Everything About eCommerce
Why so many Indian e-commerce startups fail and what can be done about it
India, which has approximately 658 million Internet users and the largest market for online shopping, should already be the global leader in terms of eCommerce. According to a recent survey done by the International Data Corporation (IDC), India is the world's fastest-growing smartphone market, with an annual growth rate of 19% in 2022 and a total shipment of 37 million devices. In addition, even rural India has witnessed a meteoric rise in mobile Internet commerce. Furthermore, the Government of India's latest proposed eCommerce legislation is tailor-made for start-ups to prosper and effectively dethrone existing behemoths like Amazon, Flipkart, and Reliance.. Despite a recent national economic crisis, India's eCommerce business experienced a modest increase in consumption demand.Despite working with such advantages, most Indian eCommerce start-ups fail to cash in, and inevitably shut shop within six months of their launch. So, why exactly has India failed to position itself as the world’s No. 1 eCommerce player? In this article, we dive into common mistakes made by most start-ups:Lack of readiness: Most start-ups ignore the process of conducing prelaunch training for its staff, while also failing to collect adequate ...
25% of the shops in India will sale online by 2022 – Survey by Chitrangana.com
India is now getting used to of eCommerce and digital transactions. A recent study during Covid-19 cries shows, more than one-fourth of the local entrepreneurs are looking the opportunity to sell their products online. These are the mainstream traditional retailer and was not much interested in adopting new sales channel before COVID pandemic.eCommerce Survey July 2020Grocery stores, pharmacy, bakers and vegetable suppliers account for almost half of all traditional retail entrepreneurs in India who are looking to begin an online store. Stores such as jewellers, opticians, toy, cosmetic and clothing stores have relatively shown more interest to build their online store instead of selling our marketplaces due to high expense and margin sharing with leading marketplaces like Amazon and Flipkart.A recent study conducted Chitrangana R&D team during 1st July to 7th July 2020 with 4575 retailers in India; the study reveals that the 5% of store owners are looking to move for eCommerce as quickly the operations get normalise, however, 8.5% are expecting to get their eCommerce stores ready by 2021 and 12.25% stores owner are very sure to join ...
2019-20, India’s eCommerce Industry Report, Survey & Projection
India's eCommerce industry is all set to dazzle by double-digit growth even in a difficult economy state, 2019-2020The global eCommerce expert, Chitrangana.com; assures the upward growth shine for the eCommerce industry with the actual numbers and the deep surveys even after admitting one of the biggest slowdowns of a decade. The consultancy claims, the eCommerce B2C alone is capable rising eCommerce industry with the wondrous growth. The growth will order multi fold upon inclusion of service, hyperlocal and B2B segment.The eCommerce industry in India is predicted to rise by 24% this year. This means the Indian online retail industry could be worth 47.8 billion dollars at the end of 2020. The growth rate of India's eCommerce was decreased in 2017-19, but surprisingly 2019-20 is dispensing steady demand growth despite the inferior retail economy environment.India eCommerce Report, 2019-2020The impressive and remarkable figures identified by chief data mining expert Mrs Pranjan Shah at Chitrangana.com, She ensures the eCommerce industry made success to defeat the countrywide slowdown. The factual miracle turned due to higher adoption of ...
O2O Commerce Is The Next Retail Revolution In India
DESPITE boasting of the world’s largest consumer base for eCommerce, online shopping portals contribute to only 4% of India’s total retail business. A recent study revealed that 96% of the marketplace prefers the traditional, offline shopping experience. Industry experts believe customers rely upon personal interaction and real time product information before making a payment. Even in metros and tier 1 cities, eCommerce portals contribute to only 22% of total retail sales. This low number can be attributed to reluctance of customers to trust online payment methods, undue shipping charges, the lack of installation assistance, and difficulty to operate without technology, among others. To widen their customer base, the time is right for traditional shop owners to upgrade to the O2O model, which includes all eCommerce benefits but also overcomes the drawbacks of online shopping. Through the following points, we try to explain the significance of O2O Commerce in India.What is O2O? O2O (Online-to-Offline) is a business model which moves customers from interacting online (via portals, e-mails, mobile apps) to engaging offline (interacting with store owner, test product before purchase). It’s ...
PCI Compliance Guide : Why Indian eCommerce Start-Ups Must look for PCI Compliance
A lot of eCommerce start-ups are entering the market, with hopes of competing with the likes of Amazon and Flipkart. To do so, they need to comply with PCI security standards, to avoid credit card fraud and data breaches. But what exactly does being PCI Compliant mean? Here, we explain:What is PCI DSS? The Payment Card Industry Data Security Standards (PCI DSS) is a globally accepted policy used to protect debit, credit and cash card transactions. These procedures are used to protect the card holder’s personal data against misuse. By following PCI DSS, merchants and sellers can safely accept, store, process and transmit customer information during eCommerce transactions. PCI DSS was created in 2004 by five major credit card companies i.e. Visa, MasterCard, Discover, JCB and American Express. Who must comply with PCI DSS? "Any merchant, acquirer, issuer bank and service provider that processes, stores or transmits credit or debit card data must follow the procedures of PCI DSS. Besides protecting cardholder data, complying with PCI DSS means to ensure information systems and payment applications are secured ...
