Planning and managing your internet retail initiative

Planning and managing your internet retail initiative, Session by Sujit Panigrahi, Co-founder and CTO, Convergent Technologies at Internet Retail expo 2013; in this session Sujit explained the entire process of setting up of internet retail business.

Key Takeaway’s

  • Know about your business and target audience; ask your self do you have the real world store? And what do you want to achieve through Online Business?
  • Steps to Online Business
    • Initial Phases: Analyze your ideas and find a suitable solution that meets your specific online business needs
    • Planning phase: Plan your e-commerce initiative in close consultation with experts — from the marketing plan to designing the online store and selecting the appropriate partners
    • Implementation phase: This involves setting up and testing the online platform and processes defined in the plan
    • International roll-out Post-launch: systematically expand your online business, which can be quickly and easily extended to cover other regions, as required.
  • Online Marketing is for acquiring and retaining new customers quickly and cost-effectively; Use experience in sales-oriented online marketing, to devise strategies and activities that are ready to be implemented as soon as the store goes live.
  • An attractive, user-friendly online store with the right mix of tools to encourage your customers to keep shopping; Offer your customer a choice of payment methods to improve shopping experience; Quick, reliable, and secure handling of payments prevents lost sales and also contributes to a positive experience.
  • In order to sell products worldwide, online shops need to be tailored to the specific needs of many different locales—domestic, regional, or international.
  • Have a good logistics and fulfillment team to directly oversee and manage Inventory, Incoming goods, Order picking and preparing orders for shipment, Returns processing, Annual inventory, Archiving records and Monthly statistics.
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