According to a recent report by the Internet and Mobile Association of India, eCommerce market in India has reached to a valuation of USD 12.6 Bn in 2013—a 34% growth since 2009.
Given that eCommerce landscape delivers a wide range of business benefits, including a 24 hours visibility—every other retailer wants to have an online presence. Moreover, going online enables retailers to hold a comparatively large inventory, offers easy scalability, have effective customer interaction, and most importantly have a global presence.
But starting up a store online is not as easy as it might sound. Most of us know that going online requires patience, diligence and the right online business tools but when to do it, what steps to follow and perhaps where to start from, are the key questions here.
“It’s important for newcomers to understand that selling online is a completely different business than selling offline” says Dhruv Gupta, CEO, GKB Opticals. “In physical medium you have people doing sales for you to keep your customers confined to your store. In online space, there’s no way you can directly influence the interest of the customers.”
Online selling provides comparatively low customer engagement than an offline business. Looking from a strategic point, a retailer should understand that going online isn’t just about opening up a portal but rather setting up of the backend. But where setup of an online store requires comparatively more engagement and commitment — it has its own advantages.
So if you are among those who feel that now is a good time to explore selling on the Internet, you first need to understand how to put up an online store, what to expect while operating the business and most importantly what kind of consumer base to go after.
To contact the author, email at email@example.com. Discover more on latest trends in online retail at the upcoming #IRE2014Category Startups