Category: How to Ecommerce?

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Online shopping has taken over the retail market by storm. With a massive population of 500 million internet users in 2017, India has one of the fastest growing internet population on a global level. This is the primary reason why we have seen campaigns like India ki dukaan and Paytm karo become a hit.

Today everything is available online. From grocery, apparels, gadgets to home cleaning services our Indian e-commerce fraternity has left no service addressed to. This is the result of steady growth in the Indian e-commerce from 2014. Currently, the market size is $53 billion which is expected to cross over $100 billion by the year 2020 and $200 billion by 2026.

Watch Online retail sales in India seen growing to $32.7 billion in 2018

In this blog, let’s look at Factors That Have Contributed to Growth in E-commerce

Internet localisation: E-commerce sites allow you to search for your product in Hindi, Tamil and various other languages. Now you need not wonder what do you need to type while searching a mop or a camisole. Google spokesperson confirmed that after the localisation of the internet, web content search in Hindi grew at a rate of 155%in 2014 and Hindi content searched through smartphones grew up to 300% in the same year. Looking at the growth in the mobile subscriber base from people comfortable in languages other than English, online platforms held personalisation as the key to success and launched platforms in local languages or enabled local language searches.

The Growth of Mobile E-commerce: The number of mobile internet users in the country was 173 million in December 2014 and has grown twofold since then. Smartphone adoption due to easy accessibility and availability of the internet has contributed to extensive growth. This is something that the e-commerce retailers have been banking on. There are mobile-specific marketing campaigns created to entice these users to attract, close, delight and convert.

Watch Indian e-commerce sales to reach $55 billion by 2018

Digital India: Government of India’s Digital India initiative has been a significant factor in triggering internet penetration across the country, which has triggered a host of services being digitally delivered. The invariable result of this trigger in internet penetration has shifted the consumer to online shopping and online payments.

Payment Options: Digital wallets like Paytm and UPI have increased the payment options. Earlier, e-commerce players recorded immense growth because of the success of the Cash on Delivery (COD) model, which was a massive hit in India, due in no small amount of cash usage. Demonetization drive has prompted the Indian population to opt for electronic payments. EMI is another factor that fueled the sales of those products that consumers could not afford at one go.

Employed Population in India: About 60-65% of the Indian population is under 35 years of age and out this the employed, educated and the tech-savvy are driving e-commerce growth through their purchasing power.

Attractive deals and marketing campaign: E-commerce retailers have launched engaging marketing campaigns on Radio and TV as well. They are wooing consumers with attractive deals, discounts and challenging to say no’ offers.

Shop Conveniently: Technology has enabled us to sit on the couch and order food, groceries, books, gadgets, clothes, and much more. The convenience of shopping on the go or use voice to search the product you need has triggered the and contributed to the growth of e-commerce.

Logistics: Courier and packaging companies are assisting the e-commerce boom. From attractive packaging to use of eco-friendly, reusable products to support the plastic ban along with on-time delivery there is everything that the logistics and courier partners are doing to help the e-commerce industry.

Fierce Competition: Apart from the boom in mobile and internet usage, Flipkart, Amazon and Paytm Mall have been competing for neck-to-neck to claim the cream of the Indian market. All three companies are making significant investments, which include improved logistics and payment, as well as attractive offers, which has triggered their growth in the market.

References:

http://www.successmonks.com/what-is-e-commerce-business/
https://www.livemint.com/Industry/EBKt9C9WrVmOMogOzFoEMK/Indias-ecommerce-market-to-grow-fourfold-to-150-billion-b.html
https://www.ibef.org/industry/ecommerce.aspx
https://www.business-standard.com/article/companies/indian-e-commerce-industry-is-expected-to-cross-100-billion-mark-by-2020-118051801480_1.html
https://www.emarketer.com/content/india-s-ecommerce-market-continues-to-surge

The Logistics Sector in India is worth 160 billion USD as of today and is expected to grow to 215 billion USD within the next two years. Integrating the use of IT and innovations to reduce costs and improve quality management has contributed to this. The ecommerce boom in India has played a major role in this as well and will continue providing impetus to the growth of the Logistics Sector.

