional information with your product. For Instant FME provides Magento Product Attachments Extension which allows you to upload your PDF, word, Excel etc files with your products and CMS. This Magento extension enables you to have multiple files of multiple types with each product/CMS. It also provides the facility of download counter option and customer segmentation option. You can also allow your customers for download with/without login.

Key Features of Product Attachment Extension

  • It shows icon against each file type, according to file type each file will have a separate Icon like PDF, Excel etc.
  • You can track the number of downloads which shows your performance
  • You can allow or disallow the access to specific files for non-registered visitors.
  • You will be able to grant access to files for specified customer group.
  • Video can be uploaded with products.
  • It provides separate landing page for all the uploaded files.
  • It provides custom file description which allows you to add description of product so that customer can recognize that what they will get after download.

By taking the benefits of above features you can enhance your sales by providing additional information to your customers. If you are using Magento platform there are hundreds of tools (products and themes) are available on FMEExtensions site. By using these FMEs Magento extensions you can achieve your goal of increasing your sales.

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