E-commerce is one of the fastest growing industry in Indian. E-commerce industry in India is likely to be worth $32.7 billion by 2018, a 31 percent jump over the revenues for 2017 & expected to touch whopping $71 Billion by 2022.
E-commerce has remarkably transformed the way India Shops & Sell. We are in an age where we are lucky to witness the evolution from a simple search & click site to personalized shopping Apps. The tremendous growth in last few years has given an immense opportunity to the generation of Entrepreneurs.
Now the question is, Why do you want to have your own Online Shopping Website?
You need to answer that to yourself, before getting into the business and when you think about creating your own Online Shopping Website, don’t look at the good and positive sides of it, but also the negative and challenges you’ll face.
Despite of huge potential, long-term profitability of the e-commerce industry in the country is still under question. After so many years of operations, all the major Online Shopping Websites haven’t booked any profit yet.
With plenty of competition popping up in Online Shopping space within the last few years and as the market tends to grow, online space will going to become more crowded than ever before.
So again I have a Question for you, Is it a right time to give your Brand an Online Visibility?
Yes! It is the right time to set up your strong Brand Presence. Power of e-commerce can’t be ignored, when it comes to building a significant brand presence locally as well as globally. There are many other factors which makes e-commerce a lot more attractive Industry then others.
Let’s discuss why one should get into Ecommerce?
Low Start-up Cost: If you think of business, the very first thing comes in mind is cost. Cost involved in establishing a Brick & Mortar business & running it can give you night mares, but when it comes to Ecommerce, Cost in establishing your online shopping website is considerably low. With the new Technology coming up, cost of setting online presence is really going down day by day. Don’t get surprise if I say, you can have your Online Shopping Website for free
Reach- Local to Global Audience: While running a traditional Business you have a limited set of audience to target, in most cases these are the people generally staying nearby. Online presence enables you to cater users located in other regions too. It boost your reach from a Local store to Global audience.
Marketing: With the rise of Social Media & SEO, making a significant presence online is really cost effective. Targeting your audience is really easy with the help of data & information available.
Scalability: Major challenge faced by Business is how to grow & that’s the reason everyone is looking toward setting up there online shopping website. Ecommerce helps your organization grow & scale easily to meet your demand. You can easily introduce new sales channels to grow & cater to new market segment.
Brand Awareness: Creating a Brand is the hardest part of the business, it’s your website which differentiate your brand from the competition. More and more offline business are going online with the objective of improving their Brand Awareness. With having a presence online, it enables Brand to communicate directly with user & establish trust & loyalty.
Still in dilemma, if you are still not convinced & hesitant to take your presence online below data can below you off.
As per the reports shared by IAMAI, Internet users in the country is supposed to grow by 21% to 371 million by June 2016.
Another report says that only 3% of the Internet users shop online & with the surge in Internet users, a number is expected to grow by multifold by the year end.
Summing up, If you have a passion to innovate & do something different then league, ecommerce is the place to be. Ecommerce Industry is growing significantly in India and had ample opportunity for everyone. It’s the right time for inspiring entrepreneurs to get into ecommerce Industry and the reason is bit obvious, consumers are getting more pro towards online shopping. Consumers are open happily accepting new online shopping websites & this change in consumer shopping behaviour, one can expect a continued growth in the e-commerce industry.
The Indian consumers are rapidly advancing towards adopting new Technology. The one key factor driving the growth to eommerce Industry is the increase in the number of internet users in the country & it is supposed to grow by 21% to 371 million by June 2016, as per the reports from IAMAI.
The number of mobile Internet users in India is projected to grow 21% to reach 371 million by June 2016 from 306 million in December 2015, according to a report released on Wednesday by the Internet and Mobile Association of India (IAMAI) and market research firm IMRB International. – See more at:http://www.ibef.org/research/reports/mobile-internet-users-in-india-to-grow-to-371-million-by-june-2016-report#sthash.Mzgm6Gn1.dpuf
With the easy of Technology, cost involved in setting up an Online Shopping Website has reduced drastically. Service Providers like Shoppify, Twister & Newbkart enables Enterpruners to setup there Online Shopping Websites within seconds.
Instead of worrying about competition, one need to be innovative about his offering & a single feature can set you apart from the competition. You need to spend time analysing demand &
With the strict FDI norms, Government is all set to stabilise the Industry & bring it on a money minting track.
If you have an innovative idea or you simple want to replicate the existing business model with some customization.