The Sacred Land Is Going Bankrupt, I Invented a Mobile Phone!

Chapter 203

Chapter 203: Insurance and Lottery! Preparing for a Breakthrough!

One million a month? Over a hundred million a year!

Calculating this figure made Ye Chen gasp.

He realized that his income from spirit stones would only increase over time.

At this rate, in a century or two, would he empty out the entire cultivation world?

However, after thinking about it, Ye Chen concluded that this was unlikely.

The cultivation world was vast, with five major continents alone.

He was merely earning more high-grade spirit stones, not enough to drain the entire cultivation world’s resources.

Currently, a single breakthrough required millions of high-grade spirit stones, and the cost would only multiply in the future.

Given the system’s nature, achieving immortality might consume tens of billions of spirit stones.

A sudden reduction of so many spirit stones in the cultivation world would likely increase their value significantly.

However, it was impossible for him alone to make spirit stones as rare as luxury items, unless he became an immortal and remained in this world.

So, there was no need to worry too much for now.

“Very good!” Ye Chen was pleased with Immortal Net Taobao’s revenue and turned to the Foreign Affairs Elder. “Have you encountered any issues with Immortal Net Taobao since its launch?”

The Foreign Affairs Elder thought for a moment and replied, “Overall feedback has been very positive. The only major complaint is about returns. Customers already pay for shipping. If they’re dissatisfied with a product and want to return it, they have to pay for the return shipping, which many cultivators find unacceptable.”

Ye Chen nodded.

This was indeed a significant issue with online shopping.

Unlike in-person shopping, where customers can see the product directly, online shopping relied on photos, which might not convey the product accurately.

The fear of disliking the product and having to pay for the return could make many cultivators hesitate to place an order.

If not addressed, this could negatively impact Immortal Net Taobao’s business.

However, there was a solution.

After discussing free shipping with Lin Ke’er, the Lin family would likely adopt it.

Once their sales increased, other online store owners would follow suit and start offering free shipping as well.

Since Immortal Net Taobao only took a ten percent commission, most merchants’ profits were higher than traditional shops, making it feasible to cover shipping costs.

So, free shipping would likely become the norm, as it had in the previous world’s online shopping.

Ye Chen just needed to address the return shipping cost issue.

After thinking for a while, Ye Chen smiled, “Let’s introduce return shipping insurance!”

“Return shipping insurance?” The elders looked puzzled.

Ye Chen explained, “Return shipping insurance is a type of insurance service. When customers place an order, they can pay a tenth of the shipping fee to purchase return shipping insurance. This insurance covers the cost of returning the product if they’re dissatisfied, so the return shipping is free.”

The elders were even more confused.

Wouldn’t this be a welfare service?

Charging only a tenth of the shipping fee for return shipping insurance meant the company couldn’t even cover its costs.

The Foreign Affairs Elder pondered, “Saint Master, are you suggesting subsidizing return shipping costs to alleviate customer concerns? Given Immortal Net Taobao’s high revenue, allocating some funds to cover return shipping could indeed boost sales.”

The other elders nodded in agreement.

Ye Chen smiled, “Return shipping insurance can indeed reduce customer hesitation and increase orders. But, return shipping insurance can also be profitable.”

The elders were baffled.

Profitable? How?

Seeing their curiosity, Ye Chen smiled, “First, do you think all online shoppers will return their purchases?”

The elders shook their heads.

The Foreign Affairs Elder spoke up, “The return rate for Immortal Net Express is one in a thousand.”

Upon hearing this, the Foreign Affairs Elder’s eyes lit up, “So, not everyone will return their purchases. If the return rate is one in a thousand, we only need to handle one return for every thousand return shipping insurances sold. The cost of ten return shipping insurances covers one return shipping fee. The remaining nine hundred ninety are pure profit! Is that correct, Saint Master?”

Ye Chen nodded, then shook his head, “The profit logic of return shipping insurance is as you said. However, the profit margin won’t be that high since not everyone will buy return shipping insurance. But if ten people buy it and only one returns an item, we don’t lose money. If one in twenty returns, we profit from ten insurances. If one in thirty returns, we profit from twenty, and so on.”

