How to Incentivise Sellers to take their earnings in Store Credit instead of cash

Introduction
When sellers cash out their earnings, they take money out of your ecosystem. But what if you could encourage them to reinvest their earnings back into your platform? Offering store credit as an alternative to cash payouts can drive retention, increase sales, and build stronger relationships with your sellers. Here’s how to make store credit the more appealing option.

1. Offer a Store Credit Bonus
One of the most effective ways to encourage sellers to take store credit is by offering a bonus. For example, if a seller chooses store credit instead of cash, they receive an extra 20% added to their balance. This means if a seller sells a dress for 300 SEK and normally receives 50% (150 SEK), they would instead receive 60% (180 SEK) in store credit. This incentive makes the store credit option significantly more attractive.

2. Ensure Accurate Reporting by Adjusting Commission
To maintain correct financial reporting and ensure sellers receive the right amount in store credit, follow this structured process:

How to Apply Store Credit Instead of Cash

1. Navigate to Product View: Go to Products > All Products.

2. Filter Sold Items: Filter by status "Sold - Seller to Be Paid" and select the seller you wish to incentivize.
   
   

3. Identify the Product: Locate the product related to the payout.

4. Adjust Commission: Change the merchant commission to the new (for example from 50% to 40% (0.4))
   
   

5. Verify New Earnings: Note the seller’s new earning amount

6. Proceed with Store Credit Addition:

   • Go to the "Customers" tab.

   • Find the seller and click "Add Credit."

   • Add store credit and include a note such as "Seller payout."

7. Finalize the Process: Return to the product and update its status to "Sold Seller Paid."