- June 13, 2014
- Posted by: pravesh
- Category: Online Seller
Because I sell online.
Keeping the shop open 24/7 without the usual hassles from Law authority or Unlawful authority is the least of all things I am doing since I started selling online.
Let me begin with the beginning. From being a cynical, cautious businessman with a shop in the market to being actively ambitious online seller who is selling 24/7 on multiple marketplaces – the journey has been quite a learning experience. Would love to share these pieces of wisdom with you.
Its all about Location. Really ?
Get the location right and half the work is done. That’s what our experience has been while running a shop or running any business. And we already know – price of anything in demand goes up. That’s why getting the good location is a costly affair. Only the big guys can afford.
But While Selling online – Your location is the same as the location of some fancy deep pocket brand. The customers see you and big guys right next to each other. Just imagine how you wished to have the same kind of shop that your big budget competitors had. But you could not. Now you can. Ecommerce provides a level playing field for small players like you and me.
Today – I can be at multiple places at the same time.
Its not Magic. Its called Ecommerce.
Running a business with a small team is always challenging. Especially when you want to grow manifold. You simply cannot.
During that phase – I had jokingly commented to my colleagues many times that – “Only If I could be at multiple places at the same time”. How can I be ? Silly of me!
But today – I can be at multiple places at the same time.
Its not Magic. Its called Ecommerce.
My one shop is open at Flipkart, my other shop is open at Snapdeal, and one more shop is open at Jabong. And I am managing all of the shops with my small team. The same team that used to cater to one small shop on the street.
Unlike conventional businesses where we get to sell our products on certain very selective places, ecommerce provides the facility to sell on multiple channels. Selling through various virtual marketplaces has not only increased my visibility but also helped me to establish my brand among a huge number of customers. Goes without saying that selling on multiple channel has multiplied my profits.
Unattended Customer in your Shop or Long queue at billing counter?
No such uncomfortable sights any more.
Usually in a traditional shop, we need sales persons to attend our customers. During festivals or any other special occasion, it becomes very difficult to handle lots of customers at one time. And in this scenario, the possibility of the customers going back from the shop unattended is quite high. It not only creates a negative impression on prospects but also destroys our chances of achieving business goals. Here online setup provides a huge advantage over offline stores. Contrary to a traditional shop, ecommerce allows us to attend a huge number of customers at any point of time.
Never does any prospective customer who walks into my e-shop, feels unattended.
Everything they want to know about the products – I can present it in a detailed, easy to get manner.
And no customer has to wait at billing counter for his/her turn.
Not Just More, but Better Footfalls!
We always tried to get more footfalls in our shop. Because at the back of our mind, we are clear that if 100 people walk in, at least 5 will like our products and buy them. But what about the 95 who don’t buy.
More footfalls = More sale. True but there is a limit to the level we can take this approach to.
Even the best shops have 10% conversion rate.
Surprisingly, my ecommerce shops have more than 20-30% ratio. The reason being – In ecommerce people come looking for your product. Such focused traffic is much higher in Ecommerce as compared to offline shops. They are already convinced about buying it, all they need is a little push. So not just there is no limit to footfalls but the conversion rate is even bigger. Do the math and see for yourself – what kind of benefits I am talking about.
Selling in India ? Without Bargaining ? No. I am not Dreaming.
In India, customers can be identified by certain very typical traits. One of the most popular traits of an India buyer is bargain. Sometimes, in the process of bargaining, the seller has to compromise on his profits. While shopping online the customers can’t go for bargaining on prices of the products. They can only choose from a wide range of products with fixed price tags. The seller has the ultimate say on product prices.
Of course, you can choose to give them discounts on particular items, for particular period, for particular type of customers. But you have total control over it. No more hassling with every other customer over price.
Riskless Business. Yeah, It exists. On Ecommerce.
Business always comes with uncertainty. But this uncertainty turns into risk when stakes go up. In our regular business, once you up the stake, it becomes very difficult to take a step back. Also, the investment that is required to grow is quite substantial in offline business. In eCommerce, it takes just a fraction of that amount to start catering to more customers. Its easy and cheaper to test waters and then scale up in e commerce than offline.
No wonder so many first time businessmen are lining up to open their shop online. And many of them are doing well.
Previously, when it’s about starting a business; the main concern of any prospective businessman was to gather a huge amount of money. They either had to use their savings or take bank loans or borrow from different people. Under this condition, if they would fail to achieve success, it would ruin them completely. Here, e-commerce portals have appeared as a great platform. Selling online or setting up an online store doesn’t cost much. Failing here is not a Punishable offence!
Besides, we don’t share our hard earned profit parts with local hooligans.
Hafta vasoli, gunda gardi are things of the past!
That’s my story. What’s yours ?
We are Waiting to hear your stories.
Here at Unicommerce, every once in a while we will present you the journey of Ecommerce sellers of India.