Wondering, How to build an online store in India. Come on, don’t muddle yourself. Our pre-build eCommerce platform has everything you need to sell in the virtual world.
The best time to start a digital venture is Now.
India is treading a digital path. Being the second-largest populated country in the world, the digital market is unimaginable. It is getting more exciting, as the day pass, more and more Indians are stepping into the digital world. From paying the bills, and shopping to even socializing with friends, everything is online.
It’s heartwarming to watch the older generation ease up to this big web world.
In tune with this trend, the retail stores are also following the ‘online way’. The well-established offline stores are dynamically transforming themselves to root a strong digital presence. On the other hand, virtual shops are the new form of ‘brick and mortar’. Customer convenience is of great importance. There are an array of businesses opening there online stores almost every day. These shops are exclusively positioned in the digital world and are not necessarily ‘seen’ in the conventional market.
In an epoch coined by digital transformation, building an online store is extremely easy. We have listed a few steps to help you build an Online Store in India.
To Build an Online Store you need a Clear Vision
Never to be confused, great businesses are build around a great vision. The idea should be synergism around what the customer wants, and how your entity will help add value to the end customer. Be clear about what you want and where you want to be after 1 year. Set measurable goals.
Product is the King
This step is a seed to your plant. Trusting your instincts while choosing the product is helpful for this step.
List down all the ideas of products you wish to sell. Next step is to check the feasibility of the chosen products. It does not matter how good the product seems to you, instead it is important that the product has a market. To determine the demand of the product, a good market research is a must.
For example, you have chosen to sell handmade bags. You can do a ‘keyword search’ exercise to determine if there are people looking to buy handmade bags online. Number of hits will help you understand the demand of the product.
The research should also answer to questions like, who are the competitors and who are the potential customers. No one likes competition, but high competition in the online world may also indicate the popularity of the product. Knowing potential customers and interacting with them helps you evolve and innovate.
Create a Business Model
Entering the world wide web without a plan is perilous. Careful and meticulous planning is required to face at least the foreseen challenges. Decide whether you want to build an online store as a Sole Proprietor or register a Limited Liability Partnership (LLP). Design a plan to build a good brand image of your products.
Choice of an Online Store Platform
There are two major ways to build an Online Store:
- Sell your products on a Marketplace
- Build your own website
Each option has its own set of advantages and disadvantages. Selling on Marketplace is an easier and quicker way to start your store. At Marketplace, you get a ready-to-use infrastructure and customer traffic. However, commission paid to the Marketplace eats up a chunk of your profit. Also, your personal brand may not get highlighted amidst the competition at Marketplace.
Building your own website is not as complicated as it may sound. With amazing e-commerce platform providers like Shopnix, it is a cakewalk experience. It does require initial time and investment, all of which works totally in your favour.
The following are a few pros of building your own website:
- Being able to add your personal touch
- Being visible amongst your competitors
- Being able to communicate directly with your customers
- Being able to pocket all of the profits
To get the best of both worlds, we recommend, designing a multi-channel store. It involves creating presence of your products over multiple channels like Marketplace, Social Media and your own establishment.
Source your Products
Most of your capital is used here; hence you need to be careful. In the beginning to ‘test the waters’ you can invest only a small amount and source limited products. After you get a hold on the market, you can start sourcing greater quantities and stocking them. There are two ways of sourcing your products:
- Buy the products from a wholesaler
For example, if you are selling jewellery online, you can source the kind of ornaments you want to sell from a supplier. Negotiate a good deal which would be beneficial to both. Building a cordial relationship with the supplier is a must for the health of your online store.
However, on the other hand, you can manufacture your own jewellery. In this case, you will have greater control on the inventory and the pricing. Also, you will have the freedom and space to create your own unique style of jewelry.
Maintaining an inventory balance in accord to the demand is a delicate affair.
Safe Payment and Reliable Shipping
Setting up a secure payment method is paramount. In case of your personal website, one needs to set up a payment gateway. The charges levied by the payment gateways towards setup, maintenance and as well as commission for every transaction has to be paid by the website. At Marketplace, this infrastructure is already taken care in lieu of the commission paid to them.
The process of selling online is only complete when the product reaches the customer. So, the stage of shipping method has to be meticulously planned. Compare different charges and services provided by the courier companies in the market. Choose a few companies and negotiate to strike a good shipping deal.
Promote your Online Store
Now that you have your infrastructure set up, it is time to make money. Market your brand assertively. Create an impact on the social media. A great way of spreading your brand name is by giving free trial products to the social media influencers. These influencers upload and talk about your brand, in turn creating awareness amongst their followers. This is a quick way to reach your customer base. Promote you brand comprehensively through Facebook, Instagram and blogs.
Follow all the Legal Guidelines
Just like any other business, building an online store also requires paperwork. Register yourself with appropriate authorities. Ensure to pay the right taxes in time.