With the rise of e-commerce, Souq platform, as a highly watched cross-border e-commerce platform, provides sellers with broad development opportunities. In order to help sellers open stores on the Souq platform smoothly, a detailed store opening strategy has been compiled to allow sellers to easily navigate this market.
1. Account opening form.
The first step to open a store on the Souq platform is to choose the account opening form. Among them, invitation email registration is a quick and effective way:
1. Invitation email registration:
After receiving the invitation email, the seller needs to provide some basic information, including a scanned copy of the business license, bank account number, contact email address and mobile phone number.
After the seller account is generated, the system will send an activation link to the seller’s registered email address, and click the link to reset the password.
In the seller interface, you need to set key information such as store name, bank account number and VAT number.
2. Account opening conditions.
Before submitting a registration application, it is important to understand the account opening conditions of the Souq platform:
1. Document requirements: Sellers need to provide a valid business license.
2. Goods requirements: Souq adopts the FBS (Fulfillment by Souq) model, and the first leg of goods must be delivered to the warehouse designated by Souq. After entering the warehouse, the seller’s goods can be sold on the platform.
3. Collection requirements: The account registered by the seller must be bound to the bank account of the company where the business license is located before withdrawals can be made. In addition, the account supports US dollar transactions.
Three, platform characteristics.
Understanding the characteristics of the Souq platform will help sellers better operate and promote their stores:
1. Logistics: Souq mainly adopts FBS and spontaneous distribution models to ensure that the goods are stored in the official warehouse of Souq. After the order is generated, it is sent directly to the buyer by the warehouse, and the delivery time is usually 3 working days. The return processing is also the responsibility of Souq officials.
2. Trademark requirements: If the seller plans to sell domestic or international brand products on the Souq platform, he must first obtain the corresponding trademark use rights and submit it to the Souq platform for review.
Four, platform charging information.
In the process of opening a store, it is crucial to understand the fee structure of the platform:
1. Monthly rent: Souq platform does not charge monthly rent, providing sellers with a more flexible operating environment.
2. Order service fee: AED10 service fee will be charged for each order, and a portion of the service fee will be deducted for orders over 100AED.
3. Commission: The commission of Souq platform varies according to different product categories, ranging from 5% to 20%.
By understanding the store opening strategy, sellers will have more confidence in successfully settling on the Souq platform. In this market full of opportunities, Souq provides sellers with unlimited business opportunities. We hope that sellers can make good use of this opportunity and achieve greater business success through the Souq platform.