Reach Out to the Global Audience Through Your Online E-commerce Business in India
Did you know the e-commerce market in India is snowballing? If you don’t, here’s a fact: an economic survey of 2017-2018 states that India’s e-commerce market was estimated at $33 billion. Another point that should get you going is that Indians now have better accessibility to the Internet be it via computers or mobile smartphones. With India’s huge population and the Government easing startup of a business, it is almost vital to be part of the e-commerce market in India. Here is a general guide to set up an online e-commerce business in India.
E-commerce, a Necessity
When e-commerce was in its infancy, it was an option. People who dared to venture onto the online world, not knowing there will be any success, were in the dark. But as times passed, more people are jumping onto the virtual bandwagon and learning what’s needed to acquire success. Now, more than ever, e-commerce is a necessity for traditional businesses to sustain and survive. Even a conventional sweets store is going online and offering much more than just desserts. The community today demand more information than just deciding what to buy. E-commerce can provide all of that with few clicks and endless scrolling, without the need to hire a person to do it. Thus, the most significant advantage of owning an online e-commerce business is that it does the work of numerous personnel through a single medium.
For the Business Survival
Traditional businesses had always need to compete with competitors within a similar segment. With foot traffic falling behind, traditional brick and mortar store are losing out faster. There is still hope. Take the business and set up an online e-commerce business in India so that it reaches the global audience. If this example is similar to what you are experiencing now, let’s get things going.
Before rushing to create a website that offers products, think of your e-commerce business plan and model. It could be a single marketplace where you sell your products to multiple customers. This business model is more manageable in terms of keeping track of transactions. The administration costs are lower, and you have better control of the inventory. You can earn higher margins with this model. Another available e-commerce business plan is the multi-vendor marketplace. It is merely a marketplace with many vendors registered to your site. Such a business plan provides the security of making a sale as many vendors can sell similar products. You get to earn a commission for every successful sale.
The Company That Operates It
Behind every online e-commerce website, there is a company that operates it. The following are essential to set up an online e-commerce business in India.
- Decide on the business model.
- Research your brand and come up with an improved brand name as well as a logo.
- Register your business entity with the right company structure.
* Choose between Company, Sole Proprietorship, Partnership or LLP
- Create your website. Speak with hosting services in India to find out about their offers.
- Register a domain name so that others cannot use your particular brand name.
- Enable payment gateway on your online store.
- Collaborate with a logistics partner to ensure your products can be shipped to customers worldwide.
- Attracting customers through digital marketing. Use social media networks for starters.
For some, there seem to be a lot of work in getting the business online, but if you are determined, anything can be achieved. We will readily assist you with your online business.