Why Traditional Wholesale Business Must Transform To B2B – Part 2
In India, B2B eCommerce is like Oxygen for the dying breed of wholesalers and traders. It’s time for them to forget their traditional methods and adopt the B2B model, to sustain and grow in the global eCommerce market. By switching to B2B, they will have the luxury of governing business across India – the world’s largest consumer market – instead of limiting themselves to a small portion of the country.B2B: Cost-Effective Strategy : Over the last few years, there is enough proof that B2B model offers an incredible cost-effective strategy, no matter the size of the business. This is why traditional traders and wholesalers need to adopt B2B model which will help them reduce operation costs and expand their business.Avoiding Human Errors : Using traditional methods, Indian wholesalers are still manually handling orders through phone calls, e-mail and fax. When clients call, it requires manual entry which could lead to human error and possibility of missing the order. Also, this process takes twice as long because customer has to input an order.But by switching to B2B eCommerce portal, traditional sellers can allow customers to place their own orders and free up customer ...
Why indian wholesalers & traders must transform to B2B eCommerce – Part 1
INDIA boasts of the fourth largest market in the world with regards to B2B trading and traditional wholesales business. And yet, India’s wholesalers and B2B traders prefer the traditional business route, which involves dealing with higher quantity and invoice value. So why should traditional wholesalers switch to B2B eCommerce model? We explain in this article: Order Automation The traditional wholesale business operates on high quantities and high invoice value, as they sell products to other retailers on small wholesalers. By adopting B2B model, they can automate recurring purchases and smart shipments which will reduce their day-to-day operation costs. According to Chitrangana.com, India’s leading eCommerce consultancy, the B2B automation can help both buyers and seller in their regular business needs. Lower Operation Costs India’s traditional wholesale business works on a low profit margin and the key goal of the business is to manage operations on optimised level, save time and money in each project. By switching to B2B eCommerce model, they can reduce operation costs of the business and also accomplish exponential growth in their business. By accepting B2B, traditional businesses can process orders digitally by eCommerce, which will allow them to optimize ...
Top eCommerce consumer trends likely to impact Indian market in 2019
'The Indian eCommerce demography is changing rapidly since the younger generation is now a decision-maker with regards to shopping and purchasing. This leads to a change in shopping trends. Since there are more working professionals, they lack sufficient time for shopping." - Chitrangana.com But by embracing technology, India’s eCommerce industry is now able to offer user friendly technology and customer service. Let us dive into five consumer trends we’ll see in the following year:1) Specialised eCommerce Over Marketplace: With each passing day, consumers are choosing specialised eCommerce stores over websites that deal with multiple categories. According to Chitrangana, India’s leading eCommerce consultancy, consumers are avoiding websites such as Amazon and Flipkart due to crowded customer support. The bigger websites avoid taking responsibility for their products -- that aren’t handpicked or quality tested before being sold online. However, the specialised start-ups are focussed on a product-driven approach and try to please customers with quality and personalised customer support. Expect more specialised websites to hit the market in 2018-19.2) Domestic Brands Lose Stigma: Gone are the days ...
Top 5 guidelines to starting eCommerce start-ups in India
We are entering the golden age for eCommerce start-ups in India, especially after the Govt. of India’s new draft policy. But it’s easier said than done, and start-ups must follow a set of guidelines in order to thrive in the marketplace and compete with the likes of Amazon and Flipkart.It’s a little known fact that at least 90% eCommerce start-ups in India fail to blossom due to lack of planning, knowledge and market understanding. And this, despite India being the world’s largest consumer base. While India remains an attractive marketplace for global eCommerce chains, the domestic start-ups continue to struggle owing to unskilled and unprofessional practices. Do you plan to start a new eCommerce business in India? Here are five strict guidelines to follow: 1) Simple business model, core values: Firstly, it is very important that a start-up has a clear and simple core business idea and be equally modest in its execution. The business should intend to cater to people’s everyday shopping needs rather than trying to sell them services or products that are wants, and not needs.2) User ...
eCommerce Startup Revolution: How Indian start-ups can spread their wings in eCommerce
With the Govt. of India already determined to help Indian eCommerce start-ups compete with established overseas giants, we highlight five ideas that will help them in their cause.1) Aid of Search Engines: Besides improving SEO for their websites through use of strong keywords and link building, the start-ups must view themselves as search engines and not just eCommerce websites. According to a research by Nielsen, search success rates have increased from 74% to 92% since 2011, hinting that a majority of online shoppers Google a desired product even before visiting the website.Therefore, it is crucial that start-ups establish strong search engines and work hand-in-hand with Google for effective search engine optimization. This process also lets users compare the same product from two websites since the weighted review scores rank search results based on higher scores.2) Hiring a consultant: For start-ups, it is also advisable to seek the help of an established eCommerce consultant such as Chitrangana, the innovators of the O2O business model in India. For nearly a decade, Chitrangana has helped several ...
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