Immortal Net Taobao’s one in a thousand return rate was much lower than the six percent rate on Earth.

This was due to strict penalties for counterfeit goods and false advertising, and no image enhancement techniques.

Shoppers on Immortal Net Taobao saw the most accurate pictures and descriptions of products.

The return rate was naturally lower.

Therefore, return shipping insurance is a surefire profitable business — it’s just a matter of how much profit.

The elders were astonished by the end.

Could it really be this profitable?

It seemed like money was being made effortlessly, as if by magic.

Not only did it generate income, but it also eased consumer hesitation, leading to smoother transactions and higher profits for Immortal Net Taobao.

Additionally, since Immortal Net Express was their own service, they only had to cover labor and transmission costs, making the venture even more profitable.

Our Saint Master casually thought of return shipping insurance, which brought numerous benefits.

It was incredible.

The elders looked at their Saint Master as if he were a deity, amazed by his endless stream of innovative ideas that continually brought them new shocks.

Seeing their expressions, Ye Chen smiled.

The idea of return shipping insurance also gave Ye Chen other inspirations.

He could delve into internet insurance in the future, a highly profitable business.

Insurance companies always made a profit.

Of course, he wouldn’t sell accident insurance in the chaotic cultivation world, as that would truly be a welfare program.

Apart from insurance, lotteries could be extremely profitable.

With a bit of conscience, he could keep half of the cultivators’ lottery money.

If he was more unscrupulous and manipulated the outcomes, all the prize pool money would be his.

Occasionally posting fake success stories on Immortal Net Weibo, such as a rogue cultivator winning the jackpot and earning ten thousand high-grade spirit stones overnight, could entice countless cultivators to buy tickets.

However, Ye Chen found such deceitful practices too unethical and beneath him.

Nonetheless, insurance and lotteries were inherently profitable ventures worth considering for future development, especially once online payment systems were established.

After discussing business, Ye Chen announced the meeting’s end.

He planned to implement the return shipping insurance within the next few days.

Once the spirit stones were gathered, he would focus on his next perfect breakthrough.

Ye Chen was eager to break through to the mid-stage of the Deity Transformation Realm, curious about the new phenomena that might arise in his sea of consciousness and which of the Nine Secrets he might gain next.

The Secret of the Person Character could heal any injury, bringing people back from the brink of death.

The Secret of the Strength Character could potentially unleash tenfold combat power, an incredibly fearsome ability.

With it, his combat prowess could reach unimaginable heights, possibly allowing him to shatter a Great Advanvement cultivator’s divine form with a single punch.

Ye Chen left in high spirits, while the elders remained, gathering in small groups to discuss the fascinating concept of return shipping insurance.

The idea was revolutionary and had left a significant impact on them.

—

At the Lin family, the patriarch and elders were smiling.

Thanks to Lin Ke’er, their advertisement was scheduled for the following Monday, a promising development.

However, they hesitated about offering free shipping, fearing it would reduce their profits.

They were skeptical that waiving shipping fees could attract many customers.

After much deliberation, the patriarch decided, “Since the Heavenly Origin Saint Master suggested it, let’s give it a try. After all, the profit margins on the pills sold online are higher than before. Covering shipping costs is still profitable. But we won’t offer free shipping indiscriminately. For nearby cities like Great Seal City, customers must buy at least two pills for free shipping. The farther the distance, the more they must purchase. Buyers from Xuejing City and Huoyan City must order at least twenty pills for free shipping. Shipping is too expensive otherwise, and we’d incur losses if we offered free shipping for a single pill.”

The patriarch’s thorough plan received unanimous approval from the Lin family elders.

They quickly adjusted the online store settings and added “Free Shipping” to the product names.

However, the high-ranking members didn’t expect much from this change, focusing instead on the upcoming advertisement.

The next day, when the patriarch habitually checked the online store’s orders from the previous day, his eyes widened in astonishment…