From airline tickets to household grocery, practically each and every product and service is now made available online. Data reveals that there are currently 147.8 million eCommerce users in India, with rapid growth projected that will see an additional 210.46 million users shopping online by 2020.
This makes it reason enough for you to take interest in the online business model and work towards entering the eCommerce space – be it in the B2B model or B2C model. Another case in point to consider having an online presence is the fact that today’s customers prefer a brand/service provider that has an omni-channel presence.
E-commerce Planning and Strategy
It is a myth to think that having a well-designed website is the first step to enter the eCommerce space. Much before you begin working on the website, you need to have the plan in place supported by strong infrastructure and thorough technical know-how. Entering the online space is as good as starting your business from scratch[1]. Amongst other things, the most important is to train your mind to delink the offline strategies you have in place and the mistake of applying them to your online business. The online customer is very different. He is a bargain hunter and is restless. Your online business model has to incorporate enough room for customer eccentricity.
Scaling up the online business model surprisingly is much faster as compared to the offline model. With the challenge of a physical space for expansion not being there, you can practically enter the remotest of towns and villages through your online model provided your business strategy has been planned to do so. Thus the mentoring of an expert from the space becomes extremely imperative.
| A Push from the Government of India The various government initiatives that have contributed to further push the penetration of eCommerce in India, include – -Furthering the limit of FDI in the eCommerce marketplace model for up to 100 per cent (B2B model) -In the Union Budget 2018 – 19, the government allocated Rs. 8,000 crore (US$ 1.24 bn) to BharatNet Project. This has been done to provide broadband services to 150,000 gram panchayats |
Bring in the Expert
The nuances of online business stand in sharp contrast to that of the offline channel. From customer acquisition strategy to inventory management, online is a different ball game altogether. Where your expertise in the offline space may stand tall, it is strongly advocated that before entering the online space, you have an expert on board to mentor you through the setting up phase for your online business
Besides years of experience, the expert shall guide you with -
With the new eCommerce policy in place, big discounts by international players have been curbed. With the heavy discounts now being brought under control, it is going to be a fair game online for one and all. Especially the MSMEs and SMEs who will be saved from being sabotaged by the big players who have deep pockets which invariably allow them to win customers based on the heavy discounts they offer. Your online business journey couldn’t have had a better time than this. Make the best use of it. Speak with an expert to know how.
[1] https://www.faroce.com//view_profile.php?id=72
