Setting Up An eCommerce Shop in India
Traditionally the Indian buyer is averse to online shopping. This is probably for many reasons. Customers like to touch, try out the product and then decide. The thrilling part of the transaction is the “haggling” for the price. Shopping, especially during festivals and other occasions becomes a family= affair. With the pollution, traffic snarls and ever-increasing crowds, many shoppers have taken the online route.
Shoppers can browse through the various online catalogues and decide for themselves. The growing number of shoppers opting for online products has created a need for more eCommerce shops. This is turn has opened up new opportunities for entrepreneurs who can take advantage of the situation. The question is, how do you establish an eCommerce store.
How to Set up a Free Online Store in India
The two building blocks of setting up an eCommerce are:
Have a good knowledge about the product(s) that you would like to market. If possible, pick up a niche market product where competition is comparatively less. Vet your plan with a consultant and tweak it if required.
Study the existing market and find our who your competition is. Find out what is their market share and if there is any room for new entrants. Research is the Key. You should arm yourself with every bit of information about the industry you are planning to enter and set up your online dukaan.
Steps You Need to Follow to Set up Free Online Store
Market studies have indicated eCommerce has grown by over 25 % and Is said to be a $100 million industry by 2022. This is encouraging for individuals and companies to join the bandwagon. Before you start celebrating, you should remember that setting up is not so simple as it may appear.
Here are a few tips that will help you set up your dream company. First and foremost, you need to have an appropriate name. It should be catchy and should reflect the industry you are getting into. You have to decide what type of company it is going to be. Is it going to be proprietary, Partnership, limited etc. You also have to develop and plan and business model before you jump in. Types of Business Models
- B2C Business to consumer
The transaction is traditional where a business sells its products or services to the consumer.
- B2B Business to Business
Goods and services are sold to other business.
- C2C Consumer to Consumer
Consumers offer their products or services to other consumers. Consumers may advertise for the sale of their furniture when they relocate.
- C2B Consumer to Business
Consumers with specific skill sets are needed in many companies. Companies find it economical to hire freelancers to time-bound projects.