Comprehensive advice for eCommerce startup in India— by Chitrangana.com
E-commerce is surging in India by 45% growth every year, but India’s leading eCommerce consulting company – chitrangana.com expecting more larger vision by 2020. The consulting firm expecting the India will be worlds biggest eCommerce market by the end of 2020.
The rapid growth of e-commerce in India is supported by an increasingly sophisticated ecosystem that speeds consumer products makers’ goods to online shoppers. The emergence of well-designed, user-friendly online technology, payment and delivery services for both B2C and C2C companies has played a vital role in building a critical mass of Indian users – and they will continue to evolve.
As that growth takes place, India’s e-commerce market will stand out from other countries. Among the factors that make this market unique, the startups require to consider following :
Sales vary widely by region, with Tier-1 cities registering the highest rate of transactions, as well the business needs to look other cities and their behaviour also.
Government regulations and cyber compliance ignoring may result hurdle in business operation. For example, e-commerce-related licenses, website and backend security audit, following PCI etc.
Online shopping activity varies across regions, before start it is mandatory to get feasibility report, product indent research for every state and detail category industry by some experienced data mining team.
India’s e-commerce technology is cheap but not robust, it is very important to get developed experienced technology and user behaviour oriented technology as well the admin management must be specialise to automate various business operations and post-sales communication. The lacking is resulting failure of most of eCommerce projects in India. For example, only 35% of all shoppers use online payment options as the process becomes more difficult and non user-friendly, lack of robust integration and un-secure.
Meanwhile, the delivery system also creates dissatisfaction because of less post-sales communication, un profession notification system or lack of notification system. When it comes to sourcing, most of new online retailers blindly source product without understanding market, without any learning data and user, almost most of new startup don’t look for product pricing or some also relay on agents or source from “unofficial distribution channel.”
India’s e-commerce landscape will continue experiencing rapid growth till 2020 . For any businesses seeking entry into India’s competitive e-commerce market, it would be advisable to develop a strategy that encompasses a thorough understanding of the target market, how consumers evaluate and purchase products, and how they prefer to utilize technology in the local market.
It is also important to devise strategies that not only cater to the needs of tier-1,2 consumers, but also those in other locations: these are important and growing markets for many businesses, but their purchasing behaviors are not uniform.
Finally, the approach toward and integration of social media should be a crucial element of any e-commerce strategy today, as consumers are increasingly integrating these applications into their every day lives.
Chitrangana is the eCommerce management consulting firm that the India’s business leaders come to when they want results.
Chitrangana advises clients on strategy, operations, technology, organisation, private equity and mergers and acquisitions. We develop practical, customised insights that clients act on and transfer skills that make change stick. Founded in 1989, Chitrangana has 60 consultant in 3 countries, and our deep expertise and client roster cross every industry and economic sector. Our clients have outperformed at the eCommerce industry almost 5 out of 1.
We believe a consulting firm should be more than an adviser. So we put ourselves in our clients’ shoes, selling outcomes, not projects. We align our incentives with our clients by linking our fees to their results and collaborate to unlock the full potential of their business.