This throws light on the making the right choice for a logistics service provider for your business. Many factors may come to your mind – reliability, cost, efficiency, adequate use of technology, etc. India’s logistics service providers were ranked 32 worldwide in terms of competence and quality. This indicates that there is a lot of potential, not just for this sector, but for the inter-depending industries as well. Here are some popular logistics companies to choose from:

  1. FedEx – Providing premium services with competitive pricing, FedEx can be counted as an established and reliable service partner. However, it does not have a broad network in India and only delivers to major cities.
  2. DTDC – This is a Swadeshi, cheap, reliable and convenient choice with a very broad coverage across India. However, it may not have a very good connectivity abroad.
  3. DHL – DHL is one of the most innovative logistics partner worldwide, providing reliable, efficient and quality services. However, being a German company, DHL may not be the best choice for businesses looking for a partner with a vast network in India.
  4. Blue Dart – This is one of the most ethical and innovative Indian logistics companies, providing quality services across a broad network in India. The demerit, however, is that it is a premium brand with premium prices.
  5. First Flight – With partners like Sony, Samsung and Myntra, First Flight has built a good reputation over the years. However, they are still growing slowly compared to the other players in the ecommerce segment.
  6. Create your own logistics division – The advantages of insourcing are more than just reliability and cost. Imagine a warehouse, with employees being trained about the process of handling inventory and packaging products, with the choicest of lean practices. Your customer being handed a beautiful box with your company’s design and logo. The customer getting a feel of the exact packaging that you saw the product being wrapped in, and then opening the box to be surprised with the quality of the products and how they were neatly placed, just the way they looked in the warehouse. However, this may require additional capital and will take a lot of time and effort to establish.

Several businesses choose to partner with at least 5-6 logistics service providers, as each provider has its own speciality and demerits. For example, Logistics A may be very efficient but may not deliver to certain pincodes. And if Logistics B does deliver to the all pincodes efficiently, they may not have the expected quality management. Hence, by having 5-6 logistics partners, businesses have the flexibility of picking different partners as per their changing needs.

Some businesses wish to emulate the choices of big ecommerce players. For example, Amazon has a broad logistics portfolio with its own as well as a diverse range of outsourced logistics providers, which ultimately helps it to establish the goal of reaching out to customers all the way from Leh to Lakshadweep. However, the bigger picture is which provider/s can fit in with the requirements of your business and ultimately contribute to the satisfaction of your customers.

BIBLIOGRAPHY:

  1. https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/indias-logistics-sector-to-reach-usd-215-bn-by-2020-survey/articleshow/62693817.cms
  2. https://www.statista.com/statistics/912521/india-logistics-performance-index-rank-based-on-logistics-competence-and-quality/
  3. https://yourstory.com/2018/02/amazon-akhil-saxena-logistics/
  4. http://fedex.com
  5. http://www.dhl.com/en.html
  6. https://bluedart.com/
  7. https://www.firstflight.net/

Ecommerce retail sales in India amounted to 16 billion USD in 2016 and increased to 20 billion USD in 2017. With a massive population of 1.3 billion, of which nearly 332 million are active internet users, India has a huge potential market for all kinds of ecommerce businesses.

With user-friendly, customizable and efficient interfaces, ecommerce building platforms have radically transformed the process of building websites. However, the process of getting to know and then choosing the right ecommerce platform for your business can be overwhelming…

Here’s a list of some of the most useful ecommerce platforms available in India:

  1. Shopify – By providing separate plans for small businesses and bigger, established businesses, this Canadian company caters to the specific needs of a business. Over 6 lakh businesses worldwide use Shopify for ecommerce sales. Shopify offers paid packages that come with a 14-day free trial in order to allow you to explore the requirements of your business. The Wall Street Journal, USA Today, The New York Times and Mashable are some of the companies that have used Shopify to develop their websites.
  2. Magento – Designed for all kinds of businesses – B2B, B2C and hybrid, Magento is a flexible ecommerce website generator. It allows businesses to sell via several mediums including email, mobile, in-store, shipping and so on. Magento has features that allow you to manage orders efficiently, track inventory and save time amongst several other benefits. It also provides businesses with multiple channels to sell their products like Facebook, eBay, Amazon, etc and manage everything using one single platform.
  3. BigCommerce – With testimonies from big companies like Toyota, Kodak, etc., BigCommerce offers a variety of specific services like “Sell on Amazon”, “Sell on Facebook”, “Ecommerce Hosting”, “Ecommerce Design”, and so on. These specialized services cater to the specific needs of your business, allowing you to pay only for what your business really needs
  4. Wix – This platform allows individuals, groups and businesses to build free websites. For a nominal cost, one can get their own domain, more storage space and remove ads. Wix also generates personalized SEO plans for businesses, aiding them to rank higher in Google searches. Wix also provides many suggestions to increase site traffic and hence boost sales.
  5. Weebly – Weebly boasts of allowing you to manage your ecommerce website or online store using any device – your smartphone, tablet, notebook/laptop or desktop. It also allows you to link your website/store with 200 apps and websites that optimize processes such as appointments, bookings, shipping, accounting, etc for your business, improving the experience for your customers.

