There is nothing more rewarding and achievement seeing your business grow and reaching a point where no one can compete with. E-Commerce is a booming business but many E-Commerce businesses struggle to be in a market for a longer period. Before starting an E-Commerce business always do research that will help you understand the market and customers.
Building an E-Commerce business takes more than picking a brand name, listing products, and beginning to sell items on the web. Indeed, even the best business ideas can fail if you are not launching correctly and not driving enough traffic to your website. There are many E-Commerce solution providers in India for you to hire them.
First and foremost things to take into consideration before starting an E-Commerce store that are:
Choose a Product- Choosing a product is a very important step, one cannot sell anything that business likes customers should also buy that stuff. Having a great business idea but not a correct product can fail your business.
Ask yourself a question that what should I sell to make money whether customers will pay money to buy the products that you are selling? If you come to know customers are buying the product that you will launch then go ahead and select the product.
Shortlist your Ideas- Once you have listed down several ideas then narrow down your list, shortlisting ideas need time. Eliminates the ideas from your list that have high shipping cost as this can really affect your new E-Commerce store, second eliminates the idea which has legal issues like if you wanted to launch a health supplements and that need license and it’s a long procedure and you do not have enough time then eliminate that idea for now. This is the way you have to shortlist your ideas.
Validate your Ideas- After short-listing validate your ideas that means the one idea you have selected, apply that idea and research that product will work in the market or not. What is the potential of the market before investing in that product?
Now how to see the potential market and your product will work in the market or not. Go for any online website research on a product you wanted to sell if you find people are buying that product and the seller is not selling the appropriate product as the customers want than this is the best time to launch your product in accordance to customers demand and need.
Research your competition- Now you are ready with all the things like you have validated your ideas, you have decided your products, you know your market and so on. So now research on your competition how you will be different from your competitor and how business is unique, whether customers will purchase it or not and what will be the USP of your product.
After the above steps following things to take into consideration:
Choose a Name and Design a Logo- After all the above steps select a name for your product and business and design a logo matching to your business. The name of the business and logo should not be old fashioned or not understandable, it should be simple and understandable to customers.
Set-up your E-Commerce Store-
- Having your brand name, now you must have a domain name for your website so that customers can search it on the internet. There are many platforms available for a domain name.
- After domain name when setting up your website you will need essential pages like- Shop option, about page, shipping/return page, contact/help page and FAQ’S page or combine all this information on one page.
- Design of your website should also be attractive, simple and understandable by customers.
E-Commerce business is growing very fast in the Indian market. Revenue from E-Commerce sector is expected to grow from $39 billion in 2017 to $120 billion by 2020. Indian market is growing at an annual rate 51% highest in the world. Trends like augmenting business with AI and AR, retailers focusing on rural market, on-demand apps, increase in internet penetration, etc. is booming E-Commerce business in India.
The services of eCommerce development in India are also cheaper compare to other countries. If you are looking to outsource or wanted to start an E-Commerce business follow above steps it will help you a lot in leading a successful E-Commerce business.