Once the preparations are complete, we can accept the invitation to join the SIP project. After joining the SIP project, there will be some changes to the original store backend. We need to set these changes.
1. Price adjustment ratio
We can click “Store Management” – “Store Settings” – “Store Introduction” – “Global Sales Information” option to set the price adjustment ratio.
The price adjustment ratio directly determines the seller’s income. After entering the price adjustment ratio, when the product is sold on non-Taiwan, China, the Shopee platform will automatically calculate the settlement unit price corresponding to the product based on the net selling price and price adjustment ratio of the product. The settlement unit price is the unit price of the product when the Shopee platform settles accounts with the seller. After deducting commissions and transaction fees, it is the final amount received by the seller. Settlement unit price (TWD) = (selling price of the product in Taiwan, China – storage price in Taiwan, China) x price adjustment ratio
The amount the seller can receive for each order = settlement unit price x quantity of goods – transaction Service fee – commission
Buyers will pay part of the freight. In order to ensure profits, sellers need to hide the remaining part of the actual freight minus the freight paid by the buyer into the price of the product, which is the “hidden price”. The concept of hidden prices was explained in Chapter 4. For stores that have opened the SIP project, the system will automatically calculate the hidden price based on the product weight and site
For example, the selling price of product A in Taiwan, China is 300TWD, and the hidden price is 25TWD. The price adjustment ratio set by the website is 80%, and the buyer’s settlement unit price after purchasing a product = (300-25) x 80% = 220TWD.
If the seller thinks that the order price of some orders is too low, he can apply to the Shopee platform for offline subsidy price adjustment.
2. Payment method
After the transaction is completed and before payment is made on the Shopee platform, we need to set the payment method separately for each non-Taiwan website in the background of the Taiwan website. The payment method of each site can be the same as that of the Taiwan site, or it can be different. For the steps to bind a bank account, please refer to Section 3.6. Currently, the Vietnam station only supports Payoneei payment collection. The payment method can be set by clicking “Financial Management” – “Bank Account”.
3. Product management
The product inventory quantity set in the Taiwan, China station is the total inventory quantity of the Taiwan, China and non-Taiwan, China stations. The system will allocate inventory to each other site based on the total inventory quantity and the guaranteed inventory quantity of products in Taiwan, China. Sellers can view the total inventory quantity and the inventory quantity in Taiwan, China on the “My Products” page. Sellers can modify the total inventory quantity through the “Specification Sheet” on each product details page, or click “My Products” – “Batch Tools” – “Update Product Attributes” option to download an Excel table to modify the total inventory quantity in batches.
The settlement unit price of the product has been introduced in “Price Adjustment Ratio”. The discount activity of the product itself will affect the settlement unit price of the product, but store coupons will not. In other words, the product selling price is based on the actual selling price in Taiwan, China. If the product is discounted, the product selling price is the discounted price. .
4. Order management: viewing and shipping
The order viewing and shipping of stores that have opened the SIP project are the same as those of ordinary stores. We can click the “My Sales” option to view Orders with different statuses across all sites. For self-delivery, it should be noted that when sending to the warehouse, we need to package the packages from different sites separately and mark them clearly to avoid confusion among warehouse personnel. At present, we cannot directly cancel orders from non-Taiwan stations in the background. If we cannot deliver the goods on time, we need to contact the account manager in time to communicate and handle it.
5. Returns/Refunds
For returns due to reasons caused by the seller, such as product quality problems, product missing, etc., the loss will be borne by the seller; for reasons due to the Shopee platform In case of returns, the seller’s losses will be borne by the Shopee platform.
Acridine Ji. Account View
If we want to know the amount of the income, we can check it on the “My Income” page. If we apply for an offline subsidy price adjustment, the actual amount received may be different from the amount displayed in the Shopee backend. Therefore, at this stage, if we want to check the income status of stores that have opened SIP projects, we can contact the account manager to obtain the payment report and view the details. The amount of income will be based on the payment report provided by the account manager.
How to withdraw from the SIP project
If we want to withdraw from the SIP project after comprehensive consideration, we can ask the account manager for the link to the SIP seller’s withdrawal registration form, fill in the questionnaire, and apply for withdrawal. After receiving the application, the Shopee platform will process it within two weeks. But please note that the store must complete the order before exiting the SIP project.