These online websites allow your business to build an online store or professional website in a very short time. They help in streamlining many processes for your business in a way such that building and managing ecommerce websites/stores feels like a cakewalk in comparison to the high ROI that is generated as a result. Understanding the specific dynamics of your business is a prerequisite before choosing a suitable ecommerce platform, so that you can utilise the platform to its maximum potential and incrementally boost brand awareness and sales.

BIBLIOGRAPHY:

  1. https://nextwhatbusiness.com/ecommerce-platforms-india/
  2. https://www.top10ecommercesitebuilders.com/?utm_source=google&kw=ecommerce%20platform&c=236999895532&t=search&p=&m=p&adpos=1t3&dev=c&devmod=&mobval=0&network=g&campaignid=98626143&adgroupid=7582368423&targetid=kwd-289528871&interest=&physical=9061628&feedid=&a=505&ts=int&gclid=EAIaIQobChMIqJjN_pa93gIVDKqWCh1yYAILEAAYAyAAEgJgNvD_BwE
  3. http://shopify.com/
  4. https://magento.com/
  5. https://www.bigcommerce.com/
  6. https://www.wix.com/
  7. https://www.weebly.com/hk
  8. https://www.statista.com/statistics/289770/india-retail-e-commerce-sales/
  9. https://www.statista.com/statistics/255146/number-of-internet-users-in-india/
  10. https://unsplash.com/ – (pictures)

The number of ecommerce buyers worldwide  has increased by 340 million from 2014 to 2017. In the light of this growth spurt, businesses need to consider options to build an online presence.Here are some of the most popular options to explore:

Ecommerce Website Builder – Shopify, Wix and BigCommerce are a few amongst the several available options to build an ecommerce business or expand into the online channel. Shopify and BigCommerce are for bigger businesses and require a web developer to produce, manage and run the website. This is because bigger businesses need to maintain the look-and-feel of the business even on their online store which requires professional developers who have previous experience with coding. However, using Wix and other similar builders, small businesses can create a website easily for free without hiring any tech personnel. Such websites have a great user-interface that does not require any coding skill.

Facebook – Several businesses enter the online channel by selling goods via social media platforms. Facebook allows businesses to sell products via their own online store at a small cost. This store is already built and ready for businesses to simply add their products and payment options. For businesses that already have a Facebook page, this is a great way to market products to a wide audience of followers that have been built over time. However, social media platforms can limit the creativity of the website, which may not help provide a good shopping experience for customers. Also, if there are some specific features (like certain payment options) that a business requires, they may not be available on Facebook and other social media platforms.

WordPress – WordPress can be used by businesses to develop a highly customized website. WordPress has many features that can help businesses identify consumer trends and effectively boost sales. It also allows businesses to use various ecommerce plugins that allow them to accept orders and payments, apply shipping charges, offer coupons, process payments and so on. However, it is very difficult to set up at first. It requires a considerable amount of time and skill to begin selling products. There are many things that need to be learnt, including building a custom domain and setting up one’s own hosting. Therefore, businesses need to hire trained personnel for this channel.

Outsourcing – Businesses also have the option of outsourcing the task of expanding into ecommerce from a professional web-development company. This is usually done in order to build a very professional-looking, customized website that can be maintained easily. Outsourcing can be more costly than the options listed above, but it has several benefits. This option is ideal for companies that wish to significantly boost their sales and build a large pool of online customers. This is because outsourcing results in the best quality websites that suit the exact requirement of the business.

There are several digital channels that allow online shoppers to pick their products and services, the most popular ones being internet sites, smartphone applications and social media. Each of these channels have their own perks and pitfalls, but they all provide businesses with a medium to communicate with a world that hasn’t experienced the beauty of their innovative products and services.

Sources:

  1. https://www.business.com/articles/5-options-for-setting-up-an-online-store/
  2. https://fitsmallbusiness.com/sell-on-wordpress-website/
  3. https://www.statista.com/statistics/251666/number-of-digital-buyers-worldwide/

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